Cenovus Energy (TSE:CVE) Price Target Lowered to C$31.00 at BMO Capital Markets

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target reduced by equities research analysts at BMO Capital Markets from C$33.00 to C$31.00 in a research note issued on Friday, BayStreet.CA reports. BMO Capital Markets’ price target points to a potential upside of 26.22% from the company’s current price.

Several other analysts have also recently issued reports on the stock. Scotiabank reduced their price target on shares of Cenovus Energy from C$35.00 to C$34.00 in a research report on Friday, July 12th. Jefferies Financial Group cut their target price on shares of Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Royal Bank of Canada cut their target price on shares of Cenovus Energy from C$33.00 to C$29.00 in a research note on Tuesday, September 17th. Desjardins upped their target price on shares of Cenovus Energy from C$31.50 to C$33.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, National Bankshares cut their target price on shares of Cenovus Energy from C$38.00 to C$31.00 in a research note on Friday, September 27th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$32.77.

Cenovus Energy Trading Up 1.6 %

TSE CVE traded up C$0.39 during trading hours on Friday, reaching C$24.56. The company had a trading volume of 2,247,778 shares, compared to its average volume of 5,415,697. The stock has a 50-day moving average of C$24.53 and a 200 day moving average of C$26.43. Cenovus Energy has a 1-year low of C$19.82 and a 1-year 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 stock has a market capitalization of C$45.68 billion, a P/E ratio of 9.78, a price-to-earnings-growth ratio of 0.09 and a beta of 2.67.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last issued its quarterly earnings results on Thursday, August 1st. The company reported C$0.53 earnings per share (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%. As a group, research analysts anticipate that Cenovus Energy will post 2.0660125 earnings per share for the current fiscal year.

Insider Transactions at Cenovus Energy

In other news, Senior Officer Jeffery George Lawson purchased 4,000 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was acquired at an average price of C$22.50 per share, with a total value of C$90,000.00. In related news, Senior Officer Geoffrey Murray acquired 3,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was purchased at an average price of C$22.54 per share, for a total transaction of C$72,112.00. Also, Senior Officer Jeffery George Lawson acquired 4,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were bought at an average price of C$22.50 per share, with a total value of C$90,000.00. Insiders bought 152,200 shares of company stock valued at $3,459,477 in the last 90 days. 32.03% of the stock is currently owned by insiders.

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.