Cenovus Energy (TSE:CVE) Rating Lowered to “Neutral” at Gerdes Energy Research

Cenovus Energy (TSE:CVE) (NYSE:CVE) was downgraded by stock analysts at Gerdes Energy Research from a “buy” rating to a “neutral” rating in a report released on Friday,BayStreet.CA reports.

Several other research analysts have also commented on CVE. 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 report on Tuesday, January 20th. Desjardins upped their price objective on shares of Cenovus Energy from C$33.00 to C$36.00 and gave the company a “buy” rating in a report on Friday, February 20th. Royal Bank Of Canada raised their price objective on shares of Cenovus Energy from C$31.00 to C$32.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. TD Securities lifted their target price on shares of Cenovus Energy from C$28.00 to C$35.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Finally, Morgan Stanley decreased their target price on shares of Cenovus Energy from C$31.00 to C$29.00 in a report on Friday, January 23rd. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$32.67.

Cenovus Energy Price Performance

CVE stock opened at C$34.48 on Friday. Cenovus Energy has a 1 year low of C$14.48 and a 1 year high of C$34.84. The company has a debt-to-equity ratio of 53.80, a current ratio of 1.57 and a quick ratio of 1.00. The firm has a market capitalization of C$64.80 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 0.09 and a beta of 0.63. The business has a 50 day simple moving average of C$29.00 and a 200-day simple moving average of C$25.73.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings data on Thursday, February 19th. The company reported C$0.50 EPS for the quarter. The firm had revenue of C$10.88 billion for the quarter. Cenovus Energy had a return on equity of 13.16% and a net margin of 7.91%. Equities research analysts anticipate that Cenovus Energy will post 2.2619279 earnings per share for the current fiscal year.

Cenovus Energy Company Profile

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.