Cenovus Energy (TSE:CVE) Price Target Raised to C$38.00 at National Bankshares

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price increased by investment analysts at National Bankshares from C$29.00 to C$38.00 in a note issued to investors on Friday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. National Bankshares’ target price would indicate a potential upside of 32.27% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group upped their price target on shares of Cenovus Energy from C$28.00 to C$36.00 and gave the stock a “buy” rating in a report on Friday, April 12th. BMO Capital Markets raised their price objective on shares of Cenovus Energy from C$29.00 to C$33.00 in a research report on Thursday, March 28th. Royal Bank of Canada raised their price objective on Cenovus Energy from C$28.00 to C$32.00 in a report on Tuesday, April 9th. CIBC upped their price objective on shares of Cenovus Energy from C$30.00 to C$31.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Finally, Scotiabank cut their price target on shares of Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating for the company in a research report on Tuesday, January 16th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$32.88.

Cenovus Energy Stock Performance

Cenovus Energy stock traded up C$0.27 during mid-day trading on Friday, reaching C$28.73. 3,348,231 shares of the company’s stock were exchanged, compared to its average volume of 4,691,509. The firm has a market capitalization of C$53.73 billion, a PE ratio of 13.58, a P/E/G ratio of 0.09 and a beta of 2.78. The company has a quick ratio of 1.00, a current ratio of 1.56 and a debt-to-equity ratio of 34.64. The business’s fifty day simple moving average is C$25.62 and its 200 day simple moving average is C$24.42. Cenovus Energy has a one year low of C$19.82 and a one year high of C$29.96.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its quarterly earnings data on Thursday, February 15th. The company reported C$0.39 earnings per share (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 analyst estimates 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 period in the previous year, the company posted $0.39 EPS. On average, sell-side analysts expect that Cenovus Energy will post 2.6887232 earnings per share for the current year.

Insider Activity

In related news, Senior Officer Andrew Dahlin sold 25,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of C$25.99, for a total transaction of C$649,657.50. In related news, Senior Officer Andrew Dahlin sold 25,000 shares of the stock in a transaction that occurred 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 Rhona Marie Delfrari sold 18,000 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of C$29.21, for a total transaction of C$525,835.80. Insiders have sold a total of 87,000 shares of company stock valued at $2,414,507 in the last 90 days. 31.50% of the stock is currently owned by insiders.

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.