Cenovus Energy (TSE:CVE) Price Target Lowered to C$29.00 at TD Securities

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target dropped by investment analysts at TD Securities from C$31.00 to C$29.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ price objective would suggest a potential upside of 33.83% from the stock’s previous close.

CVE has been the topic of several other research reports. 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 report on Monday, September 16th. BMO Capital Markets cut their price objective on Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. National Bankshares lowered their target price on Cenovus Energy from C$38.00 to C$31.00 in a research note on Friday, September 27th. Raymond James lowered their target price on Cenovus Energy from C$33.00 to C$32.00 in a research note on Tuesday, October 15th. Finally, Royal Bank of Canada lowered their target price on Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of C$31.50.

Cenovus Energy Price Performance

Cenovus Energy stock traded up C$0.36 during midday trading on Friday, hitting C$21.67. The company’s stock had a trading volume of 1,787,122 shares, compared to its average volume of 5,305,858. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 33.34. The stock’s 50-day moving average price is C$22.74 and its 200-day moving average price is C$24.66. Cenovus Energy has a 12 month low of C$19.82 and a 12 month high of C$29.96. The company has a market capitalization of C$40.31 billion, a PE ratio of 8.64, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63.

Insider Buying and Selling at Cenovus Energy

In other Cenovus Energy news, Senior Officer Geoffrey Murray purchased 3,200 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were bought at an average price of C$22.54 per share, with a total value of C$72,112.00. Also, Senior Officer Jeffery George Lawson bought 4,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average cost of C$22.50 per share, for a total transaction of C$90,000.00. Over the last quarter, insiders have purchased 7,700 shares of company stock valued at $173,232. 32.03% of the stock is currently owned by company insiders.

About Cenovus Energy

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.