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

Cenovus Energy (TSE:CVE - Get Free Report) NYSE: CVE had its price target hoisted by equities research analysts at National Bankshares from C$29.00 to C$38.00 in a research note issued to investors on Friday, BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. National Bankshares' target price suggests a potential upside of 32.45% from the stock's previous close.

Several other equities analysts also recently weighed in on CVE. Jefferies Financial Group lifted their price target on shares of Cenovus Energy from C$28.00 to C$36.00 and gave the company a "buy" rating in a report on Friday, April 12th. BMO Capital Markets lifted their target price on shares of Cenovus Energy from C$29.00 to C$33.00 in a research note on Thursday, March 28th. JPMorgan Chase & Co. cut their price target on Cenovus Energy from C$35.00 to C$34.00 in a research note on Thursday, January 11th. Scotiabank reduced their price objective on shares of Cenovus Energy from C$31.00 to C$28.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 16th. Finally, CIBC upped their target price on shares of Cenovus Energy from C$30.00 to C$31.00 and gave the stock an "outperform" rating in a research report on Friday, March 22nd. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Cenovus Energy has an average rating of "Moderate Buy" and an average target price of C$32.88.

Cenovus Energy Stock Performance

Shares of Cenovus Energy stock traded up C$0.23 on Friday, hitting C$28.69. 4,786,809 shares of the company's stock were exchanged, compared to its average volume of 4,712,938. The company has a debt-to-equity ratio of 34.64, a quick ratio of 1.00 and a current ratio of 1.56. The stock has a market capitalization of C$53.65 billion, a PE ratio of 13.55, a PEG ratio of 0.09 and a beta of 2.78. Cenovus Energy has a 1 year low of C$19.82 and a 1 year high of C$29.96. The company has a 50-day simple moving average of C$25.62 and a 200-day simple moving average of C$24.42.

Cenovus Energy (TSE:CVE - Get Free Report) NYSE: CVE last released its quarterly earnings results on Thursday, February 15th. The company reported C$0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.33 by C$0.06. Cenovus Energy had a return on equity of 14.60% and a net margin of 7.87%. The business had revenue of C$13.13 billion during the quarter, compared to analyst estimates of C$13.06 billion. During the same quarter in the previous year, the company posted $0.39 earnings per share. As a group, equities analysts anticipate that Cenovus Energy will post 2.6887232 EPS for the current year.

Insider Buying and Selling at Cenovus Energy

In other news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of Cenovus Energy stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of C$29.21, for a total value of C$525,835.80. In other news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the firm's stock in a transaction dated Monday, April 8th. The shares were sold at an average price of C$29.21, for a total value of C$525,835.80. Also, Senior Officer Gary Frederick Molnar sold 24,000 shares of Cenovus Energy stock in a transaction dated Friday, April 5th. The stock was sold at an average price of C$29.06, for a total transaction of C$697,332.00. Insiders have sold a total of 87,000 shares of company stock worth $2,414,507 over the last ninety days. Company insiders own 31.50% of the company's stock.

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.