Cenovus Energy (TSE:CVE) Given New C$38.00 Price Target at National Bankshares

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective increased by research analysts at National Bankshares from C$29.00 to C$38.00 in a research note issued to investors on Friday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bankshares’ target price indicates a potential upside of 32.27% from the stock’s current price.

CVE has been the topic of several other research reports. Scotiabank dropped their target price on shares of Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating on the stock in a report on Tuesday, January 16th. JPMorgan Chase & Co. cut their price objective on Cenovus Energy from C$35.00 to C$34.00 in a research report on Thursday, January 11th. Royal Bank of Canada raised their target price on Cenovus Energy from C$28.00 to C$32.00 in a report on Tuesday, April 9th. BMO Capital Markets lifted their price target on Cenovus Energy from C$29.00 to C$33.00 in a research report on Thursday, March 28th. Finally, CIBC increased their price objective on Cenovus Energy from C$30.00 to C$31.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$32.88.

Cenovus Energy Stock Up 0.9 %

Shares of TSE:CVE traded up C$0.27 during midday trading on Friday, hitting C$28.73. 3,348,231 shares of the stock were exchanged, compared to its average volume of 4,691,509. The company has a market capitalization of C$53.73 billion, a PE ratio of 13.58, a P/E/G ratio of 0.09 and a beta of 2.78. Cenovus Energy has a 52-week low of C$19.82 and a 52-week high of C$29.96. The company has a debt-to-equity ratio of 34.64, a quick ratio of 1.00 and a current ratio of 1.56. The business’s fifty day simple moving average is C$25.62 and its two-hundred day simple moving average is C$24.42.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings results on Thursday, February 15th. The company reported C$0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.33 by C$0.06. The business had revenue of C$13.13 billion during the quarter, compared to analyst estimates of C$13.06 billion. Cenovus Energy had a return on equity of 14.60% and a net margin of 7.87%. During the same period in the previous year, the company earned $0.39 EPS. As a group, research analysts predict that Cenovus Energy will post 2.6887232 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of C$29.21, for a total transaction of C$525,835.80. In other news, Senior Officer Andrew Dahlin sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of C$25.99, for a total transaction of C$649,657.50. Also, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of C$29.21, for a total transaction of C$525,835.80. Over the last ninety days, insiders have sold 87,000 shares of company stock valued at $2,414,507. 31.50% of the stock is currently 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.