Cenovus Energy (TSE:CVE) Given New C$26.00 Price Target at Royal Bank of Canada

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective dropped by stock analysts at Royal Bank of Canada from C$28.00 to C$26.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. Royal Bank of Canada’s price target points to a potential upside of 21.27% from the stock’s current price.

Other research analysts have also issued reports about the stock. Raymond James increased their price objective on shares of Cenovus Energy from C$32.00 to C$33.00 in a report on Friday, December 13th. Jefferies Financial Group decreased their price target on shares of Cenovus Energy from C$33.00 to C$32.00 and set a “buy” rating on the stock in a report on Friday, December 20th. National Bankshares dropped their price objective on Cenovus Energy from C$31.00 to C$29.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. TD Securities lowered their price target on Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Finally, BMO Capital Markets cut their price objective on Cenovus Energy from C$28.00 to C$25.00 in a report on Friday, December 13th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$30.67.

Cenovus Energy Trading Down 2.5 %

Shares of TSE:CVE traded down C$0.54 during trading on Tuesday, reaching C$21.44. The stock had a trading volume of 2,603,230 shares, compared to its average volume of 4,827,540. Cenovus Energy has a fifty-two week low of C$19.82 and a fifty-two week high of C$29.96. The business has a fifty day moving average price of C$21.86 and a 200-day moving average price of C$23.88. The stock has a market cap of C$39.88 billion, a P/E ratio of 8.54, a PEG ratio of 0.09 and a beta of 2.63. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 33.34.

Insider Transactions at Cenovus Energy

In other Cenovus Energy news, insider Cenovus Energy Inc. bought 44,700 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was acquired at an average cost of C$22.07 per share, with a total value of C$986,658.63. Also, Senior Officer Jeffery George Lawson purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average price of C$21.17 per share, with a total value of C$105,832.00. In the last three months, insiders purchased 55,300 shares of company stock valued at $1,214,190. Company insiders own 32.03% of the company’s stock.

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.