Cenovus Energy (TSE:CVE) PT Lowered to C$29.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective decreased by Royal Bank of Canada from C$33.00 to C$29.00 in a report issued on Tuesday, BayStreet.CA reports. Royal Bank of Canada’s price objective would indicate a potential upside of 28.55% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Desjardins upped their price objective on Cenovus Energy from C$31.50 to C$33.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. National Bankshares boosted their target price on Cenovus Energy from C$36.00 to C$38.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Scotiabank decreased their target price on Cenovus Energy from C$35.00 to C$34.00 in a research report on Friday, July 12th. Jefferies Financial Group decreased their price objective on Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Raymond James set a C$33.00 price objective on Cenovus Energy and gave the company an “outperform” rating in a research report on Wednesday, May 29th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$33.54.

Cenovus Energy Stock Performance

TSE:CVE traded up C$0.20 during mid-day trading on Tuesday, hitting C$22.56. 2,329,838 shares of the company traded hands, compared to its average volume of 5,297,660. The stock’s fifty day moving average price is C$25.64 and its 200-day moving average price is C$26.56. Cenovus Energy has a one year low of C$19.82 and a one year high of C$29.96. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 33.34. The firm has a market cap of C$41.96 billion, a price-to-earnings ratio of 9.00, a price-to-earnings-growth ratio of 0.09 and a beta of 2.67.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its quarterly earnings data on Thursday, August 1st. The company reported C$0.53 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.72 by C($0.19). The business had revenue of C$14.89 billion during the quarter, compared to the consensus estimate of C$13.44 billion. Cenovus Energy had a return on equity of 16.69% and a net margin of 8.54%. Research analysts anticipate that Cenovus Energy will post 2.5066667 earnings per share for the current fiscal year.

Insider Transactions at Cenovus Energy

In other news, Director Alex Pourbaix sold 200,000 shares of the stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of C$25.58, for a total value of C$5,115,360.00. In other news, Senior Officer Geoffrey Murray acquired 3,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were bought at an average price of C$22.54 per share, with a total value of C$72,112.00. Also, Director Alex Pourbaix sold 200,000 shares of the stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of C$25.58, for a total value of C$5,115,360.00. Over the last three months, insiders have acquired 148,200 shares of company stock worth $3,369,477 and have sold 440,084 shares worth $11,359,125. Company insiders own 31.71% 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.