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

Cenovus Energy (TSE:CVE) (NYSE:CVE) was downgraded by stock analysts at National Bank Financial from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

Several other brokerages also recently weighed in on CVE. Raymond James boosted their price target on Cenovus Energy from C$32.00 to C$33.00 in a report on Friday, December 13th. Jefferies Financial Group cut their price target on Cenovus Energy from C$32.00 to C$30.00 in a report on Thursday, January 30th. BMO Capital Markets cut their price target on Cenovus Energy from C$28.00 to C$25.00 in a report on Friday, December 13th. TD Securities cut their price target on 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. Finally, Royal Bank of Canada cut their price target on Cenovus Energy from C$28.00 to C$26.00 in a report on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$30.00.

Cenovus Energy Trading Down 4.2 %

Shares of CVE opened at C$20.75 on Thursday. The stock has a fifty day moving average of C$21.54 and a two-hundred day moving average of C$22.77. The company has a debt-to-equity ratio of 33.59, a quick ratio of 1.00 and a current ratio of 1.59. The company has a market capitalization of C$37.80 billion, a PE ratio of 10.23, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63. Cenovus Energy has a fifty-two week low of C$20.16 and a fifty-two week high of C$29.96.

Insider Buying and Selling

In other Cenovus Energy news, insider Cenovus Energy Inc. purchased 44,700 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was purchased at an average cost of C$22.07 per share, with a total value of C$986,658.63. Also, Senior Officer Jeffery George Lawson purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average cost of C$21.17 per share, with a total value of C$105,832.00. In the last three months, insiders acquired 65,300 shares of company stock valued at $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.