In a report released yesterday, from Desjardins maintained a Buy rating on Cenovus Energy, with a price target of C$50.00. The company’s shares closed yesterday at C$39.20.TipRanks Welcomes a New ETF – NYSE:RANK TipRanks has entered a new arena in the investing world, powering the index of an ETF based on its unique data now trading under the ticker RANK on the NYSE. RANK tracks the performance of the TipRanks US Momentum Analysts Index, a rules-based index of 50 large U.S. companies.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cenovus Energy with a C$46.33 average price target, which is a 18.19% upside from current levels. In a report released yesterday, Scotiabank also maintained a Buy rating on the stock with a C$49.00 price target.
Based on Cenovus Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$12.36 billion and a net profit of C$1.57 billion. In comparison, last year the company earned a revenue of C$13.3 billion and had a net profit of C$859 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.
