RBC Capital analyst Gregory Pardy maintained a Buy rating on Cenovus Energy (CVE – Research Report) on January 12 and set a price target of C$28.00. The company’s shares closed last Friday at $15.61.
According to TipRanks, Pardy is a 5-star analyst with an average return of 21.7% and a 59.51% success rate. Pardy covers the Energy sector, focusing on stocks such as Cenovus Energy, MEG Energy, and Baytex Energy.
Cenovus Energy has an analyst consensus of Strong Buy, with a price target consensus of $23.52, representing a 50.67% upside. In a report released on January 12, Scotiabank also maintained a Buy rating on the stock with a C$31.00 price target.
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The company has a one-year high of $21.23 and a one-year low of $14.71. Currently, Cenovus Energy has an average volume of 9.6M.
Based on the recent corporate insider activity of 44 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 (CVE) Company Description:
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.
Read More on CVE:
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