BMO Capital Markets Issues Pessimistic Forecast for Cenovus Energy (TSE:CVE) Stock Price

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price lowered by research analysts at BMO Capital Markets from C$28.00 to C$25.00 in a research note issued to investors on Friday,BayStreet.CA reports. BMO Capital Markets’ target price suggests a potential upside of 15.15% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Raymond James raised their price target on shares of Cenovus Energy from C$32.00 to C$33.00 in a report on Friday. TD Securities cut their target price on Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating on the stock in a research note on Friday. Royal Bank of Canada reduced their price target on Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. National Bankshares dropped their price objective on Cenovus Energy from C$38.00 to C$31.00 in a report on Friday, September 27th. Finally, Jefferies Financial Group reduced their target price on Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cenovus Energy has a consensus rating of “Buy” and an average price target of C$31.50.

Cenovus Energy Stock Performance

TSE:CVE opened at C$21.71 on Friday. The company has a debt-to-equity ratio of 33.34, a quick ratio of 1.00 and a current ratio of 1.66. Cenovus Energy has a fifty-two week low of C$19.82 and a fifty-two week high of C$29.96. The business has a 50 day moving average price of C$22.71 and a 200-day moving average price of C$24.60. The firm has a market cap of C$40.38 billion, a PE ratio of 8.65, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63.

Insider Activity at Cenovus Energy

In related news, Senior Officer Jeffery George Lawson bought 4,000 shares of the stock in a transaction dated Monday, September 30th. The shares were purchased at an average price of C$22.50 per share, for a total transaction of C$90,000.00. Also, Senior Officer Geoffrey Murray bought 3,200 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were acquired at an average price of C$22.54 per share, for a total transaction of C$72,112.00. In the last 90 days, insiders have acquired 12,300 shares of company stock valued at $273,236. 32.03% of the stock is owned by company 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.