Cenovus Energy (TSE:CVE) Given New C$29.00 Price Target at National Bankshares

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective reduced by equities research analysts at National Bankshares from C$31.00 to C$29.00 in a report released on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bankshares’ price objective suggests a potential upside of 40.16% from the stock’s current price.

Several other brokerages have also weighed in on CVE. Royal Bank of Canada decreased their target price on shares of Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. BMO Capital Markets decreased their price objective on Cenovus Energy from C$28.00 to C$25.00 in a report on Friday, December 13th. Jefferies Financial Group dropped their target price on Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating for the company in a report on Monday, September 16th. Raymond James boosted their price target on Cenovus Energy from C$32.00 to C$33.00 in a research note on Friday, December 13th. Finally, TD Securities dropped their price objective on Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$31.30.

Cenovus Energy Stock Performance

CVE stock traded down C$0.23 during midday trading on Thursday, hitting C$20.69. The stock had a trading volume of 1,475,523 shares, compared to its average volume of 5,326,457. Cenovus Energy has a 52 week low of C$19.82 and a 52 week high of C$29.96. The company has a current ratio of 1.66, a quick ratio of 1.00 and a debt-to-equity ratio of 33.34. The stock has a 50-day simple moving average of C$22.53 and a 200 day simple moving average of C$24.47. The firm has a market capitalization of C$38.48 billion, a price-to-earnings ratio of 8.24, a P/E/G ratio of 0.09 and a beta of 2.63.

Insider Activity

In other news, Senior Officer Jeffery George Lawson acquired 4,000 shares of Cenovus Energy stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average price of C$22.50 per share, with a total value of C$90,000.00. Insiders have bought 9,600 shares of company stock valued at $211,699 over the last 90 days. 32.03% of the stock is owned by company insiders.

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.