Jefferies Financial Group Issues Positive Forecast for Cenovus Energy (TSE:CVE) Stock Price

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target upped by Jefferies Financial Group from C$30.00 to C$37.00 in a report released on Monday morning,BayStreet.CA reports.

A number of other equities research analysts have also recently issued reports on the company. TD Securities upped their price objective on Cenovus Energy from C$28.00 to C$35.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. JPMorgan Chase & Co. cut shares of Cenovus Energy from a “buy” rating to a “neutral” rating and set a C$25.00 target price for the company. in a research note on Tuesday, January 20th. Morgan Stanley lowered their target price on shares of Cenovus Energy from C$31.00 to C$29.00 in a report on Friday, January 23rd. Royal Bank Of Canada upped their price target on shares of Cenovus Energy from C$31.00 to C$32.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Finally, Scotiabank increased their price target on shares of Cenovus Energy from C$30.00 to C$34.00 and gave the company an “outperform” rating in a research note on Friday, February 20th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Cenovus Energy presently has a consensus rating of “Buy” and an average target price of C$32.67.

Cenovus Energy Price Performance

Shares of TSE CVE opened at C$31.98 on Monday. The company has a debt-to-equity ratio of 53.80, a current ratio of 1.57 and a quick ratio of 1.00. The business has a 50-day moving average of C$28.12 and a 200-day moving average of C$25.45. The stock has a market capitalization of C$60.10 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 0.09 and a beta of 0.63. Cenovus Energy has a fifty-two week low of C$14.48 and a fifty-two week high of C$32.74.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its earnings results on Thursday, February 19th. The company reported C$0.50 earnings per share (EPS) for the quarter. The business had revenue of C$10.88 billion for the quarter. Cenovus Energy had a return on equity of 13.16% and a net margin of 7.91%. As a group, sell-side analysts predict that Cenovus Energy will post 2.2619279 earnings per share for the current fiscal year.

Cenovus Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, March 13th. Cenovus Energy’s dividend payout ratio (DPR) is presently 36.28%.

About Cenovus Energy

Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 472 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds 6.7 billion boe of proven and probable reserves.