Cenovus Energy (NYSE:CVE) Price Target Cut to $25.00 by Analysts at Royal Bank of Canada

Cenovus Energy (NYSE:CVE) (TSE:CVE) had its price objective decreased by stock analysts at Royal Bank of Canada from $26.00 to $25.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the oil and gas company’s stock. Royal Bank of Canada’s target price suggests a potential upside of 70.59% from the company’s current price.

A number of other research analysts have also recently issued reports on the stock. StockNews.com cut shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. National Bank Financial cut shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday. Finally, BMO Capital Markets lowered their price target on shares of Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.25.

Cenovus Energy Trading Down 4.2 %

Shares of NYSE:CVE traded down $0.64 on Friday, hitting $14.66. The company had a trading volume of 6,182,486 shares, compared to its average volume of 10,552,401. The firm’s 50-day simple moving average is $15.00 and its two-hundred day simple moving average is $16.32. Cenovus Energy has a 1 year low of $13.76 and a 1 year high of $21.90. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $26.73 billion, a price-to-earnings ratio of 10.11 and a beta of 1.99.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results on Thursday, February 20th. The oil and gas company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.27). Cenovus Energy had a return on equity of 12.88% and a net margin of 6.72%. The company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $11.08 billion. Equities analysts anticipate that Cenovus Energy will post 1.36 earnings per share for the current fiscal year.

Institutional Trading of Cenovus Energy

A number of institutional investors and hedge funds have recently bought and sold shares of CVE. Creative Planning increased its stake in Cenovus Energy by 9.9% during the 3rd quarter. Creative Planning now owns 321,808 shares of the oil and gas company’s stock valued at $5,384,000 after purchasing an additional 29,050 shares in the last quarter. Blue Trust Inc. increased its stake in Cenovus Energy by 640.3% during the 3rd quarter. Blue Trust Inc. now owns 3,065 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 2,651 shares in the last quarter. Signaturefd LLC increased its stake in Cenovus Energy by 9.3% during the 3rd quarter. Signaturefd LLC now owns 52,606 shares of the oil and gas company’s stock valued at $880,000 after purchasing an additional 4,479 shares in the last quarter. International Assets Investment Management LLC increased its stake in Cenovus Energy by 1,741.5% during the 3rd quarter. International Assets Investment Management LLC now owns 730,465 shares of the oil and gas company’s stock valued at $122,210,000 after purchasing an additional 690,798 shares in the last quarter. Finally, Mraz Amerine & Associates Inc. grew its stake in shares of Cenovus Energy by 147.9% in the third quarter. Mraz Amerine & Associates Inc. now owns 135,118 shares of the oil and gas company’s stock worth $2,261,000 after acquiring an additional 80,607 shares during the period. 51.19% of the stock is currently owned by institutional investors.

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.