Cenovus Energy (TSE:CVE) Given New C$25.00 Price Target at BMO Capital Markets

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective lowered by research analysts at BMO Capital Markets from C$28.00 to C$25.00 in a research note issued on Friday,BayStreet.CA reports. BMO Capital Markets’ price target indicates a potential upside of 15.37% from the stock’s previous close.

A number of other research firms have also recently commented on CVE. National Bankshares cut their price objective on Cenovus Energy from C$38.00 to C$31.00 in a research report on Friday, September 27th. Raymond James boosted their price target on Cenovus Energy from C$32.00 to C$33.00 in a research report on Friday. Royal Bank of Canada dropped their price target on Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Jefferies Financial Group dropped their price target on Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Finally, TD Securities dropped their price target on Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating for the company in a research report on Friday. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Cenovus Energy currently has an average rating of “Buy” and a consensus target price of C$31.50.

Cenovus Energy Price Performance

Shares of Cenovus Energy stock traded up C$0.36 on Friday, reaching C$21.67. The company’s stock had a trading volume of 1,787,122 shares, compared to its average volume of 5,305,858. The company has a market capitalization of C$40.31 billion, a P/E ratio of 8.64, a PEG ratio of 0.09 and a beta of 2.63. Cenovus Energy has a 52-week low of C$19.82 and a 52-week high of C$29.96. The stock has a 50-day moving average price of C$22.74 and a 200-day moving average price of C$24.66. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 33.34.

Insider Activity at Cenovus Energy

In related news, Senior Officer Geoffrey Murray purchased 3,200 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were bought at an average price of C$22.54 per share, for a total transaction of C$72,112.00. Also, Senior Officer Jeffery George Lawson purchased 4,000 shares of the business’s stock in a transaction on Monday, September 30th. The shares were bought at an average price of C$22.50 per share, for a total transaction of C$90,000.00. In the last 90 days, insiders have bought 7,700 shares of company stock worth $173,232. 32.03% of the stock is currently owned by company insiders.

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.