Cenovus Energy (NYSE:CVE) PT Raised to C$32.00

Cenovus Energy (NYSE:CVEGet Rating) (TSE:CVE) had its price objective lifted by equities research analysts at Credit Suisse Group from C$28.00 to C$32.00 in a research note issued to investors on Monday, The Fly reports.

A number of other equities analysts have also recently commented on CVE. National Bank Financial boosted their price target on shares of Cenovus Energy from C$28.00 to C$35.00 in a research note on Thursday, April 14th. StockNews.com raised shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research note on Friday, April 29th. CIBC upped their price objective on shares of Cenovus Energy from C$28.00 to C$30.00 in a research note on Thursday, April 14th. Royal Bank of Canada upped their price objective on shares of Cenovus Energy from C$27.00 to C$28.00 in a research note on Thursday, April 28th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Cenovus Energy in a research note on Thursday, March 31st. One equities research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $22.73.

NYSE:CVE traded down $1.74 during mid-day trading on Monday, hitting $18.66. 1,768,696 shares of the stock traded hands, compared to its average volume of 12,952,369. The company has a quick ratio of 1.09, a current ratio of 1.60 and a debt-to-equity ratio of 0.49. Cenovus Energy has a 12-month low of $7.20 and a 12-month high of $20.47. The company has a market cap of $36.98 billion, a PE ratio of 24.71 and a beta of 2.49. The business’s 50-day moving average price is $16.93 and its 200 day moving average price is $14.61.

Cenovus Energy (NYSE:CVEGet Rating) (TSE:CVE) last released its quarterly earnings results on Tuesday, February 8th. The oil and gas company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. Cenovus Energy had a net margin of 3.56% and a return on equity of 14.73%. The business had revenue of $16.37 billion during the quarter, compared to analysts’ expectations of $13.99 billion. During the same quarter in the previous year, the company earned ($0.35) EPS. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. Analysts anticipate that Cenovus Energy will post 2.62 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of the stock. Swiss National Bank raised its holdings in Cenovus Energy by 12.9% during the 1st quarter. Swiss National Bank now owns 5,825,835 shares of the oil and gas company’s stock valued at $97,016,000 after buying an additional 666,000 shares during the last quarter. Duality Advisers LP bought a new stake in Cenovus Energy during the 1st quarter valued at $3,640,000. SeaBridge Investment Advisors LLC raised its holdings in Cenovus Energy by 20.0% in the 1st quarter. SeaBridge Investment Advisors LLC now owns 12,000 shares of the oil and gas company’s stock worth $200,000 after purchasing an additional 2,000 shares in the last quarter. Qube Research & Technologies Ltd raised its holdings in Cenovus Energy by 31.5% in the 1st quarter. Qube Research & Technologies Ltd now owns 497,601 shares of the oil and gas company’s stock worth $8,300,000 after purchasing an additional 119,303 shares in the last quarter. Finally, BDO Wealth Advisors LLC raised its holdings in Cenovus Energy by 250.0% in the 1st quarter. BDO Wealth Advisors LLC now owns 3,500 shares of the oil and gas company’s stock worth $58,000 after purchasing an additional 2,500 shares in the last quarter. Institutional investors own 48.02% of the company’s stock.

Cenovus Energy Company Profile (Get Rating)

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada, the United States, and the Asia Pacific region. The company operates through Oil Sands, Conventional, Offshore, Canadian Manufacturing, U.S. Manufacturing, and Retail segments.

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