TD Securities Boosts Cenovus Energy (TSE:CVE) Price Target to C$35.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price hoisted by analysts at TD Securities from C$28.00 to C$35.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ target price would suggest a potential upside of 13.34% from the company’s current price.

A number of other analysts also recently commented on CVE. The Goldman Sachs Group raised shares of Cenovus Energy to a “strong-buy” rating in a report on Friday, January 2nd. Desjardins lifted their price target on shares of Cenovus Energy from C$33.00 to C$33.50 and gave the company a “buy” rating in a research report on Friday, December 12th. JPMorgan Chase & Co. lowered Cenovus Energy from a “buy” rating to a “neutral” rating and set a C$25.00 price target on the stock. in a research note on Tuesday, January 20th. National Bank Financial raised their price objective on Cenovus Energy from C$29.00 to C$34.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Finally, Royal Bank Of Canada reduced their price objective on Cenovus Energy from C$32.00 to C$29.00 and set an “outperform” rating for the company in a report on Tuesday, January 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$31.50.

Cenovus Energy Price Performance

Cenovus Energy stock opened at C$30.88 on Friday. The company has a market cap of C$58.25 billion, a P/E ratio of 17.85, a price-to-earnings-growth ratio of 0.09 and a beta of 0.65. Cenovus Energy has a one year low of C$14.48 and a one year high of C$32.04. The business has a fifty day moving average of C$25.59 and a two-hundred day moving average of C$24.33. The company has a debt-to-equity ratio of 33.59, a quick ratio of 1.00 and a current ratio of 1.59.

Insider Buying and Selling

In related news, Director Michael John Crothers purchased 2,000 shares of the company’s stock in a transaction on Monday, December 15th. The stock was bought at an average price of C$24.23 per share, with a total value of C$48,460.00. Following the completion of the transaction, the director owned 8,000 shares of the company’s stock, valued at approximately C$193,840. This represents a 33.33% increase in their position. Company insiders own 32.03% of the company’s stock.

Key Stories Impacting Cenovus Energy

Here are the key news stories impacting Cenovus Energy this week:

• Positive Sentiment: Q4 results showed record production and an earnings beat, reinforcing the company’s operational story after the MEG acquisition — a clear fundamental positive for future cash flow and shareholder returns. Cenovus reports production records, focuses on boosting operations after acquiring MEG
• Positive Sentiment: Multiple brokerages raised price targets and ratings today (TD to C$35, Desjardins to C$36, Scotiabank to C$34, Raymond James to C$33, RBC to C$32), signaling analyst confidence and implying mid‑single- to mid‑teens upside from current levels. BayStreet.CA analyst roundup
• Neutral Sentiment: Elevated trading volume and the stock sitting near its 1‑year high indicate active profit-taking and rotation; technicals (50/200-day averages both well below current price) support the view that recent strength may be consolidating rather than reversing.
• Negative Sentiment: BMO trimmed its price target (from C$38 to C$35) — still an outperform rating, but the cut is a relative negative among the otherwise upbeat analyst moves and could contribute to intraday selling pressure. BayStreet.CA analyst roundup

About Cenovus Energy

Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 472 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds 6.7 billion boe of proven and probable reserves.