Cenovus Energy Inc (TSE:CVE) (NYSE:CVE) had its price objective raised by stock analysts at Raymond James Financial, Inc. to C$9.00 in a report issued on Friday. The brokerage presently has an “underperform” rating on the stock. Raymond James Financial, Inc.’s price target would indicate a potential downside of 14.85% from the company’s previous close.
Other equities analysts have also recently issued research reports about the stock. CIBC dropped their target price on shares of Cenovus Energy from C$18.00 to C$13.00 in a research report on Wednesday, June 21st. BMO Capital Markets lowered their price target on shares of Cenovus Energy from C$20.00 to C$17.00 and set a “market perform” rating on the stock in a report on Tuesday, July 4th. Desjardins lowered their price target on shares of Cenovus Energy from C$20.00 to C$14.00 and set a “buy” rating on the stock in a report on Wednesday, June 21st. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a C$22.00 price target on shares of Cenovus Energy in a report on Wednesday, June 21st. Finally, TD Securities lowered their price target on shares of Cenovus Energy from C$21.00 to C$20.00 and set a “buy” rating on the stock in a report on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of C$17.93.
Shares of Cenovus Energy (CVE) opened at 10.57 on Friday. Cenovus Energy has a 1-year low of $8.89 and a 1-year high of $22.06. The company has a market cap of $11.77 billion and a price-to-earnings ratio of 3.55. The firm has a 50-day moving average price of $9.75 and a 200 day moving average price of $14.20.
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In other Cenovus Energy news, insider Ivor Melvin Ruste acquired 10,000 shares of Cenovus Energy stock in a transaction that occurred on Thursday, July 6th. The stock was acquired at an average cost of C$9.16 per share, for a total transaction of C$91,600.00. Also, Director Richard Joseph Marcogliese acquired 8,800 shares of Cenovus Energy stock in a transaction that occurred on Tuesday, June 6th. The stock was acquired at an average price of C$8.56 per share, with a total value of C$75,328.00. Insiders purchased a total of 213,400 shares of company stock worth $2,769,104 in the last ninety days.
Cenovus Energy Company Profile
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