Cenovus Energy (TSE:CVE) Price Target Lowered to C$29.00 at TD Securities

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target reduced by analysts at TD Securities from C$31.00 to C$29.00 in a report released on Friday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ target price points to a potential upside of 33.83% from the company’s current price.

Several other research analysts also recently commented on the company. BMO Capital Markets reduced their target price on Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Jefferies Financial Group dropped their price target on Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating for the company in a report on Monday, September 16th. Raymond James lowered their price target on Cenovus Energy from C$33.00 to C$32.00 in a report on Tuesday, October 15th. Royal Bank of Canada reduced their price target on Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, National Bankshares reduced their price target on Cenovus Energy from C$38.00 to C$31.00 in a research report on Friday, September 27th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$31.50.

Cenovus Energy Stock Up 1.7 %

CVE stock traded up C$0.36 during mid-day trading on Friday, reaching C$21.67. The company had a trading volume of 1,787,122 shares, compared to its average volume of 5,305,858. The company has a debt-to-equity ratio of 33.34, a current ratio of 1.66 and a quick ratio of 1.00. The stock has a 50 day simple moving average of C$22.74 and a two-hundred day simple moving average of C$24.66. The company has a market capitalization of C$40.31 billion, a price-to-earnings ratio of 8.64, a PEG ratio of 0.09 and a beta of 2.63. Cenovus Energy has a 52 week low of C$19.82 and a 52 week high of C$29.96.

Insider Activity at Cenovus Energy

In other news, Senior Officer Jeffery George Lawson purchased 4,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average cost of C$22.50 per share, with a total value of C$90,000.00. Also, Senior Officer Geoffrey Murray purchased 3,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were purchased at an average cost of C$22.54 per share, for a total transaction of C$72,112.00. Insiders have acquired a total of 7,700 shares of company stock worth $173,232 in the last 90 days. Corporate insiders own 32.03% 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.