Raymond James Sticks to Its Buy Rating for Cenovus Energy (CVE)
In a report released today, Luke Davis from Raymond James maintained a Buy rating on Cenovus Energy, with a price target of C$33.00.
President's Day Sale - 70% Off
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Davis covers the Energy sector, focusing on stocks such as Cenovus Energy, Precision Drilling, and Paramount Resources. According to TipRanks, Davis has an average return of 24.7% and a 64.00% success rate on recommended stocks.
In addition to Raymond James, Cenovus Energy also received a Buy from BMO Capital’s Randy Ollenberger in a report issued today. However, on February 4, TipRanks – xAI downgraded Cenovus Energy (NYSE: CVE) to a Hold.
Based on Cenovus Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$13.2 billion and a net profit of C$1.29 billion. In comparison, last year the company earned a revenue of C$14.25 billion and had a net profit of C$820 million
Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CVE in relation to earlier this year.
Read More on CVE:
Disclaimer & DisclosureReport an Issue
- Cenovus Energy price target raised to C$32 from C$31 at RBC Capital
- Cenovus Energy price target raised to C$35 from C$28 at TD Securities
- Cenovus Energy price target raised to C$35 from C$28 at TD Cowen
- Cenovus Energy price target raised to C$35 from C$29 at BMO Capital
- Cenovus Energy: Robust Cash Generation, Strong Project Execution, and Strategic Growth Underpin Buy Rating
