BMO Capital Markets Increases Cenovus Energy (TSE:CVE) Price Target to C$33.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target raised by equities research analysts at BMO Capital Markets from C$29.00 to C$33.00 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. BMO Capital Markets’ price objective indicates a potential upside of 21.95% from the company’s current price.

A number of other brokerages have also recently weighed in on CVE. National Bankshares dropped their price target on shares of Cenovus Energy from C$36.00 to C$29.00 and set an “outperform” rating for the company in a research report on Wednesday, January 10th. Jefferies Financial Group raised their price target on Cenovus Energy from C$27.00 to C$28.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Desjardins boosted their price objective on Cenovus Energy from C$28.00 to C$29.50 and gave the company a “buy” rating in a report on Friday, March 22nd. CIBC raised their target price on Cenovus Energy from C$30.00 to C$31.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Finally, JPMorgan Chase & Co. cut their price target on shares of Cenovus Energy from C$35.00 to C$34.00 in a research note on Thursday, January 11th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cenovus Energy presently has an average rating of “Moderate Buy” and a consensus price target of C$31.54.

Cenovus Energy Trading Up 0.5 %

Shares of TSE CVE traded up C$0.13 during midday trading on Thursday, reaching C$27.06. 1,561,134 shares of the stock were exchanged, compared to its average volume of 4,679,156. Cenovus Energy has a twelve month low of C$19.82 and a twelve month high of C$29.18. The stock has a market capitalization of C$50.60 billion, a P/E ratio of 12.76, a PEG ratio of 0.09 and a beta of 2.79. The company has a 50 day simple moving average of C$23.30 and a 200 day simple moving average of C$24.31. The company has a debt-to-equity ratio of 34.64, a quick ratio of 1.00 and a current ratio of 1.56.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its earnings results on Thursday, February 15th. The company reported C$0.39 EPS for the quarter, beating analysts’ consensus estimates of C$0.33 by C$0.06. The company had revenue of C$13.13 billion for the quarter, compared to the consensus estimate of C$13.06 billion. Cenovus Energy had a return on equity of 14.60% and a net margin of 7.87%. During the same quarter in the previous year, the business earned $0.39 earnings per share. As a group, equities analysts expect that Cenovus Energy will post 2.6896208 earnings per share for the current year.

Insider Activity at Cenovus Energy

In other Cenovus Energy news, Senior Officer Andrew Dahlin sold 25,000 shares of Cenovus Energy stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of C$25.99, for a total transaction of C$649,657.50. In other Cenovus Energy news, Senior Officer Andrew Dahlin sold 25,000 shares of Cenovus Energy stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of C$25.99, for a total value of C$649,657.50. Also, Senior Officer Jonathan Michael Mckenzie bought 50,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were acquired at an average price of C$23.49 per share, with a total value of C$1,174,500.00. 31.50% of the stock is owned by corporate 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.