Cenovus Energy (TSE:CVE) Stock Rating Lowered by National Bankshares

Cenovus Energy (TSE:CVE) (NYSE:CVE) was downgraded by National Bankshares from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Friday,BayStreet.CA reports. They currently have a C$25.00 price objective on the stock, down from their prior price objective of C$28.00. National Bankshares’ target price points to a potential upside of 20.48% from the stock’s current price.

A number of other equities analysts also recently issued reports on the company. BMO Capital Markets dropped their price target on Cenovus Energy from C$28.00 to C$25.00 in a research note on Friday, December 13th. Jefferies Financial Group lowered their price objective on Cenovus Energy from C$32.00 to C$30.00 in a research report on Thursday, January 30th. Royal Bank of Canada lowered their price objective on Cenovus Energy from C$28.00 to C$26.00 in a research report on Tuesday, January 14th. Raymond James lifted their target price on Cenovus Energy from C$32.00 to C$33.00 in a report on Friday, December 13th. Finally, TD Securities reduced their target price on Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$30.00.

Cenovus Energy Stock Down 4.2 %

Cenovus Energy stock opened at C$20.75 on Friday. The firm has a market cap of C$37.80 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 0.09 and a beta of 2.63. Cenovus Energy has a 12 month low of C$20.16 and a 12 month high of C$29.96. The company has a current ratio of 1.59, a quick ratio of 1.00 and a debt-to-equity ratio of 33.59. The stock has a fifty day simple moving average of C$21.52 and a two-hundred day simple moving average of C$22.72.

Insider Activity at Cenovus Energy

In related news, insider Cenovus Energy Inc. bought 44,700 shares of the stock in a transaction on Monday, December 2nd. The stock was bought at an average price of C$22.07 per share, for a total transaction of C$986,658.63. Also, Senior Officer Jeffery George Lawson bought 5,000 shares of the stock in a transaction on Friday, December 27th. The shares were bought at an average price of C$21.17 per share, with a total value of C$105,832.00. Over the last quarter, insiders bought 65,300 shares of company stock worth $1,427,360. Company insiders own 32.03% of the company’s stock.

About Cenovus Energy

Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 472 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds 6.7 billion boe of proven and probable reserves.