Cenovus Energy (NYSE:CVE) PT Raised to C$20.00 at Scotiabank

Cenovus Energy (NYSE:CVE) (TSE:CVE) had its target price lifted by stock analysts at Scotiabank from C$19.00 to C$20.00 in a report released on Thursday, The Fly reports.

CVE has been the topic of several other research reports. Morgan Stanley began coverage on Cenovus Energy in a report on Thursday, October 7th. They issued an “overweight” rating and a $18.00 target price on the stock. Credit Suisse Group upped their price objective on shares of Cenovus Energy from C$18.00 to C$20.00 and gave the company an “outperform” rating in a research note on Monday, November 8th. BMO Capital Markets restated a “buy” rating on shares of Cenovus Energy in a research note on Monday, September 27th. TheStreet upgraded shares of Cenovus Energy from a “d+” rating to a “c” rating in a research note on Monday, October 11th. Finally, Zacks Investment Research downgraded shares of Cenovus Energy from a “hold” rating to a “strong sell” rating and set a $8.50 price objective for the company. in a research note on Wednesday, September 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Cenovus Energy currently has a consensus rating of “Buy” and a consensus price target of $17.25.

NYSE:CVE opened at $14.85 on Thursday. The firm has a market capitalization of $29.83 billion, a PE ratio of 53.04 and a beta of 3.00. The business’s fifty day moving average price is $12.57 and its 200 day moving average price is $10.50. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.34 and a quick ratio of 0.87. Cenovus Energy has a 12 month low of $5.56 and a 12 month high of $14.96.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results on Tuesday, November 2nd. The oil and gas company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.09). The business had revenue of $10.67 billion during the quarter, compared to analysts’ expectations of $11.74 billion. Cenovus Energy had a net margin of 2.29% and a return on equity of 2.17%. During the same period last year, the company earned ($0.28) EPS. As a group, equities analysts anticipate that Cenovus Energy will post 0.75 EPS for the current year.

A number of large investors have recently made changes to their positions in the stock. Gateway Investment Advisers LLC lifted its position in Cenovus Energy by 4.5% in the fourth quarter. Gateway Investment Advisers LLC now owns 36,442 shares of the oil and gas company’s stock valued at $448,000 after purchasing an additional 1,579 shares during the period. Stratos Wealth Partners LTD. lifted its position in Cenovus Energy by 0.7% in the fourth quarter. Stratos Wealth Partners LTD. now owns 115,735 shares of the oil and gas company’s stock valued at $1,421,000 after purchasing an additional 835 shares during the period. Pacifica Partners Inc. lifted its position in Cenovus Energy by 18,232.1% in the fourth quarter. Pacifica Partners Inc. now owns 128,325 shares of the oil and gas company’s stock valued at $1,760,000 after purchasing an additional 127,625 shares during the period. Harbour Capital Advisors LLC purchased a new position in Cenovus Energy in the fourth quarter valued at about $368,000. Finally, First Hawaiian Bank purchased a new position in Cenovus Energy in the fourth quarter valued at about $133,000. Hedge funds and other institutional investors own 46.86% of the company’s stock.

About Cenovus Energy

Cenovus Energy, Inc engages in provision of gas and oil. Its activities include development, production, and marketing of crude oil, natural gas liquids (NGLS), and natural gas in Canada. The firm operates through four segments: Oil Sands, Conventional, Refining & Marketing, and Corporate & Eliminations.

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