Cenovus Energy (TSE:CVE) PT Raised to C$35.00 at CIBC

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price hoisted by stock analysts at CIBC from C$31.00 to C$35.00 in a research report issued on Monday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. CIBC’s price objective would suggest a potential upside of 20.52% from the stock’s current price.

A number of other research analysts have also commented on CVE. Jefferies Financial Group increased their price objective on Cenovus Energy from C$28.00 to C$36.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Scotiabank cut their target price on Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 16th. BMO Capital Markets raised their target price on Cenovus Energy from C$29.00 to C$33.00 in a report on Thursday, March 28th. JPMorgan Chase & Co. lowered their price target on Cenovus Energy from C$35.00 to C$34.00 in a research note on Thursday, January 11th. Finally, National Bankshares lifted their price target on shares of Cenovus Energy from C$29.00 to C$38.00 and gave the stock an “outperform” rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$33.19.

Cenovus Energy Price Performance

Shares of TSE:CVE traded up C$0.35 during trading on Monday, reaching C$29.04. The stock had a trading volume of 2,135,850 shares, compared to its average volume of 4,678,461. The stock has a market capitalization of C$54.30 billion, a PE ratio of 13.69, a P/E/G ratio of 0.09 and a beta of 2.78. Cenovus Energy has a 52 week low of C$19.82 and a 52 week high of C$29.96. The business’s 50-day moving average price is C$25.75 and its 200 day moving average price is C$24.39. The company has a debt-to-equity ratio of 34.64, a current ratio of 1.56 and a quick ratio of 1.00.

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

Insider Buying and Selling

In other Cenovus Energy news, Senior Officer Jonathan Michael Mckenzie purchased 50,000 shares of Cenovus Energy stock in a transaction that occurred on Friday, February 16th. The stock was acquired at an average price of C$23.49 per share, for a total transaction of C$1,174,500.00. In other news, Senior Officer Andrew Dahlin sold 20,000 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of C$27.08, for a total transaction of C$541,682.00. Also, Senior Officer Jonathan Michael Mckenzie bought 50,000 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were purchased at an average cost of C$23.49 per share, with a total value of C$1,174,500.00. Over the last three months, insiders have sold 87,000 shares of company stock worth $2,414,507. Insiders own 31.50% 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.