Cenovus Energy Rating Reiterated by Scotiabank (CVE)
Cenovus Energy (NYSE:CVE)‘s stock had its “sector outperform” rating reaffirmed by research analysts at Scotiabank in a report released on Tuesday, Analyst Ratings Network.com reports. They currently have a $40.00 price target on the stock. Scotiabank’s price objective points to a potential upside of 31.71% from the stock’s previous close.
Shares of Cenovus Energy (NYSE:CVE) traded up 1.88% on Tuesday, hitting $30.37. 954,446 shares of the company’s stock traded hands. Cenovus Energy has a one year low of $27.25 and a one year high of $36.11. The stock’s 50-day moving average is $29.13 and its 200-day moving average is $29.74. The company has a market cap of $22.954 billion and a price-to-earnings ratio of 42.52.
Cenovus Energy (NYSE:CVE) last announced its earnings results on Wednesday, July 24th. The company reported $0.34 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.48 by $0.14. During the same quarter last year, the company posted $0.37 earnings per share. Analysts expect that Cenovus Energy will post $1.80 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on CVE. Analysts at Zacks upgraded shares of Cenovus Energy (NYSE:CVE) from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, August 28th. They now have a $29.40 price target on the stock. Finally, analysts at TD Securities cut their price target on shares of Cenovus Energy (NYSE:CVE) from $41.00 to $40.00 in a research note to investors on Thursday, July 25th.
Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Cenovus Energy has an average rating of “Buy” and a consensus target price of $38.24.
Cenovus Energy Inc (NYSE:CVE) is an integrated oil company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.