Cenovus Energy (TSE:CVE) Given New C$33.00 Price Target at BMO Capital Markets

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective lifted by research analysts at BMO Capital Markets from C$29.00 to C$33.00 in a report released on Thursday, BayStreet.CA reports. BMO Capital Markets’ price target would suggest a potential upside of 21.95% from the stock’s previous close.

CVE has been the topic of several other reports. JPMorgan Chase & Co. lowered their target price on shares of Cenovus Energy from C$35.00 to C$34.00 in a research report on Thursday, January 11th. Scotiabank lowered their target price on Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating on the stock in a report on Tuesday, January 16th. CIBC lifted their price target on Cenovus Energy from C$30.00 to C$31.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. National Bankshares lowered their price objective on shares of Cenovus Energy from C$36.00 to C$29.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 10th. Finally, Desjardins upped their price target on shares of Cenovus Energy from C$28.00 to C$29.50 and gave the company a “buy” rating in a report on Friday, March 22nd. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$31.54.

Cenovus Energy Stock Performance

TSE:CVE traded up C$0.13 during mid-day trading on Thursday, reaching C$27.06. The stock had a trading volume of 1,561,134 shares, compared to its average volume of 4,679,156. The company has a debt-to-equity ratio of 34.64, a quick ratio of 1.00 and a current ratio of 1.56. The business has a 50 day simple moving average of C$23.30 and a 200 day simple moving average of C$24.31. Cenovus Energy has a twelve month low of C$19.82 and a twelve month high of C$29.18. The firm has a market capitalization of C$50.60 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 0.09 and a beta of 2.79.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings data on Thursday, February 15th. The company reported C$0.39 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.33 by C$0.06. The firm had revenue of C$13.13 billion for the quarter, compared to analyst estimates of C$13.06 billion. Cenovus Energy had a return on equity of 14.60% and a net margin of 7.87%. During the same quarter in the prior year, the company posted $0.39 earnings per share. On average, analysts expect that Cenovus Energy will post 2.6896208 earnings per share for the current fiscal year.

Insider Transactions at Cenovus Energy

In other news, Senior Officer Jonathan Michael Mckenzie purchased 50,000 shares of the stock in a transaction on Friday, February 16th. The stock was purchased at an average price of C$23.49 per share, with a total value of C$1,174,500.00. In other Cenovus Energy news, Senior Officer Jonathan Michael Mckenzie acquired 50,000 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was bought at an average cost of C$23.49 per share, for a total transaction of C$1,174,500.00. Also, Senior Officer Andrew Dahlin sold 20,000 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of C$27.08, for a total transaction of C$541,682.00. Insiders own 31.50% of the company’s stock.

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.