National Bankshares Issues Pessimistic Forecast for Cenovus Energy (TSE:CVE) Stock Price

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective dropped by equities research analysts at National Bankshares from C$29.00 to C$28.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bankshares’ price objective indicates a potential upside of 29.21% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. BMO Capital Markets lowered their target price on shares of Cenovus Energy from C$28.00 to C$25.00 in a report on Friday, December 13th. TD Securities dropped their target price on Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Raymond James increased their price target on Cenovus Energy from C$32.00 to C$33.00 in a report on Friday, December 13th. Jefferies Financial Group dropped their price objective on Cenovus Energy from C$32.00 to C$30.00 in a report on Thursday. Finally, Royal Bank of Canada cut their price objective on Cenovus Energy from C$28.00 to C$26.00 in a research report on Tuesday, January 14th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Cenovus Energy presently has an average rating of “Buy” and an average price target of C$30.33.

Cenovus Energy Trading Up 0.4 %

CVE stock traded up C$0.09 during midday trading on Thursday, reaching C$21.67. 1,189,341 shares of the company traded hands, compared to its average volume of 4,443,037. The firm has a market capitalization of C$40.31 billion, a price-to-earnings ratio of 8.63, a P/E/G ratio of 0.09 and a beta of 2.63. Cenovus Energy has a 52-week low of C$20.42 and a 52-week high of C$29.96. The business has a 50 day moving average of C$21.66 and a 200-day moving average of C$23.42. The company has a debt-to-equity ratio of 33.34, a quick ratio of 1.00 and a current ratio of 1.66.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its quarterly earnings results on Thursday, October 31st. The company reported C$0.42 earnings per share for the quarter, missing the consensus estimate of C$0.46 by C($0.04). Cenovus Energy had a net margin of 8.54% and a return on equity of 16.69%. During the same period in the previous year, the business posted $0.97 EPS. As a group, sell-side analysts expect that Cenovus Energy will post 2.2619279 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Cenovus Energy Inc. acquired 44,700 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was bought at an average price of C$22.07 per share, with a total value of C$986,658.63. Also, Senior Officer Jeffery George Lawson purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The stock was acquired at an average price of C$21.17 per share, with a total value of C$105,832.00. In the last ninety days, insiders acquired 55,300 shares of company stock valued at $1,214,190. 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.