Raymond James Financial Increases Cenovus Energy (TSE:CVE) Price Target to C$42.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price lifted by Raymond James Financial from C$33.00 to C$42.00 in a report issued on Monday,BayStreet.CA reports. Raymond James Financial’s price objective would suggest a potential upside of 12.93% from the stock’s current price.

A number of other research analysts also recently issued reports on CVE. Desjardins boosted their price objective on Cenovus Energy from C$33.00 to C$36.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Jefferies Financial Group lifted their target price on Cenovus Energy from C$30.00 to C$37.00 in a report on Monday, March 16th. TD Securities boosted their price target on Cenovus Energy from C$28.00 to C$35.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Royal Bank Of Canada increased their price target on Cenovus Energy from C$31.00 to C$32.00 and gave the stock an “outperform” rating in a report on Friday, February 20th. Finally, Scotiabank lifted their price objective 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. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$33.42.

Cenovus Energy Trading Down 0.1%

Shares of TSE CVE traded down C$0.04 during midday trading on Monday, reaching C$37.19. The stock had a trading volume of 6,818,921 shares, compared to its average volume of 10,121,116. The firm has a market cap of C$69.89 billion, a price-to-earnings ratio of 17.30, a price-to-earnings-growth ratio of 0.09 and a beta of 0.63. Cenovus Energy has a twelve month low of C$14.48 and a twelve month high of C$38.50. The company has a debt-to-equity ratio of 53.80, a quick ratio of 1.00 and a current ratio of 1.57. The company’s 50 day moving average price is C$30.09 and its 200 day moving average price is C$26.20.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted 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 company had revenue of C$10.88 billion during the quarter. As a group, sell-side analysts expect that Cenovus Energy will post 2.2619279 EPS for the current year.

Insider Transactions at Cenovus Energy

In other Cenovus Energy news, insider John F. Soini sold 10,275 shares of the firm’s stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of C$35.13, for a total value of C$360,960.75. Following the completion of the sale, the insider owned 2,114 shares of the company’s stock, valued at approximately C$74,264.82. This trade represents a 82.94% decrease in their ownership of the stock. Insiders own 32.03% of the company’s stock.

About Cenovus Energy

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.