Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective raised by BMO Capital Markets from C$16.00 to C$17.00 in a report released on Monday, BayStreet.CA reports. BMO Capital Markets’ price target suggests a potential upside of 34.18% from the stock’s previous close.
A number of other equities research analysts also recently commented on CVE. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Cenovus Energy in a research report on Thursday, September 16th. CIBC reissued an “outperform” rating and issued a C$20.00 price objective on shares of Cenovus Energy in a research note on Thursday, July 29th. Barclays increased their price objective on Cenovus Energy from C$11.00 to C$12.00 and gave the stock a “na” rating in a research note on Friday, July 16th. CSFB raised Cenovus Energy from a “neutral” rating to an “outperform” rating and increased their target price for the company from C$13.00 to C$15.00 in a research report on Monday, July 19th. Finally, Tudor Pickering & Holt set a C$13.00 price objective on Cenovus Energy and gave the company a “buy” rating in a report on Friday, August 13th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of C$14.51.
Shares of Cenovus Energy stock traded up C$0.55 during trading on Monday, reaching C$12.67. The company’s stock had a trading volume of 5,512,757 shares, compared to its average volume of 6,281,739. Cenovus Energy has a 52-week low of C$4.15 and a 52-week high of C$12.86. The company has a market cap of C$25.56 billion and a price-to-earnings ratio of 287.05. The firm’s 50-day moving average is C$10.50 and its two-hundred day moving average is C$10.45. The company has a quick ratio of 0.71, a current ratio of 1.20 and a debt-to-equity ratio of 69.93.
About Cenovus Energy
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, and Refining and Marketing segments. The Oil Sands segment develops and produces bitumen in northeast Alberta.
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