Cenovus Energy (TSE:CVE) PT Raised to C$32.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target lifted by analysts at Royal Bank of Canada from C$28.00 to C$32.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. Royal Bank of Canada’s price target points to a potential upside of 9.74% from the company’s previous close.

Other research analysts have also recently issued reports about the company. CIBC boosted their target price on Cenovus Energy from C$30.00 to C$31.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. JPMorgan Chase & Co. reduced their price target on shares of Cenovus Energy from C$35.00 to C$34.00 in a research report on Thursday, January 11th. Jefferies Financial Group lifted their price target on shares of Cenovus Energy from C$27.00 to C$28.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Scotiabank reduced their price target on shares of 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, National Bankshares reduced their price target on shares of Cenovus Energy from C$36.00 to C$29.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 10th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Cenovus Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of C$31.58.

Cenovus Energy Price Performance

CVE stock traded up C$0.02 during trading on Tuesday, hitting C$29.16. The stock had a trading volume of 2,169,154 shares, compared to its average volume of 4,561,827. The company has a debt-to-equity ratio of 34.64, a current ratio of 1.56 and a quick ratio of 1.00. Cenovus Energy has a twelve month low of C$19.82 and a twelve month high of C$29.39. The stock has a market capitalization of C$54.53 billion, a P/E ratio of 13.76, a PEG ratio of 0.09 and a beta of 2.79. The company’s 50-day moving average price is C$24.46 and its two-hundred day moving average price is C$24.31.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its quarterly earnings data on Thursday, February 15th. The company reported C$0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.33 by C$0.06. The company had revenue of C$13.13 billion for the quarter, compared to analysts’ expectations 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 period in the previous year, the firm posted $0.39 EPS. As a group, research analysts predict that Cenovus Energy will post 2.731203 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cenovus Energy news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the business’s stock in a transaction 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 Jonathan Michael Mckenzie bought 50,000 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was purchased at an average price of C$23.49 per share, for a total transaction of C$1,174,500.00. Also, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of C$29.21, for a total transaction of C$525,835.80. Insiders sold a total of 87,000 shares of company stock worth $2,414,507 over the last 90 days. Corporate insiders own 31.50% of the company’s stock.

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.