Cenovus Energy (TSE:CVE) Given New C$31.50 Price Target at Desjardins

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective upped by equities research analysts at Desjardins from C$29.50 to C$31.50 in a research report issued on Tuesday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ price objective would suggest a potential upside of 8.28% from the company’s previous close.

CVE has been the topic of several other research reports. CIBC lifted their price target on shares of Cenovus Energy from C$31.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Monday. National Bankshares boosted their price objective on shares of Cenovus Energy from C$29.00 to C$38.00 and gave the stock an “outperform” rating in a research note on Friday. Royal Bank of Canada increased their price objective on shares of Cenovus Energy from C$28.00 to C$32.00 in a research note on Tuesday, April 9th. BMO Capital Markets increased their target price on shares of Cenovus Energy from C$29.00 to C$33.00 in a research report on Thursday, March 28th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Cenovus Energy from C$35.00 to C$34.00 in a research report on Thursday, January 11th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Cenovus Energy has a consensus rating of “Moderate Buy” and a consensus price target of C$33.35.

Cenovus Energy Price Performance

Shares of CVE traded up C$0.15 during trading hours on Tuesday, reaching C$29.09. The stock had a trading volume of 1,707,950 shares, compared to its average volume of 4,658,938. The stock has a market capitalization of C$54.40 billion, a PE ratio of 13.72, a PEG ratio of 0.09 and a beta of 2.78. Cenovus Energy has a 12 month low of C$19.82 and a 12 month high of C$29.96. The company’s 50-day moving average is C$25.89 and its two-hundred day moving average is C$24.41. The company has a debt-to-equity ratio of 34.64, a quick ratio of 1.00 and a current ratio of 1.56.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its quarterly earnings results on Thursday, February 15th. The company reported C$0.39 EPS for the quarter, topping analysts’ consensus estimates of C$0.33 by C$0.06. The company had revenue of C$13.13 billion for the quarter, compared to analysts’ expectations of C$13.06 billion. Cenovus Energy had a net margin of 7.87% and a return on equity of 14.60%. During the same quarter in the previous year, the firm posted $0.39 EPS. Research analysts expect that Cenovus Energy will post 2.6887232 EPS for the current year.

Insider Buying and Selling

In other Cenovus Energy news, Senior Officer Andrew Dahlin sold 25,000 shares of Cenovus Energy stock in a transaction 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. In other news, Senior Officer Andrew Dahlin sold 25,000 shares of the business’s stock in a transaction dated 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 the company’s 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 three months, insiders sold 87,000 shares of company stock worth $2,414,507. 31.50% of the stock is owned by corporate insiders.

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.