Smarter Analyst

Barclays Remains a Hold on Cenovus Energy (CVE)

Barclays analyst Christopher Tillett maintained a Hold rating on Cenovus Energy (CVE) on March 31 and set a price target of C$11.00. The company’s shares closed last Thursday at $7.87, close to its 52-week high of $8.57.

According to TipRanks.com, Tillett is a 1-star analyst with an average return of -0.1% and a 62.3% success rate. Tillett covers the Industrial Goods sector, focusing on stocks such as Noble Midstream Partners, Altus Midstream Company, and Equitrans Midstream.

Cenovus Energy has an analyst consensus of Moderate Buy, with a price target consensus of $9.31.

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Cenovus Energy’s market cap is currently $15.17B and has a P/E ratio of -5.20. The company has a Price to Book ratio of 1.35.

Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CVE in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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 Oil sands segment includes the development and production of bitumen in northeast Alberta including Foster Creek, Christina Lake and Narrows Lake as well as projects in the early stages of development. The Deep Basin segment includes includes land primarily in the Elmworth-Wapiti, Kaybob-Edson, and Clearwater operating areas. The Refining and Marketing segment provides transportation and selling of crude oil, antural gas and NGLS. The Corporate and Eliminations segment includes unrealized gains and losses recorded on derivative financial instruments, divestiture of assets, as well as other administrative, financing activities and research costs. The company was founded in 1881 and is headquartered in Calgary, Canada.