Cenovus Energy (NYSE:CVE) Price Target Cut to $25.00 by Analysts at Royal Bank of Canada

Cenovus Energy (NYSE:CVE) (TSE:CVE) had its price objective reduced by equities researchers at Royal Bank of Canada from $26.00 to $25.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the oil and gas company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 70.59% from the stock’s current price.

Several other equities research analysts also recently weighed in on CVE. StockNews.com downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. BMO Capital Markets reduced their price objective on shares of Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Finally, National Bank Financial cut shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Cenovus Energy presently has an average rating of “Moderate Buy” and a consensus price target of $29.25.

Cenovus Energy Price Performance

NYSE:CVE traded down $0.64 during mid-day trading on Friday, reaching $14.66. The stock had a trading volume of 6,182,486 shares, compared to its average volume of 10,552,401. The stock has a 50-day simple moving average of $15.00 and a two-hundred day simple moving average of $16.32. The stock has a market capitalization of $26.73 billion, a PE ratio of 10.11 and a beta of 1.99. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 0.95. Cenovus Energy has a 12 month low of $13.76 and a 12 month high of $21.90.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.27). The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $11.08 billion. Cenovus Energy had a return on equity of 12.88% and a net margin of 6.72%. On average, equities analysts anticipate that Cenovus Energy will post 1.36 earnings per share for the current year.

Institutional Trading of Cenovus Energy

Institutional investors have recently modified their holdings of the business. Truvestments Capital LLC purchased a new stake in shares of Cenovus Energy during the 3rd quarter valued at approximately $25,000. Farther Finance Advisors LLC grew its holdings in shares of Cenovus Energy by 104.9% during the 4th quarter. Farther Finance Advisors LLC now owns 1,662 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 851 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Cenovus Energy by 640.3% during the 3rd quarter. Blue Trust Inc. now owns 3,065 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 2,651 shares during the last quarter. Sierra Ocean LLC purchased a new stake in Cenovus Energy during the 4th quarter valued at $67,000. Finally, Natixis purchased a new stake in Cenovus Energy during the 4th quarter valued at $98,000. 51.19% of the stock is currently owned by hedge funds and other institutional investors.

About Cenovus Energy

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.