Cenovus Energy (TSE:CVE) Price Target Raised to C$31.50 at Desjardins

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price raised by Desjardins from C$29.50 to C$31.50 in a report issued on Tuesday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ price target would indicate a potential upside of 8.28% from the company’s current price.

CVE has been the topic of a number of other reports. National Bankshares upped their target price on Cenovus Energy from C$29.00 to C$38.00 and gave the stock an “outperform” rating in a research note on Friday. Jefferies Financial Group raised their price objective on Cenovus Energy from C$28.00 to C$36.00 and gave the company a “buy” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. reduced their target price on Cenovus Energy from C$35.00 to C$34.00 in a report on Thursday, January 11th. BMO Capital Markets raised their price target on Cenovus Energy from C$29.00 to C$33.00 in a research note on Thursday, March 28th. Finally, CIBC raised their price target on Cenovus Energy from C$31.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Monday. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Cenovus Energy currently has an average rating of “Moderate Buy” and a consensus target price of C$33.35.

Cenovus Energy Trading Up 0.5 %

TSE CVE traded up C$0.15 during trading hours on Tuesday, hitting C$29.09. 1,707,950 shares of the company’s stock were exchanged, compared to its average volume of 4,658,938. The stock has a 50-day simple moving average of C$25.89 and a 200 day simple moving average of C$24.41. Cenovus Energy has a 1-year low of C$19.82 and a 1-year high of C$29.96. The firm has a market cap of C$54.40 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 0.09 and a beta of 2.78. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 34.64.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its earnings results on Thursday, February 15th. The company reported C$0.39 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.33 by C$0.06. The company had revenue of C$13.13 billion for 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 quarter last year, the company earned $0.39 earnings per share. On average, equities analysts forecast that Cenovus Energy will post 2.6887232 EPS for the current fiscal year.

Insider Buying and Selling at Cenovus Energy

In related news, Senior Officer Jonathan Michael Mckenzie purchased 50,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were purchased at an average cost of C$23.49 per share, for a total transaction of C$1,174,500.00. In related news, Senior Officer Andrew Dahlin sold 25,000 shares of the business’s stock in a transaction dated 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 Jonathan Michael Mckenzie purchased 50,000 shares of Cenovus Energy stock in a transaction on Friday, February 16th. The stock was acquired at an average cost of C$23.49 per share, for a total transaction of C$1,174,500.00. Insiders sold 87,000 shares of company stock valued at $2,414,507 in the last 90 days. Company insiders own 31.50% of the company’s stock.

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.