Cenovus Energy (TSE:CVE) Stock Rating Upgraded by TD Securities

Cenovus Energy (TSE:CVE) (NYSE:CVE) was upgraded by investment analysts at TD Securities from a “hold” rating to a “strong-buy” rating in a report released on Thursday, Zacks.com reports.

Other research analysts have also issued research reports about the company. Royal Bank of Canada reduced their price objective on Cenovus Energy from C$33.00 to C$29.00 in a research report on Tuesday, September 17th. Scotiabank reduced their target price on Cenovus Energy from C$35.00 to C$34.00 in a report on Friday, July 12th. Desjardins lifted their target price on Cenovus Energy from C$31.50 to C$33.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. National Bankshares reduced their target price on Cenovus Energy from C$38.00 to C$31.00 in a report on Friday, September 27th. Finally, Jefferies Financial Group reduced their target price on Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating for the company in a report on Monday, September 16th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$32.77.

Cenovus Energy Stock Up 2.6 %

CVE stock opened at C$24.80 on Thursday. Cenovus Energy has a twelve month low of C$19.82 and a twelve month high of C$29.96. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 33.34. The firm has a market cap of C$46.13 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 0.09 and a beta of 2.67. The business has a 50 day moving average of C$24.48 and a 200 day moving average of C$26.42.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its quarterly earnings data on Thursday, August 1st. The company reported C$0.53 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.72 by C($0.19). Cenovus Energy had a net margin of 8.54% and a return on equity of 16.69%. The company had revenue of C$14.89 billion for the quarter, compared to the consensus estimate of C$13.44 billion. On average, research analysts forecast that Cenovus Energy will post 2.0660125 EPS for the current fiscal year.

Insider Transactions at Cenovus Energy

In other news, Senior Officer Jeffery George Lawson purchased 4,000 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were purchased at an average cost of C$22.50 per share, for a total transaction of C$90,000.00. In related news, Senior Officer Jeffery George Lawson bought 4,000 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were bought at an average cost of C$22.50 per share, for a total transaction of C$90,000.00. Also, Senior Officer Keith Chiasson bought 25,000 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of C$23.40 per share, for a total transaction of C$585,000.00. Insiders have bought a total of 152,200 shares of company stock worth $3,459,477 in the last ninety days. Insiders own 32.03% 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.