Morgan Stanley Raises Cenovus Energy (TSE:CVE) Price Target to C$7.00
Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target hoisted by Morgan Stanley from C$5.00 to C$7.00 in a research note issued to investors on Wednesday morning, BayStreet.CA reports.
CVE has been the subject of a number of other reports. Tudor Pickering reaffirmed a hold rating and set a C$7.00 price target on shares of Cenovus Energy in a research report on Monday, June 8th. Canaccord Genuity decreased their price target on Cenovus Energy from C$14.00 to C$6.50 in a research report on Tuesday, March 10th. National Bank Financial increased their price target on Cenovus Energy from C$6.50 to C$11.00 and gave the company an outperform rating in a research report on Wednesday, June 24th. CIBC decreased their price target on Cenovus Energy from C$8.00 to C$6.00 in a research report on Wednesday, April 22nd. Finally, Tudor Pickering & Holt set a C$7.00 price target on Cenovus Energy and gave the company a hold rating in a research report on Monday, June 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of C$7.24.
CVE stock opened at C$5.99 on Wednesday. Cenovus Energy has a twelve month low of C$2.06 and a twelve month high of C$14.31. The company has a quick ratio of 0.43, a current ratio of 0.71 and a debt-to-equity ratio of 53.63. The stock’s 50 day moving average is C$6.26 and its 200-day moving average is C$7.77. The firm has a market capitalization of $7.24 billion and a PE ratio of 25.93.
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 and the United States. The company's Oil Sands segment develops and produces bitumen in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake.
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