Morgan Stanley Lowers Cenovus Energy (CVE) Price Target to C$12.00

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Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price decreased by research analysts at Morgan Stanley from C$15.00 to C$12.00 in a research report issued on Wednesday. Morgan Stanley’s price objective would suggest a potential upside of 16.96% from the company’s current price.

CVE has been the subject of several other reports. TD Securities boosted their target price on shares of Cenovus Energy from C$14.00 to C$15.00 and gave the company a “buy” rating in a research report on Thursday, November 1st. Barclays cut their target price on shares of Cenovus Energy from C$17.00 to C$16.00 in a research report on Thursday, January 10th. GMP Securities cut their target price on shares of Cenovus Energy from C$17.00 to C$14.00 in a research report on Thursday, December 13th. Canaccord Genuity cut their target price on shares of Cenovus Energy from C$13.50 to C$12.50 in a research report on Tuesday, November 20th. Finally, Raymond James boosted their target price on shares of Cenovus Energy from C$16.00 to C$17.00 in a research report on Friday, October 5th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of C$14.92.

Shares of TSE CVE opened at C$10.26 on Wednesday. The company has a debt-to-equity ratio of 52.75, a quick ratio of 0.80 and a current ratio of 1.26. Cenovus Energy has a 12-month low of C$8.74 and a 12-month high of C$14.84.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its earnings results on Wednesday, October 31st. The company reported C($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.22 by C($0.42). The company had revenue of C$6.14 billion for the quarter, compared to the consensus estimate of C$5.77 billion. On average, equities research analysts expect that Cenovus Energy will post 0.575473131431103 EPS for the current year.

In other news, insider Jonathan Michael Mckenzie purchased 25,000 shares of the stock in a transaction on Wednesday, November 21st. The shares were acquired at an average price of C$10.23 per share, with a total value of C$255,750.00. Also, Director Richard Joseph Marcogliese purchased 5,000 shares of the stock in a transaction on Monday, November 26th. The shares were purchased at an average cost of C$7.10 per share, for a total transaction of C$35,500.00. Insiders have acquired 42,121 shares of company stock worth $409,801 in the last ninety days.

About Cenovus Energy

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen and natural gas in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as projects in the early stages of development, such as Telephone Lake.

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Analyst Recommendations for Cenovus Energy (TSE:CVE)

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