Cenovus Energy (TSE:CVE) Price Target Lowered to C$28.00 at National Bankshares

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective cut by research analysts at National Bankshares from C$29.00 to C$28.00 in a research note issued on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bankshares’ price target would indicate a potential upside of 29.21% from the company’s current price.

A number of other equities analysts have also recently weighed in on CVE. BMO Capital Markets lowered their price target on Cenovus Energy from C$28.00 to C$25.00 in a report on Friday, December 13th. TD Securities lowered their target price on shares of Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Raymond James boosted their price target on shares of Cenovus Energy from C$32.00 to C$33.00 in a research note on Friday, December 13th. Jefferies Financial Group dropped their target price on shares of Cenovus Energy from C$32.00 to C$30.00 in a report on Thursday. Finally, Royal Bank of Canada decreased their price target on Cenovus Energy from C$28.00 to C$26.00 in a research note on Tuesday, January 14th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of C$30.33.

Cenovus Energy Price Performance

TSE CVE traded up C$0.09 during trading hours on Thursday, hitting C$21.67. 1,189,341 shares of the company’s stock traded hands, compared to its average volume of 4,443,037. The company has a debt-to-equity ratio of 33.34, a current ratio of 1.66 and a quick ratio of 1.00. The firm’s 50-day moving average is C$21.66 and its 200-day moving average is C$23.42. Cenovus Energy has a 52-week low of C$20.42 and a 52-week high of C$29.96. The company has a market capitalization of C$40.31 billion, a PE ratio of 8.63, a PEG ratio of 0.09 and a beta of 2.63.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its earnings results on Thursday, October 31st. The company reported C$0.42 earnings per share for the quarter, missing the consensus estimate of C$0.46 by C($0.04). Cenovus Energy had a net margin of 8.54% and a return on equity of 16.69%. During the same quarter last year, the business earned $0.97 earnings per share. Equities analysts forecast that Cenovus Energy will post 2.2619279 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Cenovus Energy Inc. bought 44,700 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was purchased at an average price of C$22.07 per share, for a total transaction of C$986,658.63. Also, Senior Officer Jeffery George Lawson purchased 5,000 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were acquired at an average cost of C$21.17 per share, with a total value of C$105,832.00. Insiders purchased 55,300 shares of company stock valued at $1,214,190 in the last three months. 32.03% of the stock is owned by corporate insiders.

Cenovus Energy Company Profile

Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 472 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds 6.7 billion boe of proven and probable reserves.