Cenovus Energy (CVE) Receives a Rating Update from a Top Analyst

RBC Capital analyst Gregory Pardy maintained a Buy rating on Cenovus Energy today and set a price target of C$42.00.

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According to TipRanks, Pardy is a top 100 analyst with an average return of 23.5% and a 65.53% success rate. Pardy covers the Energy sector, focusing on stocks such as Imperial Oil, Canadian Natural, and Suncor Energy.

In addition to RBC Capital, Cenovus Energy also received a Buy from BMO Capital’s Randy Ollenberger in a report issued yesterday. However, on March 26, TipRanks – Anthropic reiterated a Hold rating on Cenovus Energy (NYSE: CVE).

Based on Cenovus Energy’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of C$10.88 billion and a net profit of C$934 million. In comparison, last year the company earned a revenue of C$11.75 billion and had a net profit of C$146 million

Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CVE in relation to earlier this year.