Cenovus Energy (TSE:CVE) Given New C$34.00 Price Target at National Bankshares

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price hoisted by stock analysts at National Bankshares from C$29.00 to C$34.00 in a research note issued on Tuesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. National Bankshares’ price objective points to a potential upside of 25.37% from the stock’s previous close.

CVE has been the topic of a number of other research reports. Raymond James Financial raised Cenovus Energy from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from C$30.00 to C$32.00 in a research report on Thursday, October 9th. Royal Bank Of Canada dropped their price target on Cenovus Energy from C$32.00 to C$29.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 13th. Desjardins lifted their price objective on shares of Cenovus Energy from C$33.00 to C$33.50 and gave the stock a “buy” rating in a research report on Friday, December 12th. The Goldman Sachs Group upgraded shares of Cenovus Energy to a “strong-buy” rating in a report on Friday, January 2nd. Finally, Scotiabank raised their target price on shares of Cenovus Energy from C$29.00 to C$30.00 and gave the stock a “hold” rating in a research note on Tuesday, January 20th. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$29.41.

Cenovus Energy Stock Up 2.0%

Shares of TSE:CVE traded up C$0.53 during midday trading on Tuesday, reaching C$27.12. The company had a trading volume of 3,683,360 shares, compared to its average volume of 9,951,074. Cenovus Energy has a 1-year low of C$14.48 and a 1-year high of C$27.98. The stock has a market cap of C$51.16 billion, a PE ratio of 15.68, a P/E/G ratio of 0.09 and a beta of 0.50. The company has a quick ratio of 1.00, a current ratio of 1.59 and a debt-to-equity ratio of 33.59. The business’s 50 day moving average price is C$24.38 and its 200 day moving average price is C$23.47.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings data on Friday, October 31st. The company reported C$0.72 earnings per share (EPS) for the quarter. Cenovus Energy had a return on equity of 12.67% and a net margin of 6.72%.The company had revenue of C$13.20 billion for the quarter. Research analysts forecast that Cenovus Energy will post 2.2619279 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cenovus Energy news, Director Michael John Crothers purchased 2,000 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was purchased at an average cost of C$24.23 per share, for a total transaction of C$48,460.00. Following the transaction, the director owned 8,000 shares in the company, valued at C$193,840. The trade was a 33.33% increase in their position. 32.03% of the stock is owned by insiders.

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.