Cenovus Energy (TSE:CVE) Given New C$57.00 Price Target at National Bank Financial

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target hoisted by analysts at National Bank Financial from C$30.00 to C$57.00 in a report issued on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bank Financial’s target price suggests a potential upside of 56.12% from the company’s current price.

A number of other brokerages have also issued reports on CVE. Royal Bank Of Canada boosted their target price on shares of Cenovus Energy from C$31.00 to C$32.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Jefferies Financial Group increased their price target on shares of Cenovus Energy from C$30.00 to C$37.00 in a report on Monday, March 16th. JPMorgan Chase & Co. downgraded shares of Cenovus Energy from a “buy” rating to a “neutral” rating and set a C$25.00 price objective on the stock. in a report on Tuesday, January 20th. Gerdes Energy Research lowered shares of Cenovus Energy from a “buy” rating to a “neutral” rating in a research report on Friday, March 20th. Finally, The Goldman Sachs Group upgraded shares of Cenovus Energy to a “strong-buy” rating in a research note on Friday, January 2nd. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$35.33.

Cenovus Energy Stock Performance

CVE traded down C$0.52 during midday trading on Tuesday, reaching C$36.51. The company’s stock had a trading volume of 6,885,746 shares, compared to its average volume of 10,186,706. The stock has a market cap of C$68.61 billion, a P/E ratio of 16.98, a PEG ratio of 0.09 and a beta of 0.63. The company has a fifty day simple moving average of C$30.33 and a 200 day simple moving average of C$26.30. The company has a current ratio of 1.57, a quick ratio of 1.00 and a debt-to-equity ratio of 53.80. Cenovus Energy has a twelve month low of C$14.48 and a twelve month high of C$38.50.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last issued its quarterly earnings results on Thursday, February 19th. The company reported C$0.50 EPS for the quarter. Cenovus Energy had a return on equity of 13.16% and a net margin of 7.91%.The company had revenue of C$10.88 billion for the quarter. Research analysts expect that Cenovus Energy will post 2.2619279 earnings per share for the current year.

Insiders Place Their Bets

In other Cenovus Energy news, insider John F. Soini sold 10,275 shares of Cenovus Energy stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of C$35.13, for a total transaction of C$360,960.75. Following the sale, the insider owned 2,114 shares in the company, valued at C$74,264.82. The trade was a 82.94% decrease in their ownership of the stock. 32.03% of the stock is owned by corporate insiders.

About Cenovus Energy

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.