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

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target raised by equities researchers at National Bankshares from C$36.00 to C$38.00 in a research note issued to investors on Friday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. National Bankshares’ price target points to a potential upside of 53.54% from the company’s current price.

CVE has been the topic of a number of other reports. Scotiabank cut their price target on Cenovus Energy from C$35.00 to C$34.00 in a research note on Friday, July 12th. TD Securities lifted their target price on Cenovus Energy from C$30.00 to C$32.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Jefferies Financial Group lifted their target price on Cenovus Energy from C$28.00 to C$36.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Desjardins boosted their price objective on Cenovus Energy from C$31.50 to C$33.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada boosted their price objective on Cenovus Energy from C$32.00 to C$33.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$34.08.

Cenovus Energy Price Performance

TSE:CVE traded down C$1.42 during trading hours on Friday, hitting C$24.75. The company’s stock had a trading volume of 3,832,724 shares, compared to its average volume of 5,170,964. The stock has a fifty day simple moving average of C$26.89 and a 200-day simple moving average of C$25.91. The company has a market capitalization of C$46.28 billion, a P/E ratio of 9.93, a PEG ratio of 0.09 and a beta of 2.77. The company has a debt-to-equity ratio of 33.03, a current ratio of 1.70 and a quick ratio of 1.00. Cenovus Energy has a twelve month low of C$19.82 and a twelve month high of C$29.96.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its quarterly earnings data on Wednesday, May 1st. The company reported C$0.62 earnings per share for the quarter, beating the consensus estimate of C$0.47 by C$0.15. The business had revenue of C$13.40 billion for the quarter, compared to analyst estimates of C$13.71 billion. Cenovus Energy had a return on equity of 16.11% and a net margin of 8.72%. On average, analysts anticipate that Cenovus Energy will post 2.7840467 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Alex Pourbaix sold 200,000 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of C$25.14, for a total transaction of C$5,028,880.00. In other Cenovus Energy news, Senior Officer Jonathan Michael Mckenzie sold 180,180 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of C$28.26, for a total value of C$5,091,508.42. Also, Director Alex Pourbaix sold 200,000 shares of the business’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of C$25.14, for a total value of C$5,028,880.00. Over the last 90 days, insiders purchased 13,000 shares of company stock worth $321,710 and sold 864,176 shares worth $22,697,316. 31.50% of the stock is currently 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.