Cenovus Energy (TSE:CVE) Price Target Increased to C$38.00 by Analysts at National Bankshares

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective increased by investment analysts at National Bankshares from C$29.00 to C$38.00 in a research report issued to clients and investors on Friday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bankshares’ price objective indicates a potential upside of 32.45% from the stock’s current price.

Several other analysts also recently weighed in on CVE. Jefferies Financial Group lifted their price target on shares of Cenovus Energy from C$28.00 to C$36.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Royal Bank of Canada lifted their price objective on shares of Cenovus Energy from C$28.00 to C$32.00 in a report on Tuesday, April 9th. CIBC lifted their price objective on shares of Cenovus Energy from C$30.00 to C$31.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. JPMorgan Chase & Co. cut their price objective on shares of Cenovus Energy from C$35.00 to C$34.00 in a report on Thursday, January 11th. Finally, Scotiabank cut their price objective on shares of Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating on the stock in a report on Tuesday, January 16th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$32.88.

Cenovus Energy Stock Performance

Cenovus Energy stock opened at C$28.69 on Friday. The company has a 50 day moving average price of C$25.75 and a 200-day moving average price of C$24.41. The company has a debt-to-equity ratio of 34.64, a quick ratio of 1.00 and a current ratio of 1.56. Cenovus Energy has a fifty-two week low of C$19.82 and a fifty-two week high of C$29.96. The company has a market capitalization of C$53.65 billion, a PE ratio of 13.53, a P/E/G ratio of 0.09 and a beta of 2.78.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its quarterly earnings results on Thursday, February 15th. The company reported C$0.39 earnings per share for the quarter, beating the consensus estimate of C$0.33 by C$0.06. Cenovus Energy had a net margin of 7.87% and a return on equity of 14.60%. The firm had revenue of C$13.13 billion during the quarter, compared to the consensus estimate of C$13.06 billion. During the same quarter in the previous year, the firm posted $0.39 earnings per share. As a group, equities analysts forecast that Cenovus Energy will post 2.6887232 earnings per share for the current year.

Insiders Place Their Bets

In other Cenovus Energy news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of Cenovus Energy 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. In other 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 transaction of C$525,835.80. Also, Senior Officer Jonathan Michael Mckenzie acquired 50,000 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were bought at an average cost of C$23.49 per share, for a total transaction of C$1,174,500.00. Over the last three months, insiders have sold 87,000 shares of company stock valued at $2,414,507. 31.50% of the stock is currently owned by insiders.

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.