BMO Capital Markets Lowers Cenovus Energy Inc (CVE) Price Target to C$17.00

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.

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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

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