Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective cut by equities researchers at BMO Capital Markets from C$16.00 to C$15.00 in a report released on Friday, BayStreet.CA reports. BMO Capital Markets’ price target indicates a potential upside of 32.39% from the company’s previous close.
Other equities analysts have also recently issued reports about the stock. National Bank Financial boosted their price target on shares of Cenovus Energy from C$14.00 to C$14.50 and gave the company an “outperform” rating in a report on Thursday, February 14th. Raymond James lowered their price target on shares of Cenovus Energy from C$13.00 to C$12.00 and set a “market perform” rating on the stock in a report on Thursday, February 14th. CIBC boosted their price target on shares of Cenovus Energy from C$12.50 to C$16.00 in a report on Tuesday, April 23rd. Cormark boosted their price target on shares of Cenovus Energy from C$12.50 to C$14.50 in a report on Tuesday, April 23rd. Finally, GMP Securities boosted their price target on shares of Cenovus Energy from C$17.00 to C$17.50 in a report on Thursday, April 25th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Cenovus Energy currently has a consensus rating of “Buy” and a consensus price target of C$15.31.
TSE:CVE traded up C$0.12 during trading hours on Friday, hitting C$11.33. 1,412,718 shares of the stock traded hands, compared to its average volume of 3,961,444. The company has a quick ratio of 0.65, a current ratio of 1.10 and a debt-to-equity ratio of 56.55. Cenovus Energy has a fifty-two week low of C$8.74 and a fifty-two week high of C$14.84. The company has a market cap of $13.77 billion and a P/E ratio of -7.30.
Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its earnings results on Wednesday, April 24th. The company reported C$0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.17 by C($0.11). The business had revenue of C$5.20 billion for the quarter, compared to the consensus estimate of C$5.01 billion. Equities research analysts anticipate that Cenovus Energy will post 0.85 earnings per share for the current year.
In other Cenovus Energy news, Director Keith A.J. Macphail acquired 14,000 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was purchased at an average cost of C$13.46 per share, for a total transaction of C$188,440.00. Following the completion of the acquisition, the director now owns 172,000 shares of the company’s stock, valued at approximately C$2,315,120.
About Cenovus Energy
Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake.
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