Cenovus Energy (TSE:CVE) Given New C$33.00 Price Target at Desjardins

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective upped by analysts at Desjardins from C$31.50 to C$33.00 in a report issued on Tuesday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ target price suggests a potential upside of 23.09% from the company’s previous close.

CVE has been the subject of a number of other research reports. National Bankshares upped their price objective on shares of Cenovus Energy from C$29.00 to C$38.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Jefferies Financial Group increased their target price 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. Raymond James set a C$33.00 price objective on Cenovus Energy and gave the company an “outperform” rating in a research report on Wednesday, May 29th. Scotiabank cut their target price on shares of Cenovus Energy from C$35.00 to C$34.00 in a report on Friday, July 12th. Finally, CIBC upped their price target on shares of Cenovus Energy from C$31.00 to C$35.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Cenovus Energy has a consensus rating of “Buy” and a consensus price target of C$34.08.

Cenovus Energy Stock Down 2.5 %

Shares of CVE traded down C$0.69 on Tuesday, reaching C$26.81. The company’s stock had a trading volume of 1,219,986 shares, compared to its average volume of 5,248,373. The stock has a market capitalization of C$50.13 billion, a PE ratio of 10.80, a PEG ratio of 0.09 and a beta of 2.77. The company has a current ratio of 1.70, a quick ratio of 1.00 and a debt-to-equity ratio of 33.03. Cenovus Energy has a twelve month low of C$19.82 and a twelve month high of C$29.96. The firm has a fifty day moving average of C$26.95 and a 200-day moving average of C$25.66.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its earnings results on Wednesday, May 1st. The company reported C$0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.47 by C$0.15. The company had revenue of C$13.40 billion for the quarter, compared to analysts’ expectations of C$13.71 billion. Cenovus Energy had a return on equity of 16.11% and a net margin of 8.72%. Equities analysts predict that Cenovus Energy will post 2.7840467 EPS for the current year.

Insider Transactions at Cenovus Energy

In related news, Director Alex Pourbaix sold 200,000 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of C$25.14, for a total transaction of C$5,028,880.00. In related news, Senior Officer Jonathan Michael Mckenzie sold 180,180 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of C$28.26, for a total transaction of C$5,091,508.42. Also, Director Alex Pourbaix sold 200,000 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of C$25.14, for a total transaction of C$5,028,880.00. Over the last 90 days, insiders have acquired 13,000 shares of company stock worth $321,710 and have sold 864,176 shares worth $22,697,316. Company 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.