CSFB Boosts Cenovus Energy (TSE:CVE) Price Target to C$37.00

Cenovus Energy (TSE:CVEGet Rating) (NYSE:CVE) had its target price lifted by equities research analysts at CSFB from C$32.00 to C$37.00 in a research note issued to investors on Thursday, BayStreet.CA reports. CSFB’s target price would indicate a potential upside of 19.51% from the stock’s previous close.

CVE has been the topic of a number of other reports. ATB Capital upped their target price on shares of Cenovus Energy from C$31.00 to C$33.00 and gave the stock an “outperform” rating in a research report on Thursday, April 28th. JPMorgan Chase & Co. raised their price target on Cenovus Energy from C$29.00 to C$30.00 in a report on Tuesday, April 12th. CIBC upped their target price on shares of Cenovus Energy from C$28.00 to C$30.00 in a research report on Thursday, April 14th. Credit Suisse Group lifted their price target on shares of Cenovus Energy to C$37.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Raymond James set a C$27.00 price objective on shares of Cenovus Energy and gave the company an “outperform” rating in a report on Thursday, April 28th. Fifteen research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of C$26.24.

CVE stock traded up C$0.17 during trading on Thursday, hitting C$30.96. 2,318,950 shares of the stock traded hands, compared to its average volume of 8,400,714. The stock has a market cap of C$61.35 billion and a price-to-earnings ratio of 32.31. Cenovus Energy has a one year low of C$9.23 and a one year high of C$31.19. The company has a current ratio of 1.60, a quick ratio of 1.03 and a debt-to-equity ratio of 59.74. The company has a 50 day simple moving average of C$25.02 and a 200 day simple moving average of C$20.44.

Cenovus Energy (TSE:CVEGet Rating) (NYSE:CVE) last posted its earnings results on Wednesday, April 27th. The company reported C$0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.81 by C($0.02). The firm had revenue of C$17.96 billion for the quarter, compared to the consensus estimate of C$13.59 billion. As a group, analysts predict that Cenovus Energy will post 3.3099998 earnings per share for the current fiscal year.

In other Cenovus Energy news, Director Alex Pourbaix sold 300,000 shares of the firm’s stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of C$27.45, for a total transaction of C$8,234,490.00. Following the completion of the sale, the director now owns 955,900 shares of the company’s stock, valued at approximately C$26,237,829.97. Also, Senior Officer Joseph Drew Zieglgansberger sold 154,147 shares of the company’s stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of C$26.97, for a total transaction of C$4,157,175.03. Following the completion of the transaction, the insider now owns 65,307 shares in the company, valued at C$1,761,257.95. In the last three months, insiders sold 513,247 shares of company stock valued at $13,944,325.

About Cenovus Energy (Get Rating)

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada, the United States, and the Asia Pacific region. The company operates through Oil Sands, Conventional, Offshore, Canadian Manufacturing, U.S. Manufacturing, and Retail segments.

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