Cenovus Energy (TSE:CVE) PT Lowered to C$33.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price reduced by investment analysts at Jefferies Financial Group from C$36.00 to C$33.00 in a research report issued on Monday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 45.25% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Scotiabank reduced their price target on Cenovus Energy from C$35.00 to C$34.00 in a report on Friday, July 12th. National Bankshares boosted their price objective on Cenovus Energy from C$36.00 to C$38.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Raymond James set a C$33.00 price objective on Cenovus Energy and gave the stock an “outperform” rating in a report on Wednesday, May 29th. Finally, Desjardins boosted their price objective on Cenovus Energy from C$31.50 to C$33.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$33.54.

Cenovus Energy Trading Up 1.6 %

Cenovus Energy stock opened at C$22.72 on Monday. Cenovus Energy has a 52 week low of C$19.82 and a 52 week high of C$29.96. The company has a debt-to-equity ratio of 33.34, a quick ratio of 1.00 and a current ratio of 1.66. The stock has a market capitalization of C$42.26 billion, a P/E ratio of 9.05, a PEG ratio of 0.09 and a beta of 2.67. The stock has a 50-day simple moving average of C$25.56 and a 200 day simple moving average of C$26.55.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its quarterly earnings results on Thursday, August 1st. The company reported C$0.53 EPS for the quarter, missing analysts’ consensus estimates of C$0.72 by C($0.19). Cenovus Energy had a return on equity of 16.69% and a net margin of 8.54%. The business had revenue of C$14.89 billion for the quarter, compared to the consensus estimate of C$13.44 billion. Analysts expect that Cenovus Energy will post 2.5066667 earnings per share for the current year.

Insider Buying and Selling at Cenovus Energy

In other Cenovus Energy news, Director Alex Pourbaix sold 200,000 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of C$26.03, for a total transaction of C$5,206,700.00. In other Cenovus Energy news, Director Alex Pourbaix sold 200,000 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of C$26.03, for a total transaction of C$5,206,700.00. Also, Senior Officer Jeffery George Lawson acquired 9,000 shares of the stock in a transaction on Tuesday, September 10th. The shares were purchased at an average price of C$21.92 per share, with a total value of C$197,280.00. Insiders bought a total of 148,200 shares of company stock worth $3,369,477 over the last three months. Corporate insiders own 31.71% of the company’s stock.

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.