Cenovus Energy (CVE) Given New C$13.00 Price Target at Citigroup

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price objective raised by stock analysts at Citigroup from C$10.00 to C$13.00 in a research report issued to clients and investors on Monday. Citigroup’s target price points to a potential upside of 7.00% from the company’s current price.

Other analysts have also issued research reports about the company. J P Morgan Chase & Co lifted their target price on Cenovus Energy from C$11.00 to C$11.50 in a report on Thursday, September 14th. Canaccord Genuity lifted their target price on Cenovus Energy from C$14.00 to C$14.50 in a report on Wednesday, September 6th. BMO Capital Markets lifted their target price on Cenovus Energy from C$12.00 to C$14.00 in a report on Friday, November 3rd. CIBC lifted their target price on Cenovus Energy from C$12.50 to C$14.50 in a report on Monday, October 2nd. Finally, TD Securities lifted their target price on Cenovus Energy from C$12.50 to C$13.50 and gave the stock a “hold” rating in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Cenovus Energy has a consensus rating of “Hold” and a consensus price target of C$15.32.

Cenovus Energy (TSE:CVE) traded down C$0.04 during trading on Monday, hitting C$12.15. The company’s stock had a trading volume of 2,446,022 shares, compared to its average volume of 3,717,677. Cenovus Energy has a twelve month low of C$8.89 and a twelve month high of C$22.06.

In related news, Director Alex Pourbaix bought 81,433 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were bought at an average cost of C$12.28 per share, for a total transaction of C$999,997.24. Also, Director Rhonda Ivy Zygocki acquired 7,200 shares of the stock in a transaction dated Wednesday, November 8th. The stock was acquired at an average price of C$14.48 per share, for a total transaction of C$104,256.00. Insiders have purchased 153,633 shares of company stock worth $1,967,303 over the last quarter.

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Cenovus Energy Company Profile

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