Royal Bank of Canada Boosts Cenovus Energy (TSE:CVE) Price Target to C$33.00

Cenovus Energy (TSE:CVE - Get Free Report) NYSE: CVE had its price target increased by equities research analysts at Royal Bank of Canada from C$32.00 to C$33.00 in a note issued to investors on Thursday, BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Royal Bank of Canada's target price would suggest a potential upside of 17.15% from the company's previous close.

Other equities analysts have also issued reports about the company. Jefferies Financial Group increased their price objective 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. Scotiabank decreased their price target on Cenovus Energy from C$31.00 to C$28.00 and set an "outperform" rating for the company in a research note on Tuesday, January 16th. National Bankshares lifted their price objective on shares of Cenovus Energy from C$29.00 to C$38.00 and gave the company an "outperform" rating in a research note on Friday, April 19th. TD Securities upped their price objective on shares of Cenovus Energy from C$30.00 to C$32.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Desjardins boosted their target price on Cenovus Energy from C$29.50 to C$31.50 and gave the stock a "buy" rating in a report on Tuesday, April 23rd. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$33.19.

Cenovus Energy Stock Performance

Shares of CVE stock traded up C$0.18 on Thursday, hitting C$28.17. 3,639,925 shares of the stock traded hands, compared to its average volume of 4,626,589. The company has a market capitalization of C$52.68 billion, a PE ratio of 13.29, 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's fifty day moving average is C$26.79 and its 200 day moving average is C$24.52. The company has a debt-to-equity ratio of 34.64, a current ratio of 1.56 and a quick ratio of 1.00.

Cenovus Energy (TSE:CVE - Get Free Report) NYSE: CVE last released its quarterly earnings data on Thursday, February 15th. The company reported C$0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm posted $0.39 EPS. On average, equities research analysts predict that Cenovus Energy will post 2.6887232 earnings per share for the current fiscal year.

Insider Activity

In related news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the firm's stock in a transaction on Monday, April 8th. The stock was sold at an average price of C$29.21, for a total transaction of C$525,835.80. In related news, Senior Officer Jonathan Michael Mckenzie purchased 50,000 shares of the business's stock in a transaction dated Friday, February 16th. The shares were bought at an average price of C$23.49 per share, with a total value of C$1,174,500.00. Also, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the 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. Over the last 90 days, insiders sold 87,000 shares of company stock worth $2,414,507. 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.