Cenovus Energy (TSE:CVE) Given a C$60.00 Price Target by National Bank Financial Analysts

Cenovus Energy (TSE:CVE) (NYSE:CVE) has been assigned a C$60.00 price target by National Bank Financial in a report issued on Tuesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. National Bank Financial’s target price would indicate a potential upside of 38.28% from the stock’s previous close.

Several other research firms have also commented on CVE. Desjardins set a C$50.00 price objective on shares of Cenovus Energy and gave the company a “buy” rating in a research note on Friday, July 17th. Raymond James Financial increased their target price on shares of Cenovus Energy from C$41.00 to C$46.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Scotiabank boosted their price target on shares of Cenovus Energy from C$49.00 to C$51.00 and gave the stock a “sector outperform” rating in a research note on Thursday, July 30th. Royal Bank Of Canada upped their price objective on Cenovus Energy from C$47.00 to C$51.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Finally, Scotia lifted their target price on Cenovus Energy from C$38.00 to C$44.00 and gave the company a “sector outperform” rating in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cenovus Energy presently has an average rating of “Buy” and an average price target of C$43.93.

Cenovus Energy Trading Down 2.6%

Shares of CVE stock traded down C$1.18 on Tuesday, hitting C$43.39. The stock had a trading volume of 3,363,879 shares, compared to its average volume of 7,572,393. The company has a debt-to-equity ratio of 34.01, a current ratio of 1.63 and a quick ratio of 1.00. The firm has a market capitalization of C$80.02 billion, a P/E ratio of 12.05, a P/E/G ratio of 0.09 and a beta of 0.16. Cenovus Energy has a 1 year low of C$21.62 and a 1 year high of C$45.94. The company’s 50 day moving average price is C$39.27 and its 200-day moving average price is C$36.86.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its earnings results on Wednesday, July 29th. The company reported C$1.53 EPS for the quarter. The company had revenue of C$17.43 billion during the quarter. Cenovus Energy had a return on equity of 21.02% and a net margin of 12.37%. Analysts anticipate that Cenovus Energy will post 2.2619279 earnings per share for the current year.

Insider Activity

In other Cenovus Energy news, Director Alex Pourbaix sold 30,186 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of C$42.17, for a total value of C$1,272,943.62. Following the sale, the director directly owned 1,455,996 shares in the company, valued at C$61,399,351.32. This trade represents a 2.03% decrease in their ownership of the stock. Also, insider John F. Soini sold 26,223 shares of Cenovus Energy stock in a transaction dated Friday, August 21st. The stock was sold at an average price of C$44.92, for a total value of C$1,177,937.16. Following the sale, the insider directly owned 2,114 shares of the company’s stock, valued at C$94,960.88. This trade represents a 92.54% decrease in their ownership of the stock. In the last three months, insiders have sold 670,911 shares of company stock worth $28,287,691. 32.03% of the stock is currently owned by corporate insiders.

Cenovus Energy Company Profile

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.