Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective cut by equities research analysts at Canaccord Genuity from C$15.00 to C$14.00 in a research report issued on Tuesday. Canaccord Genuity’s price target points to a potential upside of 25.45% from the company’s current price.
A number of other analysts have also recently issued reports on the stock. JPMorgan Chase & Co. raised shares of Cenovus Energy from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from C$16.00 to C$17.00 in a research note on Monday, September 10th. National Bank Financial reduced their price objective on shares of Cenovus Energy from C$21.00 to C$20.00 and set an “outperform” rating for the company in a research note on Friday, July 27th. CSFB increased their price objective on shares of Cenovus Energy from C$17.00 to C$19.00 in a research note on Wednesday, July 11th. Royal Bank of Canada reduced their price objective on shares of Cenovus Energy from C$18.00 to C$17.00 and set an “outperform” rating for the company in a research note on Friday, July 27th. Finally, Raymond James increased their price objective on shares of Cenovus Energy from C$14.00 to C$16.00 in a research note on Thursday, July 5th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of C$16.35.
CVE stock traded up C$0.15 during midday trading on Tuesday, reaching C$11.16. 2,057,095 shares of the company’s stock traded hands, compared to its average volume of 4,431,743. Cenovus Energy has a 52-week low of C$9.02 and a 52-week high of C$14.84.
Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings data on Thursday, July 26th. The company reported C($0.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C($0.01) by C($0.23). The firm had revenue of C$6.03 billion during the quarter, compared to analysts’ expectations of C$5.52 billion. Cenovus Energy had a negative return on equity of 16.53% and a negative net margin of 15.99%.
In related news, Director Keith A.J. Macphail bought 12,000 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The stock was bought at an average cost of C$11.99 per share, with a total value of C$143,880.00.
Cenovus Energy Company Profile
Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen and natural gas in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as projects in the early stages of development, such as Telephone Lake.
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