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

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective lowered by stock analysts at 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 target price would indicate a potential upside of 53.92% from the stock’s previous close.

A number of other equities analysts also recently weighed in on CVE. National Bankshares lowered their target price on shares of Cenovus Energy from C$31.00 to C$29.00 and set an “outperform” rating for the company in a research note on Thursday. TD Securities cut their price target on 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. BMO Capital Markets dropped their target price on shares of Cenovus Energy from C$28.00 to C$25.00 in a research report on Friday, December 13th. Royal Bank of Canada cut their price target on Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, Raymond James boosted their price target on shares of Cenovus Energy from C$32.00 to C$33.00 in a research note on Friday, December 13th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Cenovus Energy presently has an average rating of “Buy” and an average price target of C$31.20.

Cenovus Energy Stock Performance

Shares of CVE traded up C$0.13 during midday trading on Friday, reaching C$20.79. 4,707,354 shares of the stock were exchanged, compared to its average volume of 5,330,753. The stock’s 50 day simple moving average is C$22.44 and its 200 day simple moving average is C$24.42. The company has a market cap of C$38.67 billion, a P/E ratio of 8.28, a PEG ratio of 0.09 and a beta of 2.63. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 33.34. Cenovus Energy has a twelve month low of C$19.82 and a twelve month high of C$29.96.

Insider Buying and Selling at Cenovus Energy

In related news, Senior Officer Jeffery George Lawson acquired 4,000 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was purchased at an average price of C$22.50 per share, with a total value of C$90,000.00. Insiders have acquired 9,600 shares of company stock worth $211,699 over the last ninety days. Insiders own 32.03% of the company’s stock.

Cenovus Energy Company Profile

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.