BMO Capital Markets Has Lowered Expectations for Cenovus Energy (TSE:CVE) Stock Price

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price dropped by analysts at BMO Capital Markets from C$38.00 to C$35.00 in a research note issued on Friday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ target price would indicate a potential upside of 13.34% from the stock’s previous close.

Several other equities analysts have also recently weighed in on CVE. Desjardins raised their price target on shares of Cenovus Energy from C$33.00 to C$36.00 and gave the stock a “buy” rating in a research note on Friday. TD Securities increased 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 report on Friday. The Goldman Sachs Group raised shares of Cenovus Energy to a “strong-buy” rating in a research report on Friday, January 2nd. Royal Bank Of Canada boosted their price target 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. Finally, National Bank Financial increased their price objective on shares of Cenovus Energy from C$29.00 to C$34.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$31.50.

Cenovus Energy Stock Down 2.5%

Shares of Cenovus Energy stock opened at C$30.88 on Friday. The firm has a market cap of C$58.25 billion, a PE ratio of 17.85, a P/E/G ratio of 0.09 and a beta of 0.65. The business’s 50 day simple moving average is C$25.59 and its 200 day simple moving average is 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. Cenovus Energy has a 52-week low of C$14.48 and a 52-week high of C$32.04.

Insider Buying and Selling

In other news, Director Michael John Crothers purchased 2,000 shares of the business’s stock in a transaction on Monday, December 15th. The stock was purchased at an average price of C$24.23 per share, for a total transaction of C$48,460.00. Following the completion of the purchase, the director directly owned 8,000 shares in the company, valued at C$193,840. The trade was a 33.33% increase in their position. 32.03% of the stock is currently owned by corporate insiders.

Key Cenovus Energy News

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

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.