Cenovus Energy (TSE:CVE) PT Lowered to C$34.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective cut by Scotiabank from C$35.00 to C$34.00 in a report released on Friday, BayStreet.CA reports. Scotiabank’s price objective indicates a potential upside of 25.23% from the stock’s current price.

Several other equities research analysts have also commented on the company. TD Securities upped their target price on Cenovus Energy from C$30.00 to C$32.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. CIBC raised their price objective on Cenovus Energy from C$31.00 to C$35.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd. Royal Bank of Canada raised their price objective on Cenovus Energy from C$32.00 to C$33.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. National Bankshares raised their price objective on Cenovus Energy from C$29.00 to C$38.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Finally, Desjardins raised their price objective on Cenovus Energy from C$29.50 to C$31.50 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of C$33.96.

Cenovus Energy Trading Up 0.2 %

TSE CVE opened at C$27.15 on Friday. The business’s 50-day moving average price is C$27.00 and its two-hundred day moving average price is C$25.38. Cenovus Energy has a 12 month low of C$19.82 and a 12 month high of C$29.96. The firm has a market capitalization of C$50.77 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 0.09 and a beta of 2.77. The company has a current ratio of 1.70, a quick ratio of 1.00 and a debt-to-equity ratio of 33.03.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its earnings results on Wednesday, May 1st. The company reported C$0.62 EPS for the quarter, beating the consensus estimate of C$0.47 by C$0.15. Cenovus Energy had a return on equity of 16.11% and a net margin of 8.72%. The company had revenue of C$13.40 billion for the quarter, compared to analyst estimates of C$13.71 billion. On average, analysts expect that Cenovus Energy will post 2.7840467 EPS for the current year.

Insider Buying and Selling

In related news, Director Alex Pourbaix sold 200,000 shares of Cenovus Energy stock in a transaction on Monday, June 17th. The stock was sold at an average price of C$25.14, for a total transaction of C$5,028,880.00. In other Cenovus Energy news, Senior Officer Jonathan Michael Mckenzie sold 180,180 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of C$28.26, for a total value of C$5,091,508.42. Also, Director Alex Pourbaix sold 200,000 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of C$25.14, for a total value of C$5,028,880.00. Over the last three months, insiders have acquired 13,000 shares of company stock worth $321,710 and have sold 864,176 shares worth $22,697,316. 31.50% of the stock is currently owned by corporate 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.