In a latest note to investors, a research analyst has provided a rating update for the Cenovus Energy (CVE). Analyst Michael Dunn from GMP FirstEnergy rated Cenovus Energy (CVE) a Buy on June 28, setting a C$15 price target.
According to TipRanks.com, Dunn is ranked 0 out of 5 stars with an average return of -11.8% and a 26.2% success rate. Dunn covers the Basic Materials sector, focusing on stocks such as PrairieSky Royalty Ltd, Parex Resources Inc, and Baytex Energy Corp.
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Cenovus Energy has an analyst consensus of Moderate Buy, with a price target consensus of C$14.75, implying a 26.4% upside from current levels. In a report issued on June 14, BMO Capital also maintained a Buy rating on the stock with a C$15 price target.
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Cenovus Energy’s market cap is currently C$14.2B and has a P/E ratio of 0. The company has a Price to Book ratio of 0.82.
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 Wednesday at C$11.67.
