RBC Capital Markets Has Just Reaffirmed $24.00 Target Price Per Share on Cenovus Energy Inc (TSE:CVE) stock, While They’ve Also Reiterated Their Outperform Rating

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Cenovus Energy Inc (TSE:CVE) Rating Reaffirmed

In an interesting research report issued to investors and clients this morning, RBC Capital Markets reaffirmed their Outperform rating on Cenovus Energy Inc (TSE:CVE) shares. The target price per share may imply a possible upside of 36.67% from company’s closing share price.

From a total of 23 analysts covering Cenovus Energy Inc (TSE:CVE) stock, 12 rate it a ”Buy”, 3 a “Sell”, and 9 a ”Hold”. This means that 50% of the ratings are positive. The highest target price is $22.11 while the lowest target price is $11.79. The mean of all analyst targets is $17.24 with a 22.17% above today’s ($17.5) stock price. Cenovus Energy Inc was the topic of 10 analyst reports since July 31, 2015 according to the firm StockzIntelligence Inc. Goldman Sachs upgraded shares on December 1 to “Neutral” rating. Societe Generale maintained CVE stock in a recent report from August 21 with “Hold” rating.

Approximately 1.11M shares of stock traded hands. Cenovus Energy Inc (TSE:CVE) has declined 12.91% since May 8, 2015 and is downtrending. It has underperformed by 9.89% the S&P500.

RBC Capital Markets Has Just Reaffirmed $24.00 Target Price Per Share on Cenovus Energy Inc (TSE:CVE) stock, While They’ve Also Reiterated Their Outperform Rating

Cenovus Energy Inc. is a Canadian integrated oil company. The company has a market cap of $15.17 billion. The Firm is engaged in the business of developing, producing and marketing crude oil, natural gas liquids and natural gas in Canada with refining activities in the United States. It has 21.02 P/E ratio.

According to Zacks Investment Research, “Cenovus Energy is an integrated oil company headquartered in Calgary, Alberta. The Company’s operations include their growing enhanced oil projects and established natural gas and crude oil production in Alberta and Saskatchewan. The Company has four top-quality enhanced oil projects: Foster Creek, Christina Lake, Pelican Lake and Weyburn. Foster Creek, Christina Lake and Pelican Lake are located in northeast Alberta, and Weyburn is in Saskatchewan. The Company also has ownership interest in two high-quality refineries in Illinois and Texas. Cenovus Energy’s ongoing objective is to advance technologies that reduce the amount of water, steam, natural gas and electricity used in their operations and to decrease surface land disturbance.” Get a free copy of the Zacks research report on Cenovus Energy Inc (CVE).

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