Cenovus Energy Inc (TSE:CVE) (NYSE:CVE) had its price objective decreased by stock analysts at BMO Capital Markets from C$20.00 to C$17.00 in a research note issued to investors on Tuesday, July 4th, StockTargetPrices.com reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ target price would suggest a potential upside of 62.37% from the company’s current price.
Other analysts have also recently issued research reports about the company. CIBC decreased their target price on Cenovus Energy from C$18.00 to C$13.00 in a research report on Wednesday, June 21st. Desjardins reduced their price objective on Cenovus Energy from C$20.00 to C$14.00 and set a “buy” rating for the company in a research report on Wednesday, June 21st. Royal Bank Of Canada reissued an “outperform” rating and set a C$22.00 price objective on shares of Cenovus Energy in a research report on Wednesday, June 21st. CSFB reissued an “outperform” rating and set a C$20.00 price objective on shares of Cenovus Energy in a research report on Friday, May 26th. Finally, TD Securities cut Cenovus Energy from a “buy” rating to a “hold” rating and reduced their price objective for the company from C$15.50 to C$11.50 in a research report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. Cenovus Energy presently has a consensus rating of “Buy” and a consensus target price of C$17.93.
Shares of Cenovus Energy (CVE) traded down 0.95% during mid-day trading on Tuesday, hitting $10.47. The company had a trading volume of 3,156,235 shares. The company has a market cap of $12.87 billion and a PE ratio of 3.52. The firm has a 50-day moving average of $9.75 and a 200-day moving average of $14.20. Cenovus Energy has a 12 month low of $8.89 and a 12 month high of $22.06.
TRADEMARK VIOLATION NOTICE: This news story was originally reported by Transcript Daily and is owned by of Transcript Daily. If you are reading this news story on another website, it was stolen and reposted in violation of international copyright laws. The correct version of this news story can be read at https://transcriptdaily.com/2017/07/31/bmo-capital-markets-lowers-cenovus-energy-inc-cve-price-target-to-c17-00-updated-updated-updated.html.
In other Cenovus Energy news, insider Harbir Singh Chhina acquired 20,000 shares of the company’s stock in a transaction dated Wednesday, May 3rd. The shares were acquired at an average cost of C$13.33 per share, for a total transaction of C$266,600.00. Also, insider Ivor Melvin Ruste acquired 10,000 shares of the company’s stock in a transaction dated Thursday, July 6th. The stock was acquired at an average price of C$9.16 per share, for a total transaction of C$91,600.00. Insiders bought 168,400 shares of company stock worth $2,159,104 over the last quarter.
About Cenovus Energy
Receive News & Ratings for Cenovus Energy Inc Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Cenovus Energy Inc and related companies with MarketBeat.com’s FREE daily email newsletter.