Cenovus Energy (TSE:CVE) Price Target Cut to C$29.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target dropped by research analysts at Royal Bank of Canada from C$33.00 to C$29.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. Royal Bank of Canada’s target price indicates a potential upside of 28.15% from the company’s current price.

Several other analysts also recently weighed in on CVE. Jefferies Financial Group dropped their price objective on Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating for the company in a research report on Monday. National Bankshares boosted their target price on shares of Cenovus Energy from C$36.00 to C$38.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Scotiabank lowered their target price on Cenovus Energy from C$35.00 to C$34.00 in a report on Friday, July 12th. Desjardins lifted their price target on Cenovus Energy from C$31.50 to C$33.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Raymond James set a C$33.00 price target on Cenovus Energy and gave the stock an “outperform” rating in a report on Wednesday, May 29th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of C$33.54.

Cenovus Energy Trading Down 0.4 %

Shares of TSE:CVE opened at C$22.63 on Tuesday. The business’s 50 day simple moving average is C$25.49 and its 200 day simple moving average is C$26.54. The company has a market capitalization of C$42.09 billion, a P/E ratio of 9.02, a P/E/G ratio of 0.09 and a beta of 2.67. The company has a debt-to-equity ratio of 33.34, a current ratio of 1.66 and a quick ratio of 1.00. Cenovus Energy has a 1 year low of C$19.82 and a 1 year high of C$29.96.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its quarterly earnings data on Thursday, August 1st. The company reported C$0.53 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of C$14.89 billion for the quarter, compared to the consensus estimate of C$13.44 billion. On average, research analysts anticipate that Cenovus Energy will post 2.5066667 EPS for the current fiscal year.

Insider Buying and Selling at Cenovus Energy

In other Cenovus Energy news, Senior Officer Geoffrey Murray purchased 3,200 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was purchased at an average cost of C$22.54 per share, for a total transaction of C$72,112.00. In related news, Senior Officer Geoffrey Murray acquired 3,200 shares of Cenovus Energy stock in a transaction dated Tuesday, September 17th. The stock was bought at an average price of C$22.54 per share, with a total value of C$72,112.00. Also, Senior Officer Jeffery George Lawson purchased 7,500 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was bought at an average cost of C$25.98 per share, with a total value of C$194,850.00. In the last 90 days, insiders bought 148,200 shares of company stock valued at $3,369,477. 31.71% of the stock is currently owned by company 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.