Cenovus Energy (TSE:CVE) Price Target Increased to C$31.50 by Analysts at Desjardins

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective increased by analysts at Desjardins from C$29.50 to C$31.50 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price target suggests a potential upside of 8.25% from the stock’s current price.

Several other research analysts have also issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Cenovus Energy from C$35.00 to C$34.00 in a research note on Thursday, January 11th. Royal Bank of Canada lifted their target price on shares of Cenovus Energy from C$28.00 to C$32.00 in a report on Tuesday, April 9th. BMO Capital Markets upped their target price on shares of Cenovus Energy from C$29.00 to C$33.00 in a research report on Thursday, March 28th. Jefferies Financial Group raised their price target on Cenovus Energy from C$28.00 to C$36.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Finally, National Bankshares upped their price objective on Cenovus Energy from C$29.00 to C$38.00 and gave the company an “outperform” rating in a report on Friday, April 19th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Cenovus Energy presently has an average rating of “Moderate Buy” and an average target price of C$33.35.

Cenovus Energy Stock Performance

CVE stock opened at C$29.10 on Tuesday. The company has a 50 day moving average price of C$26.17 and a 200 day moving average price of C$24.46. Cenovus Energy has a fifty-two week low of C$19.82 and a fifty-two week high of C$29.96. The company has a debt-to-equity ratio of 34.64, a current ratio of 1.56 and a quick ratio of 1.00. The stock has a market capitalization of C$54.42 billion, a PE ratio of 13.73, a price-to-earnings-growth ratio of 0.09 and a beta of 2.78.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its earnings results on Thursday, February 15th. The company reported C$0.39 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.33 by C$0.06. The company had revenue of C$13.13 billion during 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 previous year, the company posted $0.39 earnings per share. Analysts forecast that Cenovus Energy will post 2.6887232 EPS for the current year.

Insider Transactions at Cenovus Energy

In other Cenovus Energy news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of Cenovus Energy stock in a transaction that occurred on 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 Gary Frederick Molnar sold 24,000 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of C$29.06, for a total transaction of C$697,332.00. Also, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of C$29.21, for a total value of C$525,835.80. Insiders have sold a total of 87,000 shares of company stock valued at $2,414,507 over the last 90 days. 31.50% of the stock is owned by company insiders.

About Cenovus Energy

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.