After RBC Capital and Goldman Sachs gave Cenovus Energy Inc (NYSE: CVE) a Buy rating last month, the company received another Buy, this time from CIBC. Analyst Jon Morrison maintained a Buy rating on Cenovus Energy Inc today and set a price target of C$16.00. The company’s shares closed last Monday at $8.71.
According to TipRanks.com, Morrison is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -17.2% and a 30.5% success rate. Morrison covers the Basic Materials sector, focusing on stocks such as Athabasca Oil Corporation, Trican Well Service Ltd, and Imperial Oil Limited.
Currently, the analyst consensus on Cenovus Energy Inc is a Moderate Buy with an average price target of $12.25, which is a 46.2% upside from current levels. In a report issued on October 7, AltaCorp Captial also upgraded the stock to Buy.
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Cenovus Energy Inc’s market cap is currently $10.38B and has a P/E ratio of 50.09. The company has a Price to Book ratio of 0.71.
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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.
