Cenovus Energy (TSE:CVE) Price Target Cut to C$31.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target cut by research analysts at BMO Capital Markets from C$33.00 to C$31.00 in a research report issued on Friday, BayStreet.CA reports. BMO Capital Markets’ target price indicates a potential upside of 25.00% from the stock’s previous close.

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

Cenovus Energy Stock Performance

Shares of Cenovus Energy stock opened at C$24.80 on Friday. The company has a market capitalization of C$46.13 billion, a PE ratio of 9.88, a P/E/G ratio of 0.09 and a beta of 2.67. The company has a 50-day simple moving average of C$24.48 and a two-hundred day simple moving average of C$26.42. Cenovus Energy has a one year low of C$19.82 and a one year high of C$29.96. 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 (TSE:CVE) (NYSE:CVE) last posted its quarterly earnings data 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). Cenovus Energy had a return on equity of 16.69% and a net margin of 8.54%. The firm had revenue of C$14.89 billion for the quarter, compared to the consensus estimate of C$13.44 billion. Research analysts expect that Cenovus Energy will post 2.0660125 EPS for the current fiscal year.

Insider Activity

In other Cenovus Energy news, Senior Officer Jonathan Michael Mckenzie bought 100,000 shares of Cenovus Energy stock in a transaction that occurred on Friday, September 13th. The stock was purchased at an average price of C$22.25 per share, with a total value of C$2,225,000.00. In related news, Senior Officer Jonathan Michael Mckenzie bought 100,000 shares of the stock in a transaction dated 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. Also, Senior Officer Jeffery George Lawson purchased 7,500 shares of Cenovus Energy stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of C$25.98 per share, with a total value of C$194,850.00. Insiders have acquired 152,200 shares of company stock valued at $3,459,477 in the last ninety days. 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.