Cenovus Energy (TSE:CVE) Price Target Raised to C$37.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price hoisted by analysts at Jefferies Financial Group from C$30.00 to C$37.00 in a research note issued on Monday,BayStreet.CA reports. Jefferies Financial Group’s target price points to a potential upside of 15.05% from the company’s previous close.

A number of other analysts have also recently issued reports on the stock. Veritas raised shares of Cenovus Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, March 10th. Scotiabank lifted their target price on shares of Cenovus Energy from C$30.00 to C$34.00 and gave the company an “outperform” rating in a research note on Friday, February 20th. JPMorgan Chase & Co. downgraded shares of Cenovus Energy from a “buy” rating to a “neutral” rating and set a C$25.00 target price for the company. in a report on Tuesday, January 20th. BMO Capital Markets cut their price target on Cenovus Energy from C$38.00 to C$35.00 and set an “outperform” rating for the company in a research note on Friday, February 20th. Finally, ATB Cormark Capital Markets raised their price target on Cenovus Energy from C$29.00 to C$34.00 in a report on Monday, February 23rd. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$32.67.

Cenovus Energy Stock Performance

TSE:CVE traded up C$0.31 during trading hours on Monday, reaching C$32.16. The company had a trading volume of 3,323,287 shares, compared to its average volume of 10,017,305. The firm has a market cap of C$60.44 billion, a price-to-earnings ratio of 14.96, a PEG ratio of 0.09 and a beta of 0.63. The company has a current ratio of 1.57, a quick ratio of 1.00 and a debt-to-equity ratio of 53.80. The firm’s 50 day moving average price is C$27.94 and its 200-day moving average price is C$25.39. Cenovus Energy has a 52 week low of C$14.48 and a 52 week high of C$32.74.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last issued its quarterly earnings data on Thursday, February 19th. The company reported C$0.50 earnings per share for the quarter. Cenovus Energy had a net margin of 7.91% and a return on equity of 13.16%. The firm had revenue of C$10.88 billion for the quarter. On average, analysts forecast that Cenovus Energy will post 2.2619279 EPS for the current year.

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.