Cenovus Energy (TSE:CVE) PT Raised to C$31.50 at Desjardins

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price boosted by analysts at Desjardins from C$29.50 to C$31.50 in a research note issued to investors on Tuesday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ target price would indicate a potential upside of 8.25% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Royal Bank of Canada increased their target price on shares of Cenovus Energy from C$28.00 to C$32.00 in a research note on Tuesday, April 9th. National Bankshares boosted their price objective on Cenovus Energy from C$29.00 to C$38.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. CIBC increased their target price on Cenovus Energy from C$31.00 to C$35.00 and gave the company an “outperform” rating in a research report on Monday. JPMorgan Chase & Co. cut their price target on shares of Cenovus Energy from C$35.00 to C$34.00 in a report on Thursday, January 11th. Finally, Scotiabank cut their target price on shares of Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating for the company in a research note on Tuesday, January 16th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cenovus Energy currently has a consensus rating of “Moderate Buy” and an average target price of C$33.35.

Cenovus Energy Stock Performance

Shares of TSE CVE opened at C$29.10 on Tuesday. The company has a 50 day simple moving average of C$26.17 and a two-hundred day simple moving average of C$24.46. The stock has a market cap of C$54.42 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 0.09 and a beta of 2.78. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 34.64. Cenovus Energy has a 12 month low of C$19.82 and a 12 month high of C$29.96.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its quarterly earnings results on Thursday, February 15th. The company reported C$0.39 EPS for the quarter, beating the consensus estimate of C$0.33 by C$0.06. The company had revenue of C$13.13 billion for the quarter, compared to analyst estimates of C$13.06 billion. Cenovus Energy had a net margin of 7.87% and a return on equity of 14.60%. During the same period in the prior year, the company earned $0.39 earnings per share. As a group, analysts predict that Cenovus Energy will post 2.6887232 earnings per share for the current year.

Insider Transactions at Cenovus Energy

In related news, Senior Officer Jonathan Michael Mckenzie purchased 50,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was purchased at an average price of C$23.49 per share, with a total value of C$1,174,500.00. In other news, Senior Officer Jonathan Michael Mckenzie acquired 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was purchased at an average price of C$23.49 per share, with a total value of C$1,174,500.00. Also, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of C$29.21, for a total transaction of C$525,835.80. Insiders have sold a total of 87,000 shares of company stock worth $2,414,507 in the last ninety days. Insiders own 31.50% of the company’s stock.

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.