Royal Bank Of Canada Increases Cenovus Energy (TSE:CVE) Price Target to C$32.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target hoisted by research analysts at Royal Bank Of Canada from C$31.00 to C$32.00 in a research report issued on Friday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 3.63% from the stock’s previous close.

A number of other equities analysts have also issued reports on the company. TD Securities upped their target price on Cenovus Energy from C$28.00 to C$35.00 and gave the company a “buy” rating in a research report on Friday. Scotiabank raised their price objective on shares of Cenovus Energy from C$29.00 to C$30.00 and gave the stock a “hold” rating in a report on Tuesday, January 20th. Morgan Stanley cut their target price on shares of Cenovus Energy from C$31.00 to C$29.00 in a research note on Friday, January 23rd. Desjardins increased their price target on shares of Cenovus Energy from C$33.00 to C$33.50 and gave the stock a “buy” rating in a research report on Friday, December 12th. Finally, National Bank Financial lifted their price target on 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 research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Cenovus Energy has a consensus rating of “Buy” and an average target price of C$31.50.

Cenovus Energy Trading Down 2.5%

TSE:CVE opened at C$30.88 on Friday. The stock has a market cap of C$58.25 billion, a price-to-earnings 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 company has a debt-to-equity ratio of 33.59, a quick ratio of 1.00 and a current ratio of 1.59. The business’s 50-day simple moving average is C$25.59 and its 200 day simple moving average is C$24.33.

Insider Activity at Cenovus Energy

In other Cenovus Energy news, Director Michael John Crothers acquired 2,000 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was acquired at an average price of C$24.23 per share, with a total value of C$48,460.00. Following the transaction, the director directly owned 8,000 shares in the company, valued at approximately C$193,840. This represents a 33.33% increase in their ownership of the stock. 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.