BMO Capital Markets Has Lowered Expectations for Cenovus Energy (TSE:CVE) Stock Price

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price decreased by investment analysts at BMO Capital Markets from C$31.00 to C$28.00 in a research report issued on Friday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price objective would indicate a potential upside of 27.91% from the stock’s previous close.

CVE has been the subject of several other research reports. Royal Bank of Canada decreased their price target on Cenovus Energy from C$33.00 to C$29.00 in a research note on Tuesday, September 17th. Scotiabank reduced their price objective on shares of Cenovus Energy from C$35.00 to C$34.00 in a research note on Friday, July 12th. Desjardins raised their target price on shares of 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. National Bankshares cut their target price on shares of Cenovus Energy from C$38.00 to C$31.00 in a research report on Friday, September 27th. Finally, Raymond James lowered their price target on Cenovus Energy from C$33.00 to C$32.00 in a research report on Tuesday, October 15th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of C$31.90.

Cenovus Energy Trading Down 2.2 %

TSE:CVE opened at C$21.89 on Friday. The company has a market capitalization of C$40.72 billion, a P/E ratio of 8.72, a P/E/G ratio of 0.09 and a beta of 2.63. The stock’s 50 day moving average price is C$23.53 and its 200 day moving average price is C$25.88. The company has a debt-to-equity ratio of 33.34, a quick ratio of 1.00 and a current ratio of 1.66. Cenovus Energy has a 52 week low of C$19.82 and a 52 week high of C$29.96.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings results on Thursday, August 1st. The company reported C$0.53 EPS for the quarter, missing the consensus estimate of C$0.72 by C($0.19). The business had revenue of C$14.89 billion for the quarter, compared to analyst estimates of C$13.44 billion. Cenovus Energy had a return on equity of 16.69% and a net margin of 8.54%. On average, research analysts forecast that Cenovus Energy will post 2.2619279 EPS for the current fiscal year.

Insider Activity

In other Cenovus Energy news, Senior Officer Jonathan Michael Mckenzie purchased 100,000 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were purchased at an average price of C$22.25 per share, for a total transaction of C$2,225,000.00. In related news, Senior Officer Keith Chiasson bought 25,000 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of C$23.40 per share, with a total value of C$585,000.00. Also, Senior Officer Jonathan Michael Mckenzie bought 100,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were bought at an average price of C$22.25 per share, with a total value of C$2,225,000.00. Over the last ninety days, insiders have bought 152,200 shares of company stock worth $3,459,477. Company insiders own 32.03% 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.