Cenovus Energy (TSE:CVE) Given New C$25.00 Price Target at CIBC

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target hoisted by investment analysts at CIBC from C$24.00 to C$25.00 in a note issued to investors on Thursday, BayStreet.CA reports. CIBC’s target price would indicate a potential upside of 34.12% from the company’s previous close.

CVE has been the subject of several other reports. National Bank Financial lifted their price target on shares of Cenovus Energy from C$22.00 to C$25.00 and gave the company an “outperform” rating in a research note on Thursday, January 6th. Citigroup lifted their price target on shares of Cenovus Energy from C$14.00 to C$17.00 in a research note on Wednesday, October 20th. TD Securities lifted their price target on shares of Cenovus Energy from C$19.50 to C$21.00 and gave the company a “buy” rating in a research note on Thursday, November 4th. Tudor Pickering reaffirmed a “buy” rating and issued a C$19.00 price target on shares of Cenovus Energy in a research note on Friday, December 17th. Finally, CSFB lifted their price target on shares of Cenovus Energy from C$20.00 to C$22.00 in a research note on Thursday, January 6th. Fifteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of C$19.40.

Shares of TSE CVE opened at C$18.64 on Thursday. Cenovus Energy has a twelve month low of C$7.12 and a twelve month high of C$18.76. The firm has a fifty day simple moving average of C$15.93 and a 200 day simple moving average of C$13.17. The company has a market capitalization of C$37.61 billion and a PE ratio of 42.85. The company has a quick ratio of 0.87, a current ratio of 1.34 and a debt-to-equity ratio of 66.06.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its earnings results on Wednesday, November 3rd. The company reported C$0.27 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.44 by C($0.17). The company had revenue of C$13.43 billion for the quarter. As a group, equities analysts expect that Cenovus Energy will post 2.23 earnings per share for the current fiscal year.

In other news, Senior Officer Karamjit Singh Sandhar purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 29th. The shares were acquired at an average cost of C$15.65 per share, for a total transaction of C$156,500.00. Following the completion of the acquisition, the insider now owns 38,562 shares in the company, valued at C$603,495.30.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada, the United States and the Asia Pacific region. The company operates through Oil Sands, Conventional, and Refining and Marketing segments. The Oil Sands segment develops and produces bitumen in northeast Alberta.

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Analyst Recommendations for Cenovus Energy (TSE:CVE)

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