Cenovus Energy (TSE:CVE) Stock Price Expected to Rise, Scotia Analyst Says
by Renee Jackson · The Cerbat GemCenovus Energy (TSE:CVE – Get Free Report) (NYSE:CVE) had its price target increased by equities research analysts at Scotia from C$38.00 to C$44.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has a “sector outperform” rating on the stock. Scotia’s price target would indicate a potential upside of 12.65% from the stock’s current price.
Several other equities research analysts have also recently weighed in on the company. National Bank Financial upped their target price on Cenovus Energy from C$30.00 to C$57.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 31st. Jefferies Financial Group boosted their price target on Cenovus Energy from C$30.00 to C$37.00 in a report on Monday, March 16th. UBS Group upped their price objective on Cenovus Energy from C$36.00 to C$41.00 in a research report on Thursday, April 9th. TD raised their price objective on Cenovus Energy from C$35.00 to C$45.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Finally, Gerdes Energy Research downgraded Cenovus Energy from a “buy” rating to a “neutral” rating in a research note on Friday, March 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Cenovus Energy has a consensus rating of “Buy” and an average price target of C$39.64.
View Our Latest Research Report on Cenovus Energy
Cenovus Energy Price Performance
Shares of TSE CVE traded down C$0.43 during mid-day trading on Thursday, reaching C$39.06. The company had a trading volume of 5,248,804 shares, compared to its average volume of 9,302,987. The firm has a market cap of C$73.42 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 0.09 and a beta of 0.23. The business’s 50-day simple moving average is C$34.63 and its 200 day simple moving average is C$28.51. Cenovus Energy has a one year low of C$16.61 and a one year high of C$42.01. The company has a debt-to-equity ratio of 53.80, a quick ratio of 1.00 and a current ratio of 1.57.
Cenovus Energy (TSE:CVE – Get Free Report) (NYSE:CVE) last released its earnings results on Wednesday, May 6th. The company reported C$0.84 EPS for the quarter. The firm had revenue of C$12.36 billion for the quarter. Cenovus Energy had a net margin of 7.91% and a return on equity of 13.16%. On average, research analysts predict that Cenovus Energy will post 2.2619279 earnings per share for the current fiscal year.
Insider Buying and Selling at Cenovus Energy
In other news, insider John F. Soini sold 10,275 shares of the company’s stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of C$35.13, for a total value of C$360,960.75. Following the completion of the transaction, the insider owned 2,114 shares of the company’s stock, valued at C$74,264.82. This represents a 82.94% decrease in their ownership of the stock. Company insiders own 32.03% of the company’s stock.
Cenovus Energy Company Profile
Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 472 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds 6.7 billion boe of proven and probable reserves.