Cenovus Energy (CVE) has received a rating update from a Wall Street analyst on April 23. Analyst Michael Dunn from GMP FirstEnergy remains bullish on the stock and has a C$17 price target.
According to TipRanks.com, Dunn has 0 stars on 0-5 star ranking scale with an average return of -5.4% and a 41.7% success rate. Dunn covers the Basic Materials sector, focusing on stocks such as Painted Pony Petroleum Ltd, PrairieSky Royalty Ltd, and Birchcliff Energy Ltd.
Currently, the analyst consensus on Cenovus Energy is a Moderate Buy with an average price target of C$14.44, implying a 5.5% upside from current levels. In a report released today, BMO Capital also reiterated a Buy rating on the stock with a C$16 price target.
.
Based on Cenovus Energy’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of C$4.55 billion and GAAP net loss of C$1.35 billion. In comparison, last year the company earned revenue of C$4.61 billion and had a GAAP net loss of C$905 million.
Cenovus Energy, Inc. engages in gas and oil provisions. Its activities include development, production, and marketing of crude oil, natural gas liquids (NGLS), and natural gas in Canada. It operates through four segments: Oil Sands, Deep Basin, Refining & Marketing, and Corporate & Eliminations.
The company’s shares closed on Thursday at C$13.69.
