Cenovus Energy (TSE:CVE) PT Raised to C$33.00

Cenovus Energy (TSE:CVEGet Free Report) (NYSE:CVE) had its price target raised by BMO Capital Markets from C$29.00 to C$33.00 in a report released on Thursday, BayStreet.CA reports. BMO Capital Markets’ price target indicates a potential upside of 21.86% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. CIBC increased their price target on Cenovus Energy from C$30.00 to C$31.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Jefferies Financial Group increased their price target on Cenovus Energy from C$27.00 to C$28.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. JPMorgan Chase & Co. cut their price target on Cenovus Energy from C$35.00 to C$34.00 in a report on Thursday, January 11th. Desjardins increased their price target on Cenovus Energy from C$28.00 to C$29.50 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Scotiabank cut their price target on Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating for the company in a report on Tuesday, January 16th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$31.54.

View Our Latest Research Report on Cenovus Energy

Cenovus Energy Price Performance

Shares of Cenovus Energy stock opened at C$27.08 on Thursday. The business has a 50 day simple moving average of C$23.58 and a two-hundred day simple moving average of C$24.33. Cenovus Energy has a 12 month low of C$19.82 and a 12 month high of C$29.18. The stock has a market capitalization of C$50.64 billion, a P/E ratio of 12.77, a PEG ratio of 0.09 and a beta of 2.79. The company has a debt-to-equity ratio of 34.64, a current ratio of 1.56 and a quick ratio of 1.00.

Cenovus Energy (TSE:CVEGet Free Report) (NYSE:CVE) last announced its earnings results on Thursday, February 15th. The company reported C$0.39 EPS for the quarter, beating analysts’ consensus estimates of C$0.33 by C$0.06. Cenovus Energy had a return on equity of 14.60% and a net margin of 7.87%. The business had revenue of C$13.13 billion during the quarter, compared to analysts’ expectations of C$13.06 billion. During the same quarter in the prior year, the firm earned $0.39 earnings per share. As a group, analysts predict that Cenovus Energy will post 2.6896208 EPS for the current fiscal year.

Insider Transactions at Cenovus Energy

In other news, Senior Officer Andrew Dahlin sold 20,000 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of C$27.08, for a total transaction of C$541,682.00. In related 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 stock was purchased at an average cost of C$23.49 per share, for a total transaction of C$1,174,500.00. Also, Senior Officer Andrew Dahlin sold 20,000 shares of Cenovus Energy stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of C$27.08, for a total value of C$541,682.00. Company insiders own 31.50% of the company’s stock.

About Cenovus Energy

(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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