Cenovus Energy (TSE:CVE) Price Target Increased to C$32.00 by Analysts at TD Securities

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price lifted by investment analysts at TD Securities from C$30.00 to C$32.00 in a research report issued on Thursday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ price target would suggest a potential upside of 14.16% from the company’s previous close.

A number of other equities analysts also recently issued reports on CVE. National Bankshares raised their price objective on Cenovus Energy from C$29.00 to C$38.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. CIBC raised their price target on shares of Cenovus Energy from C$31.00 to C$35.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. Desjardins upped their price objective on shares of Cenovus Energy from C$29.50 to C$31.50 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. 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. Finally, JPMorgan Chase & Co. dropped their target price on shares of Cenovus Energy from C$35.00 to C$34.00 in a report on Thursday, January 11th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cenovus Energy presently has a consensus rating of “Moderate Buy” and an average price target of C$33.19.

Cenovus Energy Price Performance

CVE stock opened at C$28.03 on Thursday. The company has a market capitalization of C$52.42 billion, a P/E ratio of 13.22, a PEG ratio of 0.09 and a beta of 2.78. The company has a fifty day moving average price of C$26.88 and a 200-day moving average price of C$24.52. 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 52-week low of C$19.82 and a 52-week high of C$29.96.

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

Insider Buying and Selling

In other Cenovus Energy news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of C$29.21, for a total value of C$525,835.80. In other Cenovus Energy news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the company’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 Andrew Dahlin sold 25,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of C$25.99, for a total transaction of C$649,657.50. In the last three months, insiders have sold 87,000 shares of company stock valued at $2,414,507. 31.50% of the stock is owned by company 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.