Cenovus Energy (TSE:CVE) PT Raised to C$33.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price hoisted by Royal Bank of Canada from C$32.00 to C$33.00 in a note issued to investors on Thursday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 16.73% from the company’s previous close.

Other analysts also recently issued reports about the stock. TD Securities increased their price objective on shares of Cenovus Energy from C$30.00 to C$32.00 and gave the company a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. cut their price objective on shares of Cenovus Energy from C$35.00 to C$34.00 in a research report on Thursday, January 11th. Jefferies Financial Group increased their price objective on shares of Cenovus Energy from C$28.00 to C$36.00 and gave the company a “buy” rating in a research report on Friday, April 12th. National Bankshares increased their price objective on shares of Cenovus Energy from C$29.00 to C$38.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. Finally, BMO Capital Markets increased their price objective on shares of Cenovus Energy from C$29.00 to C$33.00 in a research report on Thursday, March 28th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$33.19.

Cenovus Energy Trading Up 1.0 %

TSE CVE traded up C$0.28 during trading on Thursday, hitting C$28.27. The company had a trading volume of 2,321,497 shares, compared to its average volume of 4,610,159. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 34.64. Cenovus Energy has a one year low of C$19.82 and a one year high of C$29.96. The company has a market cap of C$52.86 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 0.09 and a beta of 2.78. The company’s fifty day moving average is C$26.71 and its 200-day moving average is C$24.50.

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, topping analysts’ consensus estimates of C$0.33 by C$0.06. The firm had revenue of C$13.13 billion for the quarter, compared to the consensus estimate of C$13.06 billion. Cenovus Energy had a net margin of 7.87% and a return on equity of 14.60%. During the same period in the prior year, the firm earned $0.39 EPS. On average, sell-side analysts predict that Cenovus Energy will post 2.6887232 earnings per share for the current year.

Insider Activity

In other news, Senior Officer Andrew Dahlin sold 25,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of C$25.99, for a total value of C$649,657.50. In related news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the business’s stock in a transaction 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. Also, Senior Officer Andrew Dahlin sold 25,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of C$25.99, for a total transaction of C$649,657.50. Insiders have sold a total of 87,000 shares of company stock valued at $2,414,507 in the last 90 days. 31.50% of the stock is currently owned by insiders.

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.