Cenovus Energy Inc (CVE) Insider Alan Craig Reid Purchases 4,100 Shares
Cenovus Energy Inc (TSE:CVE) (NYSE:CVE) insider Alan Craig Reid acquired 4,100 shares of the firm’s stock in a transaction dated Friday, June 15th. The stock was bought at an average price of C$12.21 per share, with a total value of C$50,061.00.
Shares of Cenovus Energy opened at C$12.14 on Monday, according to Marketbeat. Cenovus Energy Inc has a fifty-two week low of C$8.89 and a fifty-two week high of C$14.65.
Cenovus Energy (TSE:CVE) (NYSE:CVE) last issued its quarterly earnings results on Wednesday, April 25th. The company reported C($0.61) EPS for the quarter, missing analysts’ consensus estimates of C($0.16) by C($0.45). The business had revenue of C$4.70 billion during the quarter, compared to analysts’ expectations of C$4.89 billion. Cenovus Energy had a negative net margin of 15.99% and a negative return on equity of 16.53%.
Several equities analysts have recently issued reports on the company. National Bank Financial upgraded Cenovus Energy from a “sector perform overweight” rating to an “outperform overweight” rating and lifted their price objective for the company from C$12.00 to C$17.00 in a research note on Thursday, May 31st. Raymond James upgraded Cenovus Energy from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from C$10.00 to C$14.00 in a research note on Tuesday, April 24th. Canaccord Genuity cut their target price on Cenovus Energy from C$16.00 to C$14.50 in a research report on Wednesday, April 11th. BMO Capital Markets raised Cenovus Energy from a “market perform” rating to an “outperform” rating and raised their target price for the stock from C$15.00 to C$17.00 in a research report on Thursday, May 17th. Finally, Citigroup raised their target price on Cenovus Energy from C$11.00 to C$15.00 in a research report on Wednesday, May 23rd. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Cenovus Energy has a consensus rating of “Buy” and a consensus price target of C$16.21.
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 and natural gas in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as projects in the early stages of development, such as Telephone Lake.
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