Cenovus Energy (CVE) Price Target Raised to C$14.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective lifted by analysts at National Bank Financial from C$13.00 to C$14.00 in a research report issued on Tuesday. The firm presently has a “sector perform” rating on the stock. National Bank Financial’s target price would suggest a potential upside of 12.00% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. TD Securities increased their price target on Cenovus Energy from C$13.50 to C$14.00 and gave the company a “hold” rating in a research note on Friday, December 15th. CIBC increased their price target on Cenovus Energy from C$12.50 to C$14.50 in a research note on Monday, October 2nd. JPMorgan Chase & Co. increased their price target on Cenovus Energy from C$11.00 to C$11.50 in a research note on Thursday, September 14th. Barclays increased their price target on Cenovus Energy from C$15.00 to C$17.00 and gave the company an “overweight” rating in a research note on Tuesday, September 26th. Finally, Citigroup increased their price target on Cenovus Energy from C$10.00 to C$13.00 in a research note on Monday, December 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of C$15.43.

Shares of Cenovus Energy (CVE) traded down C$0.05 during trading on Tuesday, hitting C$12.50. The stock had a trading volume of 2,857,246 shares, compared to its average volume of 3,437,227. Cenovus Energy has a one year low of C$8.89 and a one year high of C$20.09. The company has a market cap of $15,360.00, a PE ratio of 4.37 and a beta of 0.26.

In other news, Director Rhonda Ivy Zygocki bought 7,200 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was purchased at an average cost of C$14.48 per share, for a total transaction of C$104,256.00. Also, insider Ivor Melvin Ruste acquired 30,000 shares of the stock in a transaction dated Monday, November 20th. The shares were bought at an average price of C$12.47 per share, with a total value of C$374,100.00. Over the last 90 days, insiders have purchased 153,633 shares of company stock valued at $1,967,303.

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