Cenovus Energy (TSE:CVE) Price Target Lowered to C$31.00 at BMO Capital Markets

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price reduced by stock analysts at BMO Capital Markets from C$33.00 to C$31.00 in a note issued to investors on Friday, BayStreet.CA reports. BMO Capital Markets’ price objective suggests a potential upside of 26.22% from the stock’s current price.

Other equities analysts have also issued reports about the stock. TD Securities raised shares of Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Desjardins lifted their target price on shares of Cenovus Energy from C$31.50 to C$33.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. National Bankshares cut their target price on shares of Cenovus Energy from C$38.00 to C$31.00 in a report on Friday, September 27th. Scotiabank cut their target price on shares of Cenovus Energy from C$35.00 to C$34.00 in a report on Friday, July 12th. Finally, Royal Bank of Canada cut their target price on shares of Cenovus Energy from C$33.00 to C$29.00 in a report on Tuesday, September 17th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$32.77.

Cenovus Energy Stock Performance

CVE traded up C$0.39 during trading on Friday, reaching C$24.56. 2,247,778 shares of the company’s stock were exchanged, compared to its average volume of 5,415,697. Cenovus Energy has a 1 year low of C$19.82 and a 1 year high of C$29.96. The company has a debt-to-equity ratio of 33.34, a current ratio of 1.66 and a quick ratio of 1.00. The stock has a market capitalization of C$45.68 billion, a P/E ratio of 9.78, a price-to-earnings-growth ratio of 0.09 and a beta of 2.67. The company’s fifty day simple moving average is C$24.53 and its 200-day simple moving average is C$26.43.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its quarterly earnings results on Thursday, August 1st. The company reported C$0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.72 by C($0.19). Cenovus Energy had a return on equity of 16.69% and a net margin of 8.54%. The business had revenue of C$14.89 billion for the quarter, compared to analysts’ expectations of C$13.44 billion. As a group, research analysts predict that Cenovus Energy will post 2.0660125 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cenovus Energy news, Senior Officer Jeffery George Lawson bought 7,500 shares of the stock in a transaction on Monday, August 12th. The shares were bought at an average price of C$25.98 per share, with a total value of C$194,850.00. In other news, Senior Officer Keith Chiasson acquired 25,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of C$23.40 per share, with a total value of C$585,000.00. Also, Senior Officer Jeffery George Lawson acquired 7,500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of C$25.98 per share, with a total value of C$194,850.00. Insiders have acquired a total of 152,200 shares of company stock valued at $3,459,477 in the last 90 days. 32.03% of the stock is 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.