Cenovus Energy (TSE:CVE) Price Target Cut to C$31.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target dropped by equities research analysts at TD Securities from C$33.00 to C$31.00 in a note issued to investors on Tuesday, BayStreet.CA reports. The firm presently has a “hold” rating on the stock. TD Securities’ target price points to a potential upside of 33.33% from the company’s current price.

Several other research firms have also weighed in on CVE. National Bankshares reduced their price objective on Cenovus Energy from C$38.00 to C$31.00 in a research note on Friday, September 27th. Scotiabank decreased their price target on shares of Cenovus Energy from C$35.00 to C$34.00 in a report on Friday, July 12th. Desjardins upped their price objective on shares of Cenovus Energy from C$31.50 to C$33.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group cut their target price on shares of Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Finally, Royal Bank of Canada lowered their price target on shares of Cenovus Energy from C$33.00 to C$29.00 in a report on Tuesday, September 17th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$32.92.

Cenovus Energy Stock Performance

Shares of Cenovus Energy stock opened at C$23.25 on Tuesday. The company has a current ratio of 1.66, a quick ratio of 1.00 and a debt-to-equity ratio of 33.34. The company has a market cap of C$43.25 billion, a PE ratio of 9.23, a price-to-earnings-growth ratio of 0.09 and a beta of 2.67. The company has a 50 day moving average of C$24.66 and a 200-day moving average of C$26.46. Cenovus Energy has a 1-year low of C$19.82 and a 1-year high of C$29.96.

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

Insider Buying and Selling at Cenovus Energy

In other news, Senior Officer Keith Chiasson bought 25,000 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was acquired at an average price of C$23.40 per share, with a total value of C$585,000.00. In other news, Senior Officer Keith Chiasson purchased 25,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were acquired at an average price of C$23.40 per share, with a total value of C$585,000.00. Also, Senior Officer Jeffery George Lawson purchased 4,000 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were acquired at an average price of C$22.50 per share, with a total value of C$90,000.00. In the last quarter, insiders have purchased 152,200 shares of company stock worth $3,459,477. Insiders own 32.03% of the company’s stock.

Cenovus Energy Company Profile

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.