Jefferies Financial Group Increases Cenovus Energy (TSE:CVE) Price Target to C$36.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price raised by Jefferies Financial Group from C$28.00 to C$36.00 in a report published on Friday morning, BayStreet.CA reports. Jefferies Financial Group currently has a buy rating on the stock.

CVE has been the subject of several other reports. BMO Capital Markets raised their price target on shares of Cenovus Energy from C$29.00 to C$33.00 in a report on Thursday, March 28th. JPMorgan Chase & Co. lowered their price objective on shares of Cenovus Energy from C$35.00 to C$34.00 in a research report on Thursday, January 11th. Royal Bank of Canada raised their price objective on shares of Cenovus Energy from C$28.00 to C$32.00 in a research report on Tuesday, April 9th. Scotiabank lowered their price objective on shares of Cenovus Energy from C$31.00 to C$28.00 and set an outperform rating on the stock in a research report on Tuesday, January 16th. Finally, CIBC raised their price objective on shares of Cenovus Energy from C$30.00 to C$31.00 and gave the company an outperform rating in a research report on Friday, March 22nd. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cenovus Energy has an average rating of Moderate Buy and an average target price of C$32.19.

Cenovus Energy Stock Down 1.8 %

Shares of TSE:CVE opened at C$28.34 on Friday. The firm has a fifty day moving average price of C$25.20 and a two-hundred day moving average price of C$24.36. The company has a debt-to-equity ratio of 34.64, a current ratio of 1.56 and a quick ratio of 1.00. Cenovus Energy has a one year low of C$19.82 and a one year high of C$29.96. The company has a market cap of C$53.00 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 0.09 and a beta of 2.78.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings results on Thursday, February 15th. The company reported C$0.39 EPS for the quarter, beating the consensus estimate of C$0.33 by C$0.06. Cenovus Energy had a net margin of 7.87% and a return on equity of 14.60%. The firm had revenue of C$13.13 billion during the quarter, compared to the consensus estimate of C$13.06 billion. During the same period last year, the firm earned $0.39 EPS. Analysts anticipate that Cenovus Energy will post 2.6887232 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 28th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date was Thursday, March 14th. Cenovus Energy’s payout ratio is presently 26.42%.

Insider Buying and Selling

In other Cenovus Energy news, Senior Officer Jonathan Michael Mckenzie bought 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were bought at an average price of C$23.49 per share, for a total transaction of C$1,174,500.00. In other news, Senior Officer Jonathan Michael Mckenzie acquired 50,000 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were purchased at an average price of C$23.49 per share, for a total transaction of C$1,174,500.00. Also, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of C$29.21, for a total transaction of C$525,835.80. Insiders have sold a total of 87,000 shares of company stock worth $2,414,507 in the last 90 days. 31.50% of the stock is owned by company insiders.

About Cenovus Energy

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.