Royal Bank of Canada Boosts Cenovus Energy (TSE:CVE) Price Target to C$33.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target hoisted by investment analysts at Royal Bank of Canada from C$32.00 to C$33.00 in a research note issued to investors on Thursday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 17.73% from the company’s current price.

Several other research analysts also recently commented on CVE. JPMorgan Chase & Co. dropped their price objective on shares of Cenovus Energy from C$35.00 to C$34.00 in a report on Thursday, January 11th. CIBC increased their target price on Cenovus Energy from C$31.00 to C$35.00 and gave the company an “outperform” rating in a research report on Monday, April 22nd. Desjardins upped their price target 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. Scotiabank dropped their price objective on shares of Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating for the company in a research note on Tuesday, January 16th. Finally, National Bankshares increased their price target on shares of Cenovus Energy from C$29.00 to C$38.00 and gave the company an “outperform” rating in a report on Friday, April 19th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$33.19.

Cenovus Energy Stock Performance

TSE:CVE opened at C$28.03 on Thursday. The stock has a 50-day moving average price of C$26.88 and a 200 day moving average price of C$24.52. The stock has a market capitalization of C$52.42 billion, a P/E ratio of 13.22, a P/E/G ratio of 0.09 and a beta of 2.78. Cenovus Energy has a 12-month low of C$19.82 and a 12-month high of C$29.96. 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 (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings data on Thursday, February 15th. The company reported C$0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of C$13.13 billion during the quarter, compared to analyst estimates of C$13.06 billion. During the same period last year, the firm posted $0.39 EPS. Equities research analysts forecast that Cenovus Energy will post 2.6887232 EPS for the current fiscal year.

Insider Transactions at Cenovus Energy

In other news, Senior Officer Andrew Dahlin sold 25,000 shares of the business’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 related news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the company’s stock in a transaction dated 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 firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of C$25.99, for a total transaction of C$649,657.50. Over the last three months, insiders have sold 87,000 shares of company stock worth $2,414,507. 31.50% of the stock is currently 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.