Cenovus Energy (TSE:CVE) Price Target Raised to C$36.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price raised by equities researchers at Jefferies Financial Group from C$28.00 to C$36.00 in a report released on Friday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 23.71% from the company’s current price.

Several other equities research analysts have also weighed in on CVE. National Bankshares lowered their target price on shares of Cenovus Energy from C$36.00 to C$29.00 and set an “outperform” rating on the stock in a report on Wednesday, January 10th. Scotiabank decreased their price objective on shares of Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating on the stock in a report on Tuesday, January 16th. Desjardins increased their price objective on shares of Cenovus Energy from C$28.00 to C$29.50 and gave the stock a “buy” rating in a report on Friday, March 22nd. JPMorgan Chase & Co. decreased their price objective on shares of Cenovus Energy from C$35.00 to C$34.00 in a report on Thursday, January 11th. Finally, CIBC increased their price objective on shares of Cenovus Energy from C$30.00 to C$31.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$32.19.

Cenovus Energy Price Performance

Shares of CVE stock traded up C$0.23 during mid-day trading on Friday, reaching C$29.10. The company’s stock had a trading volume of 3,505,835 shares, compared to its average volume of 4,584,689. The firm’s 50-day moving average is C$24.77 and its two-hundred day moving average is C$24.37. The company has a debt-to-equity ratio of 34.64, a quick ratio of 1.00 and a current ratio of 1.56. Cenovus Energy has a 1-year low of C$19.82 and a 1-year high of C$29.96. The company has a market cap of C$54.42 billion, a P/E ratio of 13.70, a PEG ratio of 0.09 and a beta of 2.79.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its earnings results on Thursday, February 15th. The company reported C$0.39 earnings per share for the quarter, topping the consensus estimate of C$0.33 by C$0.06. Cenovus Energy had a net margin of 7.87% and a return on equity of 14.60%. The business had revenue of C$13.13 billion for the quarter, compared to analyst estimates of C$13.06 billion. During the same quarter in the prior year, the firm earned $0.39 EPS. On average, research analysts predict that Cenovus Energy will post 2.731203 earnings per share for the current year.

Insider Activity

In other news, Senior Officer Jonathan Michael Mckenzie purchased 50,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were acquired at an average cost of C$23.49 per share, for a total transaction of C$1,174,500.00. In other news, Senior Officer Jonathan Michael Mckenzie purchased 50,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were acquired at an average cost of C$23.49 per share, for a total transaction of C$1,174,500.00. Also, Senior Officer Andrew Dahlin sold 20,000 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of C$27.08, for a total transaction of C$541,682.00. In the last quarter, insiders have sold 87,000 shares of company stock valued at $2,414,507. 31.50% of the stock is currently owned by insiders.

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.