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 reduced by BMO Capital Markets from C$20.00 to C$17.00 in a report issued on Friday, StockTargetPrices.com reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective would indicate a potential upside of 22.74% from the company’s previous close.

Several other equities research analysts have also recently commented on the stock. TD Securities raised shares of Cenovus Energy from a “hold” rating to a “buy” rating and dropped their target price for the stock from C$22.00 to C$21.00 in a research report on Friday, March 24th. Raymond James Financial, Inc. dropped their target price on shares of Cenovus Energy from C$23.00 to C$18.00 and set a “market perform” rating for the company in a research report on Thursday, March 30th. Canaccord Genuity reaffirmed a “hold” rating and issued a C$18.50 target price on shares of Cenovus Energy in a research report on Thursday, March 9th. AltaCorp Capital raised shares of Cenovus Energy from a “sector perform” rating to an “outperform” rating in a research report on Friday, February 17th. Finally, CIBC dropped their target price on shares of Cenovus Energy from C$25.00 to C$24.00 in a research report on Wednesday, January 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of C$20.82.

Analyst Recommendations for Cenovus Energy (TSE:CVE)

Cenovus Energy (TSE:CVE) traded up 1.191% on Friday, reaching $14.015. The company’s stock had a trading volume of 1,880,468 shares. The firm’s market cap is $11.68 billion. Cenovus Energy has a 12 month low of $13.77 and a 12 month high of $22.06. The firm’s 50 day moving average is $15.85 and its 200-day moving average is $18.53.

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In other news, insider Alan Craig Reid acquired 9,800 shares of Cenovus Energy stock in a transaction on Wednesday, April 5th. The stock was acquired at an average cost of C$15.06 per share, for a total transaction of C$147,588.00. Also, Director Richard Joseph Marcogliese acquired 5,000 shares of Cenovus Energy stock in a transaction on Monday, April 3rd. The shares were purchased at an average price of C$11.20 per share, with a total value of C$56,000.00. Over the last quarter, insiders purchased 18,400 shares of company stock valued at $256,868.

Cenovus Energy Company Profile

Cenovus Energy Inc is a Canada-based integrated oil company. The Company is engaged in the business of developing, producing and marketing crude oil, natural gas liquids (NGL) and natural gas. Its segments include Oil Sands, Conventional, Refining and Marketing, and Corporate and Eliminations. Its Oil Sands segment includes the development and production of bitumen and natural gas in northeast Alberta.

Stock Target Prices

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