Cenovus Energy (TSE:CVE) Price Target Increased to C$32.00 by Analysts at TD Securities

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price raised by equities researchers at TD Securities from C$30.00 to C$32.00 in a research note issued to investors on Thursday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ price target would indicate a potential upside of 13.19% from the company’s previous close.

CVE has been the topic of a number of other reports. Jefferies Financial Group upped their price target on Cenovus Energy from C$28.00 to C$36.00 and gave the company a “buy” rating in a report on Friday, April 12th. BMO Capital Markets upped their price target on Cenovus Energy from C$29.00 to C$33.00 in a report on Thursday, March 28th. National Bankshares upped their price objective on Cenovus Energy from C$29.00 to C$38.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. Royal Bank of Canada upped their price objective on Cenovus Energy from C$28.00 to C$32.00 in a research report on Tuesday, April 9th. Finally, Scotiabank reduced their price objective on Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating for the company in a research report on Tuesday, January 16th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$33.19.

Cenovus Energy Stock Up 1.0 %

Cenovus Energy stock traded up C$0.28 during mid-day trading on Thursday, hitting C$28.27. The company had a trading volume of 2,321,497 shares, compared to its average volume of 4,610,159. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 34.64. The stock’s 50 day moving average price is C$26.71 and its two-hundred day moving average price is C$24.50. Cenovus Energy has a 12 month low of C$19.82 and a 12 month high of C$29.96. The company has a market capitalization of C$52.86 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 0.09 and a beta of 2.78.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its earnings results on Thursday, February 15th. The company reported C$0.39 EPS for the quarter, topping the consensus estimate 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 business had revenue of C$13.13 billion for the quarter, compared to the consensus estimate of C$13.06 billion. During the same period in the previous year, the company posted $0.39 earnings per share. As a group, sell-side analysts anticipate that Cenovus Energy will post 2.6887232 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of C$29.21, for a total transaction of C$525,835.80. In other Cenovus Energy news, Senior Officer Andrew Dahlin sold 25,000 shares of Cenovus Energy stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of C$25.99, for a total value of C$649,657.50. Also, Senior Officer Rhona Marie Delfrari sold 18,000 shares of Cenovus Energy stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of C$29.21, for a total value of C$525,835.80. Over the last 90 days, insiders sold 87,000 shares of company stock worth $2,414,507. 31.50% of the stock is owned by corporate insiders.

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.