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Royal Bank of Canada raises Cenovus Energy (TSE:CVE) price target to C$33.00


Cenovus Energy (TSE:CVE – Get a Free Report) (NYSE:CVE) The price target was raised by investment analysts at Royal Bank of Canada from C$32.00 to C$33.00 in a research note issued to investors on Thursday, BayStreet.CA reported. The brokerage currently has an ‘outperform’ rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 17.73% from the company’s current share price.

Several other research analysts have also recently commented on CVE. JPMorgan Chase & Co. lowered his target price on shares of Cenovus Energy from C$35.00 to C$34.00 in a report on Thursday, January 11. CIBC raised their price target on Cenovus Energy from C$31.00 to C$35.00 and gave the company an “outperform” rating in a research report on Monday, April 22. Desjardins raised his price target on shares of Cenovus Energy from C$29.50 to C$31.50 and gave the company a “buy” rating in a research note on Tuesday, April 23. Scotiabank lowered their target price on shares of 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. Finally, National Bankshares raised their price target on shares of Cenovus Energy from C$29.00 to C$38.00 and gave the company an “outperform” rating in a report on Friday, April 19. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.19.

Read our latest research report on Cenovus Energy

Cenovus energy stock performance

TSE:CVE opened at C$28.03 on Thursday. The stock has a 50-day moving average of $26.88 and a 200-day moving average of $24.52. The stock has a market cap of C$52.42 billion, a price-to-earnings ratio of 13.22, a price-to-earnings ratio of 0.09 and a beta of 2.78. Cenovus Energy has a 12-month low of €19.82 and a 12-month high of €29.96. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 34.64.

Cenovus Energy (TSE:CVE – Get Free Report) (NYSE:CVE) last reported its quarterly earnings data on Thursday, February 15. The company reported earnings per share of €0.39 for the quarter, beating analysts’ consensus expectations of €0.33 by €0.06. Cenovus Energy had a net margin of 7.87% and a return on equity of 14.60%. The company had revenue of C$13.13 billion during the quarter, compared to analyst estimates of C$13.06 billion. During the same period last year, the company posted earnings per share of $0.39. Equities research analysts predict that Cenovus Energy will post earnings per share of 2.6887232 for the current fiscal year.

Insider transactions at Cenovus Energy

In other news, Senior Officer Andrew Dahlin sold 25,000 shares of the company’s stock in a transaction on Wednesday, March 20. The shares were sold at an average price of C$25.99, for a total transaction of C$649,657.50. In related news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the company’s stock in a transaction dated Monday, April 8th. The shares sold at an average price of C$29.21, for a total value of C$525,835.80. Also, Senior Officer Andrew Dahlin sold 25,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares sold at an average price of C$25.99, for a total transaction of C$649,657.50. In the last three months, insiders have sold 87,000 company shares worth $2,414,507. 31.50% of the shares are currently owned by company insiders.

Cenovus Energy Company Profile

(Get a free report)

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports and sells crude oil, natural gas and refined petroleum products in Canada and internationally. The company operates through the Oil Sands, Conventional, Offshore, Canadian Refining and US Refining segments.

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Analyst recommendations for Cenovus Energy (TSE:CVE)



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