Cenovus Energy (TSE:CVE) Price Target Raised to C$42.00 at Raymond James Financial

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective lifted by Raymond James Financial from C$33.00 to C$42.00 in a note issued to investors on Monday,BayStreet.CA reports. Raymond James Financial’s price objective would suggest a potential upside of 12.93% from the company’s current price.

Other analysts also recently issued reports about the company. National Bank Financial increased their price objective on Cenovus Energy from C$29.00 to C$34.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. downgraded Cenovus Energy from a “buy” rating to a “neutral” rating and set a C$25.00 price target for the company. in a report on Tuesday, January 20th. Desjardins increased their price target on Cenovus Energy from C$33.00 to C$36.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Gerdes Energy Research cut Cenovus Energy from a “buy” rating to a “neutral” rating in a research note on Friday, March 20th. Finally, Scotiabank upped their target price on shares of Cenovus Energy from C$30.00 to C$34.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of C$33.42.

Cenovus Energy Stock Down 0.1%

Shares of TSE CVE traded down C$0.04 during mid-day trading on Monday, reaching C$37.19. 6,818,921 shares of the company’s stock traded hands, compared to its average volume of 10,121,116. The company has a debt-to-equity ratio of 53.80, a current ratio of 1.57 and a quick ratio of 1.00. The business has a 50-day simple moving average of C$30.09 and a 200 day simple moving average of C$26.20. The stock has a market cap of C$69.89 billion, a P/E ratio of 17.30, a PEG ratio of 0.09 and a beta of 0.63. Cenovus Energy has a 1-year low of C$14.48 and a 1-year high of C$38.50.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings results on Thursday, February 19th. The company reported C$0.50 earnings per share for the quarter. The business had revenue of C$10.88 billion for the quarter. Cenovus Energy had a net margin of 7.91% and a return on equity of 13.16%. On average, analysts expect that Cenovus Energy will post 2.2619279 EPS for the current fiscal year.

Insider Buying and Selling

In other Cenovus Energy news, insider John F. Soini sold 10,275 shares of the business’s stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of C$35.13, for a total value of C$360,960.75. Following the transaction, the insider owned 2,114 shares of the company’s stock, valued at approximately C$74,264.82. The trade was a 82.94% decrease in their ownership of the stock. Company insiders own 32.03% of the company’s stock.

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.