National Bankshares Issues Pessimistic Forecast for Cenovus Energy (TSE:CVE) Stock Price

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective dropped by stock analysts at National Bankshares from C$31.00 to C$29.00 in a research report issued on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bankshares’ target price would indicate a potential upside of 40.03% from the stock’s previous close.

Several other brokerages have also recently issued reports on CVE. Jefferies Financial Group cut their price objective on Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Raymond James upped their price target on Cenovus Energy from C$32.00 to C$33.00 in a research report on Friday, December 13th. TD Securities decreased their price objective on shares of Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating for the company in a report on Friday, December 13th. Royal Bank of Canada dropped 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 report on Friday, November 1st. Finally, BMO Capital Markets reduced their price target on shares of Cenovus Energy from C$28.00 to C$25.00 in a research report on Friday, December 13th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Cenovus Energy currently has an average rating of “Buy” and a consensus price target of C$31.20.

Cenovus Energy Trading Up 0.2 %

TSE CVE opened at C$20.71 on Thursday. The company has a market capitalization of C$38.52 billion, a price-to-earnings ratio of 8.25, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63. The company has a debt-to-equity ratio of 33.34, a current ratio of 1.66 and a quick ratio of 1.00. Cenovus Energy has a 12 month low of C$19.82 and a 12 month high of C$29.96. The company’s fifty day moving average price is C$22.37 and its two-hundred day moving average price is C$24.37.

Insider Buying and Selling

In other Cenovus Energy news, Senior Officer Jeffery George Lawson purchased 4,600 shares of Cenovus Energy stock in a transaction on Friday, December 13th. The stock was bought at an average price of C$21.74 per share, for a total transaction of C$100,004.00. Insiders have bought a total of 9,600 shares of company stock valued at $211,699 in the last quarter. Company insiders own 32.03% of the company’s stock.

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.