In a report released today, Matt Murphy, CFA from Tudor Pickering maintained a Hold rating on Cenovus Energy (CVE), with a price target of C$7.00. The company’s shares closed last Monday at $5.79.
According to TipRanks.com, CFA is ranked #4494 out of 6709 analysts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cenovus Energy with a $4.08 average price target.
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Cenovus Energy’s market cap is currently $6.44B and has a P/E ratio of 19.10. The company has a Price to Book ratio of 0.56.
Based on the recent corporate insider activity of 35 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.
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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. 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.