Cenovus Energy (TSE:CVE) Price Target Increased to C$14.00 by Analysts at National Bank Financial

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price increased by equities researchers at National Bank Financial from C$13.00 to C$14.00 in a research report issued on Tuesday, January 9th. The brokerage currently has a “sector perform” rating on the stock. National Bank Financial’s target price suggests a potential upside of 7.36% from the stock’s previous close.

CVE has been the subject of several other research reports. AltaCorp Capital downgraded Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research report on Thursday, November 9th. CIBC increased their price target on Cenovus Energy from C$14.50 to C$16.00 in a report on Tuesday, November 14th. TD Securities increased their price target on Cenovus Energy from C$12.50 to C$13.50 and gave the company a “hold” rating in a report on Friday, November 3rd. BMO Capital Markets increased their price target on Cenovus Energy from C$12.00 to C$14.00 in a report on Friday, November 3rd. Finally, JPMorgan Chase & Co. upped their price objective on Cenovus Energy from C$12.50 to C$14.00 in a research note on Friday, November 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of C$15.40.

Cenovus Energy (TSE CVE) opened at C$13.04 on Tuesday. The stock has a market capitalization of $16,020.00, a price-to-earnings ratio of 4.56 and a beta of 0.26. Cenovus Energy has a 1-year low of C$8.89 and a 1-year high of C$19.70.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its quarterly earnings results on Thursday, November 2nd. The company reported C$0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$0.09 by C$0.14. Cenovus Energy had a return on equity of 5.90% and a net margin of 6.57%.

In other Cenovus Energy news, Director Alex Pourbaix bought 81,433 shares of Cenovus Energy stock in a transaction dated Tuesday, November 21st. The stock was bought at an average price of C$12.28 per share, for a total transaction of C$999,997.24. Also, Director Rhonda Ivy Zygocki bought 7,200 shares of Cenovus Energy stock in a transaction dated Wednesday, November 8th. The stock was acquired at an average price of C$14.48 per share, with a total value of C$104,256.00. Over the last three months, insiders have bought 153,633 shares of company stock valued at $1,967,303.

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About Cenovus Energy

Cenovus Energy Inc is a Canada-based integrated oil company. It operates in the business of developing, producing and marketing crude oil, Natural Gas Liquids (NGLs) and natural gas in Canada. The Company also conducts marketing activities and owns refining interests in the United States (U.S.). Its segments include: Oil Sands, which includes the development and production of bitumen and natural gas in northeast Alberta; Conventional, which includes the development and production of conventional crude oil, NGLs and natural gas in Alberta and Saskatchewan, including the heavy oil assets at Pelican Lake, the carbon dioxide (CO2) enhanced oil recovery (EOR) project at Weyburn and emerging tight oil opportunities; Refining and Marketing, which includes transporting and selling crude oil and natural gas and joint ownership of refineries in the U.S., as well as Corporate and Eliminations.

Analyst Recommendations for Cenovus Energy (TSE:CVE)

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