Cenovus Energy (TSE:CVE) Price Target Raised to C$35.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price raised by analysts at CIBC from C$31.00 to C$35.00 in a research note issued to investors on Monday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. CIBC’s price objective would suggest a potential upside of 20.44% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. National Bankshares boosted their price target on Cenovus Energy from C$29.00 to C$38.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. JPMorgan Chase & Co. dropped their price target on Cenovus Energy from C$35.00 to C$34.00 in a research report on Thursday, January 11th. Jefferies Financial Group boosted their price target on Cenovus Energy from C$28.00 to C$36.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Scotiabank dropped their price target on Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 16th. Finally, BMO Capital Markets boosted their price target on Cenovus Energy from C$29.00 to C$33.00 in a research report on Thursday, March 28th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$33.35.

Cenovus Energy Stock Up 0.4 %

CVE opened at C$29.06 on Monday. The business’s 50-day simple moving average is C$26.03 and its 200-day simple moving average is C$24.43. The company has a debt-to-equity ratio of 34.64, a quick ratio of 1.00 and a current ratio of 1.56. Cenovus Energy has a one year low of C$19.82 and a one year high of C$29.96. The stock has a market capitalization of C$54.34 billion, a P/E ratio of 13.71, a price-to-earnings-growth ratio of 0.09 and a beta of 2.78.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its earnings results on Thursday, February 15th. The company reported C$0.39 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of C$13.06 billion. During the same quarter in the previous year, the firm earned $0.39 earnings per share. Analysts anticipate that Cenovus Energy will post 2.6887232 EPS for the current year.

Insider Activity at Cenovus Energy

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