Cenovus Energy (CVE) Given New C$16.00 Price Target at JPMorgan Chase & Co.

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Cenovus Energy (TSE:CVE) (NYSE:CVE) had its price target upped by equities researchers at JPMorgan Chase & Co. from C$15.00 to C$16.00 in a note issued to investors on Thursday, BayStreet.CA reports. JPMorgan Chase & Co.‘s price target suggests a potential upside of 16.96% from the stock’s previous close.

CVE has been the subject of several other research reports. AltaCorp Capital lowered Cenovus Energy from an “outperform” rating to a “sector perform” rating in a report on Monday, January 7th. National Bank Financial boosted their price target on Cenovus Energy from C$14.00 to C$14.50 and gave the company an “outperform” rating in a report on Thursday, February 14th. Canaccord Genuity cut their price target on Cenovus Energy from C$12.50 to C$12.00 in a report on Thursday, January 10th. CSFB reissued an “outperform” rating and set a C$15.00 price target on shares of Cenovus Energy in a report on Monday, January 28th. Finally, Raymond James cut their price target on Cenovus Energy from C$13.00 to C$12.00 and set a “market perform” rating for the company in a report on Thursday, February 14th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Cenovus Energy has an average rating of “Buy” and a consensus price target of C$15.29.

Shares of CVE traded down C$0.06 during trading hours on Thursday, hitting C$13.68. The stock had a trading volume of 1,577,606 shares, compared to its average volume of 4,222,534. The company has a debt-to-equity ratio of 52.46, a current ratio of 1.23 and a quick ratio of 0.67. Cenovus Energy has a 12 month low of C$8.74 and a 12 month high of C$14.84. The firm has a market capitalization of $17.13 billion and a P/E ratio of -6.30.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last issued its quarterly earnings data on Wednesday, February 13th. The company reported C($1.36) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C($0.21) by C($1.15). The company had revenue of C$4.55 billion during the quarter, compared to the consensus estimate of C$5.03 billion. Analysts expect that Cenovus Energy will post 0.801187824795843 EPS for the current fiscal year.

About Cenovus Energy

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake.

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Analyst Recommendations for Cenovus Energy (TSE:CVE)

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