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

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective dropped by Jefferies Financial Group from C$33.00 to C$32.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s price objective indicates a potential upside of 53.92% from the stock’s previous close.

Several other analysts have also commented on the company. Raymond James lifted their price objective on Cenovus Energy from C$32.00 to C$33.00 in a report on Friday, December 13th. Royal Bank of Canada cut their price objective on Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. BMO Capital Markets reduced their price objective on shares of Cenovus Energy from C$28.00 to C$25.00 in a research note on Friday, December 13th. National Bankshares cut their price target on Cenovus Energy from C$31.00 to C$29.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, TD Securities lowered their target price on shares of Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$31.20.

Cenovus Energy Stock Up 0.6 %

Shares of CVE stock traded up C$0.13 during mid-day trading on Friday, hitting C$20.79. The company’s stock had a trading volume of 4,707,354 shares, compared to its average volume of 5,330,753. The stock has a market cap of C$38.67 billion, a price-to-earnings ratio of 8.28, a PEG ratio of 0.09 and a beta of 2.63. The company has a debt-to-equity ratio of 33.34, a quick ratio of 1.00 and a current ratio of 1.66. Cenovus Energy has a 52-week low of C$19.82 and a 52-week high of C$29.96. The business has a 50-day moving average price of C$22.44 and a 200 day moving average price of C$24.42.

Insider Activity

In other Cenovus Energy news, Senior Officer Jeffery George Lawson bought 4,600 shares of Cenovus Energy stock in a transaction on Friday, December 13th. The shares were bought at an average cost of C$21.74 per share, for a total transaction of C$100,004.00. In the last 90 days, insiders have bought 9,600 shares of company stock valued at $211,699. 32.03% of the stock is currently 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.