Cenovus Energy (TSE:CVE) PT Raised to C$31.00

Cenovus Energy (TSE:CVEGet Free Report) (NYSE:CVE) had its price target boosted by stock analysts at CIBC from C$30.00 to C$31.00 in a note issued to investors on Friday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s price target suggests a potential upside of 17.65% from the company’s previous close.

A number of other equities analysts have also commented on CVE. JPMorgan Chase & Co. cut their price objective on shares of Cenovus Energy from C$35.00 to C$34.00 in a research report on Thursday, January 11th. Desjardins cut their price target on shares of Cenovus Energy from C$34.00 to C$27.50 and set a “buy” rating for the company in a report on Tuesday, January 23rd. Scotiabank decreased their price target on shares of Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating on the stock in a report on Tuesday, January 16th. National Bankshares dropped 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 note on Wednesday, January 10th. Finally, Jefferies Financial Group upped their target price on Cenovus Energy from C$27.00 to C$28.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$31.25.

Get Our Latest Analysis on CVE

Cenovus Energy Stock Performance

TSE CVE opened at C$26.35 on Friday. The firm has a market cap of C$49.27 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 0.09 and a beta of 2.79. The company has a quick ratio of 1.00, a current ratio of 1.56 and a debt-to-equity ratio of 34.64. The company’s 50 day moving average is C$22.92 and its 200-day moving average is C$24.33. Cenovus Energy has a 12-month low of C$19.82 and a 12-month high of C$29.18.

Cenovus Energy (TSE:CVEGet Free Report) (NYSE:CVE) last posted its earnings results on Thursday, February 15th. The company reported C$0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.33 by C$0.06. The firm had revenue of C$13.13 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the business posted $0.39 earnings per share. Sell-side analysts predict that Cenovus Energy will post 2.7257019 earnings per share for the current year.

Insider Activity at Cenovus Energy

In other Cenovus Energy news, Senior Officer Andrew Dahlin sold 25,000 shares of the business’s 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. In other news, Senior Officer Jonathan Michael Mckenzie bought 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were bought at an average cost of C$23.49 per share, with a total value of C$1,174,500.00. Also, Senior Officer Andrew Dahlin sold 25,000 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of C$25.99, for a total transaction of C$649,657.50. 31.50% of the stock is owned by insiders.

Cenovus Energy Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Cenovus Energy (TSE:CVE)

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