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

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective raised by research analysts at Jefferies Financial Group from C$28.00 to C$36.00 in a research note issued on Friday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s target price indicates a potential upside of 24.78% from the company’s current price.

CVE has been the subject of several other reports. Scotiabank lowered their price objective on Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating for the company in a research report on Tuesday, January 16th. JPMorgan Chase & Co. lowered their price objective on Cenovus Energy from C$35.00 to C$34.00 in a research report on Thursday, January 11th. National Bankshares lowered their price objective on Cenovus Energy from C$36.00 to C$29.00 and set an “outperform” rating for the company in a research report on Wednesday, January 10th. BMO Capital Markets upped their price target on Cenovus Energy from C$29.00 to C$33.00 in a research note on Thursday, March 28th. Finally, CIBC upped their price target on Cenovus Energy from C$30.00 to C$31.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$32.19.

Cenovus Energy Price Performance

CVE stock opened at C$28.85 on Friday. The firm has a market capitalization of C$53.95 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 0.09 and a beta of 2.79. Cenovus Energy has a 1 year low of C$19.82 and a 1 year high of C$29.96. The company has a debt-to-equity ratio of 34.64, a current ratio of 1.56 and a quick ratio of 1.00. The business has a 50 day simple moving average of C$25.06 and a 200-day simple moving average of C$24.41.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last issued its quarterly earnings data on Thursday, February 15th. The company reported C$0.39 earnings per share for the quarter, topping the consensus estimate of C$0.33 by C$0.06. The company had revenue of C$13.13 billion during the quarter, compared to analyst estimates of C$13.06 billion. Cenovus Energy had a return on equity of 14.60% and a net margin of 7.87%. During the same period in the prior year, the business posted $0.39 earnings per share. Equities research analysts anticipate that Cenovus Energy will post 2.731203 earnings per share for the current fiscal year.

Insider Activity

In other news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of C$29.21, for a total value of C$525,835.80. In other news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of C$29.21, for a total value of C$525,835.80. Also, Senior Officer Andrew Dahlin sold 25,000 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of C$25.99, for a total value of C$649,657.50. Over the last three months, insiders have sold 87,000 shares of company stock worth $2,414,507. Corporate insiders own 31.50% of the company’s stock.

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.