Cenovus Energy (TSE:CVE) PT Raised to C$38.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target boosted by National Bankshares from C$29.00 to C$38.00 in a note issued to investors on Friday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. National Bankshares’ price objective would suggest a potential upside of 32.45% from the company’s previous close.

A number of other research analysts also recently issued reports on CVE. Scotiabank reduced their price target on 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. reduced their price target on Cenovus Energy from C$35.00 to C$34.00 in a report on Thursday, January 11th. CIBC boosted their price target on Cenovus Energy from C$30.00 to C$31.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Royal Bank of Canada boosted their price target on Cenovus Energy from C$28.00 to C$32.00 in a report on Tuesday, April 9th. Finally, Desjardins upped their target price on Cenovus Energy from C$28.00 to C$29.50 and gave the stock a “buy” rating in a report on Friday, March 22nd. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$32.88.

Cenovus Energy Trading Up 0.8 %

TSE CVE opened at C$28.69 on Friday. Cenovus Energy has a 1-year low of C$19.82 and a 1-year high of C$29.96. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 34.64. The stock has a 50-day moving average of C$25.75 and a 200-day moving average of C$24.41. The firm has a market cap of C$53.65 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 0.09 and a beta of 2.78.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released 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. Cenovus Energy had a return on equity of 14.60% and a net margin of 7.87%. The company had revenue of C$13.13 billion during the quarter, compared to analyst estimates of C$13.06 billion. During the same quarter in the previous year, the company posted $0.39 EPS. As a group, sell-side analysts forecast that Cenovus Energy will post 2.6887232 EPS for the current year.

Insider Buying and Selling

In related news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the company’s 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 value of C$525,835.80. In related news, Senior Officer Andrew Dahlin sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of C$27.08, for a total value of C$541,682.00. Also, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the company’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 value of C$525,835.80. Insiders have sold 87,000 shares of company stock worth $2,414,507 in the last 90 days. 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.