Cenovus Energy (TSE:CVE) PT Raised to C$33.00 at Royal Bank of Canada

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective boosted by equities research analysts at Royal Bank of Canada from C$32.00 to C$33.00 in a note issued to investors on Thursday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 17.73% from the company’s previous close.

Several other analysts also recently commented on CVE. BMO Capital Markets increased their target price on shares of Cenovus Energy from C$29.00 to C$33.00 in a report on Thursday, March 28th. JPMorgan Chase & Co. lowered their target price on Cenovus Energy from C$35.00 to C$34.00 in a research note on Thursday, January 11th. TD Securities raised their price objective on shares of Cenovus Energy from C$30.00 to C$32.00 and gave the stock a “buy” rating in a report on Thursday. Desjardins raised their price target on shares of Cenovus Energy from C$29.50 to C$31.50 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Finally, Scotiabank reduced their price objective 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 analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cenovus Energy presently has an average rating of “Moderate Buy” and a consensus price target of C$33.19.

Cenovus Energy Stock Down 0.5 %

Cenovus Energy stock opened at C$28.03 on Thursday. The firm has a market capitalization of C$52.42 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 0.09 and a beta of 2.78. The firm’s fifty day moving average price is C$26.88 and its two-hundred day moving average price is C$24.52. Cenovus Energy has a 1-year low of C$19.82 and a 1-year high of C$29.96. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 34.64.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its quarterly earnings results on Thursday, February 15th. The company reported C$0.39 earnings per share (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 the consensus estimate of C$13.06 billion. During the same quarter in the previous year, the business earned $0.39 EPS. On average, equities research analysts predict that Cenovus Energy will post 2.6887232 earnings per share for the current fiscal year.

Insider Buying and Selling at Cenovus Energy

In other news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of C$29.21, for a total value of C$525,835.80. In other news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of C$29.21, for a total transaction of C$525,835.80. Also, Senior Officer Andrew Dahlin sold 25,000 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of C$25.99, for a total transaction of C$649,657.50. Insiders sold 87,000 shares of company stock valued at $2,414,507 in the last quarter. 31.50% of the stock is currently owned by corporate insiders.

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.