CIBC Increases Cenovus Energy (TSE:CVE) Price Target to C$25.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price increased by equities researchers at CIBC from C$24.00 to C$25.00 in a research note issued on Thursday, BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 34.12% from the company’s current price.

A number of other analysts have also recently commented on CVE. ATB Capital upped their price objective on shares of Cenovus Energy from C$19.50 to C$22.00 in a research report on Tuesday, November 23rd. Raymond James restated an “outperform” rating and issued a C$19.00 price objective on shares of Cenovus Energy in a research report on Friday, December 17th. Royal Bank of Canada set a C$20.00 price objective on shares of Cenovus Energy and gave the company an “outperform” rating in a research report on Sunday, December 26th. Citigroup upped their price objective on shares of Cenovus Energy from C$14.00 to C$17.00 in a research report on Wednesday, October 20th. Finally, National Bank Financial upped their price objective on shares of Cenovus Energy from C$22.00 to C$25.00 and gave the company an “outperform” rating in a research report on Thursday, January 6th. Fifteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Cenovus Energy presently has an average rating of “Buy” and a consensus target price of C$19.40.

Shares of Cenovus Energy stock opened at C$18.64 on Thursday. The firm has a fifty day moving average of C$15.93 and a two-hundred day moving average of C$13.17. The stock has a market capitalization of C$37.61 billion and a price-to-earnings ratio of 42.85. Cenovus Energy has a 52 week low of C$7.12 and a 52 week high of C$18.76. The company has a debt-to-equity ratio of 66.06, a quick ratio of 0.87 and a current ratio of 1.34.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last issued its earnings results on Wednesday, November 3rd. The company reported C$0.27 EPS for the quarter, missing the consensus estimate of C$0.44 by C($0.17). The business had revenue of C$13.43 billion for the quarter. As a group, research analysts forecast that Cenovus Energy will post 2.23 EPS for the current fiscal year.

In other news, Senior Officer Karamjit Singh Sandhar bought 10,000 shares of the company’s stock in a transaction dated Wednesday, December 29th. The shares were bought at an average cost of C$15.65 per share, with a total value of C$156,500.00. Following the acquisition, the insider now owns 38,562 shares in the company, valued at C$603,495.30.

About Cenovus Energy

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada, the United States and the Asia Pacific region. The company operates through Oil Sands, Conventional, and Refining and Marketing segments. The Oil Sands segment develops and produces bitumen in northeast Alberta.

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Analyst Recommendations for Cenovus Energy (TSE:CVE)

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