National Bankshares Has Lowered Expectations for Cenovus Energy (TSE:CVE) Stock Price

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price cut by research analysts at National Bankshares from C$31.00 to C$29.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bankshares’ price target would indicate a potential upside of 40.16% from the company’s current price.

A number of other equities analysts have also weighed in on CVE. TD Securities reduced their target price on shares of Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Royal Bank of Canada reduced their price objective on Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Jefferies Financial Group dropped their target price on Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Raymond James upped their price target on Cenovus Energy from C$32.00 to C$33.00 in a research report on Friday, December 13th. Finally, BMO Capital Markets decreased their price target on shares of Cenovus Energy from C$28.00 to C$25.00 in a research note on Friday, December 13th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cenovus Energy presently has a consensus rating of “Buy” and a consensus price target of C$31.30.

Cenovus Energy Stock Down 1.1 %

TSE CVE traded down C$0.23 during trading hours on Thursday, reaching C$20.69. 1,475,523 shares of the company’s stock were exchanged, compared to its average volume of 5,326,457. 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 one year low of C$19.82 and a one year high of C$29.96. The company’s 50-day moving average is C$22.53 and its two-hundred day moving average is C$24.47. The company has a market capitalization of C$38.48 billion, a price-to-earnings ratio of 8.24, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63.

Insider Activity

In related news, Senior Officer Jeffery George Lawson acquired 4,600 shares of Cenovus Energy stock in a transaction on Friday, December 13th. The stock was purchased at an average cost of C$21.74 per share, with a total value of C$100,004.00. Insiders bought a total of 9,600 shares of company stock valued at $211,699 in the last quarter. Company 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.