Cenovus Energy (TSE:CVE) PT Lowered to C$31.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price decreased by stock analysts at National Bankshares from C$38.00 to C$31.00 in a research note issued to investors on Friday, BayStreet.CA reports. National Bankshares’ price target suggests a potential upside of 37.84% from the stock’s previous close.

A number of other analysts have also issued reports on the company. Royal Bank of Canada decreased their price target on Cenovus Energy from C$33.00 to C$29.00 in a research note on Tuesday, September 17th. Jefferies Financial Group lowered their target price on shares of Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating for the company in a report on Monday, September 16th. Desjardins increased their price target on shares of Cenovus Energy from C$31.50 to C$33.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Scotiabank decreased their price target on shares of Cenovus Energy from C$35.00 to C$34.00 in a report on Friday, July 12th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, Cenovus Energy currently has an average rating of “Buy” and a consensus target price of C$33.00.

Cenovus Energy Trading Up 2.5 %

Shares of CVE stock opened at C$22.49 on Friday. The company has a market capitalization of C$41.83 billion, a price-to-earnings ratio of 8.96, a PEG ratio of 0.09 and a beta of 2.67. The company has a current ratio of 1.66, a quick ratio of 1.00 and a debt-to-equity ratio of 33.34. The firm has a 50-day moving average price of C$24.84 and a 200 day moving average price of C$26.46. Cenovus Energy has a twelve month low of C$19.82 and a twelve month high of C$29.96.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its quarterly earnings data on Thursday, August 1st. The company reported C$0.53 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.72 by C($0.19). The firm had revenue of C$14.89 billion during the quarter, compared to analyst estimates of C$13.44 billion. Cenovus Energy had a net margin of 8.54% and a return on equity of 16.69%. Research analysts forecast that Cenovus Energy will post 2.2599805 earnings per share for the current fiscal year.

Insider Activity at Cenovus Energy

In other news, Senior Officer Jeffery George Lawson acquired 7,500 shares of the stock in a transaction on Monday, August 12th. The stock was 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 purchased 25,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were 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 firm’s stock in a transaction 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. In the last ninety days, insiders have purchased 148,200 shares of company stock worth $3,369,477. 31.71% of the stock is currently owned by company 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.