Cenovus Energy (TSE:CVE) Price Target Cut to C$31.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target decreased by stock analysts at National Bankshares from C$38.00 to C$31.00 in a research note issued to investors on Friday, BayStreet.CA reports. National Bankshares’ price objective indicates a potential upside of 38.39% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Desjardins boosted their price target on shares of Cenovus Energy from C$31.50 to C$33.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Scotiabank decreased their price objective on Cenovus Energy from C$35.00 to C$34.00 in a report on Friday, July 12th. Royal Bank of Canada dropped their target price on shares of Cenovus Energy from C$33.00 to C$29.00 in a research report on Tuesday, September 17th. Finally, Jefferies Financial Group decreased their price objective on shares of Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating for the company in a report on Monday, September 16th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of C$33.00.

Cenovus Energy Price Performance

TSE:CVE traded up C$0.45 during trading hours on Friday, reaching C$22.40. The company had a trading volume of 1,750,640 shares, compared to its average volume of 5,416,714. The firm has a market capitalization of C$41.66 billion, a PE ratio of 8.92, a PEG ratio of 0.09 and a beta of 2.67. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 33.34. Cenovus Energy has a one year low of C$19.82 and a one year high of C$29.96. The stock has a 50-day moving average of C$25.07 and a two-hundred day moving average of C$26.52.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its quarterly earnings results on Thursday, August 1st. The company reported C$0.53 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.72 by C($0.19). The company had revenue of C$14.89 billion during the quarter, compared to the consensus estimate of C$13.44 billion. Cenovus Energy had a net margin of 8.54% and a return on equity of 16.69%. Analysts forecast that Cenovus Energy will post 2.2599805 earnings per share for the current year.

Insider Activity at Cenovus Energy

In other news, Senior Officer Keith Chiasson purchased 25,000 shares of the stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of C$23.40 per share, with a total value of C$585,000.00. In other news, Senior Officer Keith Chiasson purchased 25,000 shares of the stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of C$23.40 per share, for a total transaction of C$585,000.00. Also, Senior Officer Jeffery George Lawson acquired 9,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were bought at an average cost of C$21.92 per share, with a total value of C$197,280.00. Over the last quarter, insiders have bought 148,200 shares of company stock worth $3,369,477. 31.71% of the stock is 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.