Cenovus Energy (TSE:CVE) PT Raised to C$35.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective lifted by investment analysts at TD Securities from C$34.00 to C$35.00 in a note issued to investors on Friday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ price objective would indicate a potential upside of 33.89% from the company’s current price.

Several other brokerages have also recently issued reports on CVE. Desjardins lifted their target price on Cenovus Energy from C$31.00 to C$33.50 and gave the company a “buy” rating in a research report on Monday, September 18th. UBS Group lifted their target price on Cenovus Energy from C$30.00 to C$31.00 in a research report on Wednesday, October 11th. BMO Capital Markets lifted their target price on Cenovus Energy from C$27.00 to C$33.00 in a research report on Monday, October 16th. Royal Bank of Canada lifted their target price on Cenovus Energy from C$30.00 to C$32.00 and gave the company an “outperform” rating in a research report on Friday. Finally, National Bank Financial lifted their target price on Cenovus Energy from C$31.00 to C$37.00 in a research report on Thursday, October 12th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$33.03.

Cenovus Energy Stock Down 2.3 %

Shares of TSE:CVE opened at C$26.14 on Friday. The stock has a market cap of C$49.67 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 0.09 and a beta of 2.83. The company has a quick ratio of 1.00, a current ratio of 1.49 and a debt-to-equity ratio of 34.59. Cenovus Energy has a 12-month low of C$20.31 and a 12-month high of C$29.43. The business’s 50 day moving average is C$27.43 and its 200 day moving average is C$24.68.

About Cenovus Energy

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil and natural gas in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Manufacturing, and U.S. Manufacturing segments. The Oil Sands segment develops and produces bitumen and heavy oil in northern Alberta and Saskatchewan.