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

by · The Markets Daily

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

A number of other equities analysts have also recently weighed in on CVE. National Bankshares cut shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from C$28.00 to C$25.00 in a research report on Friday. Royal Bank of Canada reduced their price target on shares of Cenovus Energy from C$28.00 to C$26.00 in a research report on Tuesday, January 14th. Jefferies Financial Group reduced their price target on shares of Cenovus Energy from C$32.00 to C$30.00 in a research report on Thursday, January 30th. Raymond James increased their price target on shares of Cenovus Energy from C$32.00 to C$33.00 in a research report on Friday, December 13th. 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. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$30.00.

View Our Latest Report on Cenovus Energy

Cenovus Energy Stock Performance

TSE:CVE opened at C$20.75 on Thursday. The company has a debt-to-equity ratio of 33.59, a current ratio of 1.59 and a quick ratio of 1.00. The firm has a 50-day moving average of C$21.54 and a two-hundred day moving average of C$22.77. The stock has a market cap of C$37.80 billion, a P/E ratio of 10.23, a PEG ratio of 0.09 and a beta of 2.63. Cenovus Energy has a 1-year low of C$20.16 and a 1-year high of C$29.96.

Insider Buying and Selling

In other Cenovus Energy news, Senior Officer Jeffery George Lawson acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average price of C$21.17 per share, for a total transaction of C$105,832.00. Also, insider Cenovus Energy Inc. purchased 44,700 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was purchased at an average price of C$22.07 per share, for a total transaction of C$986,658.63. Insiders have acquired a total of 65,300 shares of company stock worth $1,427,360 over the last quarter. 32.03% of the stock is owned by company insiders.

Cenovus Energy Company Profile

(Get Free Report)

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.

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