TD Securities Increases Cenovus Energy (TSE:CVE) Price Target to C$32.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price hoisted by equities researchers at TD Securities from C$30.00 to C$32.00 in a report released on Thursday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ target price suggests a potential upside of 14.16% from the company’s current price.

A number of other analysts have also recently weighed in on CVE. JPMorgan Chase & Co. lowered their price target on Cenovus Energy from C$35.00 to C$34.00 in a research report on Thursday, January 11th. Scotiabank lowered their target price on shares of Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating on the stock in a report on Tuesday, January 16th. BMO Capital Markets lifted their price target on shares of Cenovus Energy from C$29.00 to C$33.00 in a report on Thursday, March 28th. CIBC boosted their price target on shares of Cenovus Energy from C$31.00 to C$35.00 and gave the company an “outperform” rating in a research report on Monday, April 22nd. Finally, Royal Bank of Canada raised their price objective on shares of Cenovus Energy from C$28.00 to C$32.00 in a report on Tuesday, April 9th. One investment 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, Cenovus Energy presently has a consensus rating of “Moderate Buy” and an average price target of C$33.19.

Cenovus Energy Price Performance

Shares of Cenovus Energy stock opened at C$28.03 on Thursday. The firm has a market cap of C$52.42 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 0.09 and a beta of 2.78. The firm’s 50-day simple moving average is C$26.88 and its 200-day simple moving average is C$24.52. Cenovus Energy has a twelve month low of C$19.82 and a twelve month high of C$29.96. 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 (TSE:CVE) (NYSE:CVE) last announced its quarterly 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 net margin of 7.87% and a return on equity of 14.60%. The firm had revenue of C$13.13 billion during the quarter, compared to analysts’ expectations of C$13.06 billion. During the same quarter last year, the company earned $0.39 earnings per share. As a group, research analysts expect that Cenovus Energy will post 2.6887232 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Senior Officer Andrew Dahlin sold 25,000 shares of Cenovus Energy stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of C$25.99, for a total value of C$649,657.50. In other Cenovus Energy news, Senior Officer Jonathan Michael Mckenzie purchased 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was acquired at an average cost of C$23.49 per share, with a total value of C$1,174,500.00. Also, Senior Officer Andrew Dahlin sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of C$25.99, for a total transaction of C$649,657.50. In the last quarter, insiders have sold 87,000 shares of company stock valued at $2,414,507. 31.50% of the stock is currently owned by corporate 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.