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

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price decreased by stock analysts at National Bankshares from C$38.00 to C$31.00 in a note issued to investors on Friday, BayStreet.CA reports. National Bankshares’ target price indicates a potential upside of 37.84% from the company’s current price.

Several other equities research analysts have also weighed in on the company. Scotiabank dropped their target price on Cenovus Energy from C$35.00 to C$34.00 in a research report on Friday, July 12th. Jefferies Financial Group dropped their price objective on shares of Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Desjardins lifted their price objective on shares of Cenovus Energy from C$31.50 to C$33.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, Royal Bank of Canada decreased their target price on shares of Cenovus Energy from C$33.00 to C$29.00 in a research report on Tuesday, September 17th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$33.00.

Cenovus Energy Price Performance

Shares of TSE:CVE opened at C$22.49 on Friday. The company has a market cap of C$41.83 billion, a PE ratio of 8.96, a P/E/G ratio of 0.09 and a beta of 2.67. Cenovus Energy has a fifty-two week low of C$19.82 and a fifty-two week high of C$29.96. The firm has a 50-day simple moving average of C$24.84 and a 200 day simple moving average of C$26.46. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 33.34.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its earnings results on Thursday, August 1st. The company reported C$0.53 EPS for the quarter, missing the consensus estimate of C$0.72 by C($0.19). The company had revenue of C$14.89 billion for the quarter, compared to the consensus estimate of C$13.44 billion. Cenovus Energy had a net margin of 8.54% and a return on equity of 16.69%. On average, sell-side analysts anticipate that Cenovus Energy will post 2.2599805 EPS for the current year.

Insider Activity

In other news, Senior Officer Jeffery George Lawson bought 3,500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average price of C$27.21 per share, with a total value of C$95,235.00. In other Cenovus Energy news, Senior Officer Geoffrey Murray acquired 3,200 shares of the stock in a transaction dated Tuesday, September 17th. The shares were bought at an average price of C$22.54 per share, with a total value of C$72,112.00. Also, Senior Officer Jeffery George Lawson bought 3,500 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average cost of C$27.21 per share, with a total value of C$95,235.00. Insiders purchased 148,200 shares of company stock worth $3,369,477 over the last three months. Corporate insiders own 31.71% of the company’s stock.

About Cenovus Energy

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.