Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target cut by Raymond James from C$8.00 to C$6.00 in a research note published on Wednesday morning, AnalystRatings.net reports. They currently have a market perform rating on the stock.
Several other equities analysts have also weighed in on the stock. CSFB restated an outperform rating and issued a C$8.00 price objective on shares of Cenovus Energy in a report on Wednesday, October 7th. Royal Bank of Canada restated an outperform rating and issued a C$7.00 price objective on shares of Cenovus Energy in a report on Monday, October 5th. JPMorgan Chase & Co. downgraded shares of Cenovus Energy from a neutral rating to an underweight rating and lowered their target price for the company from C$7.50 to C$6.00 in a research note on Thursday, October 1st. National Bank Financial upped their target price on shares of Cenovus Energy from C$6.50 to C$11.00 and gave the company an outperform rating in a research note on Wednesday, June 24th. Finally, Credit Suisse Group reaffirmed an outperform rating and issued a C$8.00 target price on shares of Cenovus Energy in a research note on Wednesday, October 7th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The company has an average rating of Hold and a consensus price target of C$7.19.
TSE:CVE opened at C$4.83 on Wednesday. The firm’s 50-day moving average is C$5.51 and its 200-day moving average is C$5.55. Cenovus Energy has a 52-week low of C$2.06 and a 52-week high of C$13.66. The company has a debt-to-equity ratio of 59.19, a quick ratio of 0.72 and a current ratio of 1.23. The company has a market cap of $5.94 billion and a price-to-earnings ratio of -3.43.
Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its quarterly earnings results on Thursday, July 23rd. The company reported C($0.34) EPS for the quarter, beating the Zacks’ consensus estimate of C($0.59) by C$0.25. The firm had revenue of C$2.17 billion during the quarter, compared to analyst estimates of C$2.66 billion. Equities analysts predict that Cenovus Energy will post -0.2247173 EPS for the current year.
In related news, Director Keith A.J. Macphail acquired 60,000 shares of the stock in a transaction dated Tuesday, July 28th. The stock was bought at an average price of C$6.48 per share, with a total value of C$388,800.00. Following the completion of the transaction, the director now directly owns 366,000 shares of the company’s stock, valued at C$2,371,680.
About Cenovus Energy
Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake.
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