National Bankshares Cuts Cenovus Energy (TSE:CVE) Price Target to C$29.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target reduced by research analysts at National Bankshares from C$31.00 to C$29.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bankshares’ target price indicates a potential upside of 40.03% from the company’s current price.

Several other research firms have also commented on CVE. BMO Capital Markets cut their target price on shares of Cenovus Energy from C$28.00 to C$25.00 in a research note on Friday, December 13th. Raymond James increased their price objective on Cenovus Energy from C$32.00 to C$33.00 in a research report on Friday, December 13th. Royal Bank of Canada decreased their target price on Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. TD Securities reduced their target price on Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating for the company in a report on Friday, December 13th. Finally, Jefferies Financial Group decreased their price target 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, September 16th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$31.20.

Cenovus Energy Price Performance

Shares of TSE CVE opened at C$20.71 on Thursday. Cenovus Energy has a twelve month low of C$19.82 and a twelve month high of C$29.96. The company has a current ratio of 1.66, a quick ratio of 1.00 and a debt-to-equity ratio of 33.34. The firm has a 50-day moving average of C$22.37 and a two-hundred day moving average of C$24.37. The company has a market capitalization of C$38.52 billion, a price-to-earnings ratio of 8.25, a PEG ratio of 0.09 and a beta of 2.63.

Insider Activity at Cenovus Energy

In other news, Senior Officer Jeffery George Lawson acquired 4,600 shares of Cenovus Energy stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of C$21.74 per share, with a total value of C$100,004.00. Over the last three months, insiders have purchased 9,600 shares of company stock valued at $211,699. Corporate insiders own 32.03% 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.