TD Securities Boosts Cenovus Energy (CVE) Price Target to C$14.00

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price boosted by equities researchers at TD Securities from C$13.50 to C$14.00 in a report issued on Friday. The brokerage currently has a “hold” rating on the stock. TD Securities’ price objective indicates a potential upside of 24.33% from the stock’s previous close.

CVE has been the subject of a number of other reports. CIBC boosted their price objective on Cenovus Energy from C$14.50 to C$16.00 in a report on Tuesday, November 14th. CSFB decreased their price objective on Cenovus Energy from C$20.00 to C$15.00 and set an “outperform” rating for the company in a report on Monday, August 21st. Citigroup boosted their price objective on Cenovus Energy from C$10.00 to C$13.00 in a report on Monday. AltaCorp Capital lowered Cenovus Energy from an “outperform” rating to a “sector perform” rating in a report on Thursday, November 9th. Finally, Canaccord Genuity boosted their price objective on Cenovus Energy from C$14.50 to C$15.00 in a report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. Cenovus Energy presently has an average rating of “Hold” and an average price target of C$15.36.

Shares of Cenovus Energy (CVE) traded down C$0.66 on Friday, reaching C$11.26. The company’s stock had a trading volume of 6,793,150 shares, compared to its average volume of 3,724,085. Cenovus Energy has a 1 year low of C$8.89 and a 1 year high of C$21.41.

In other news, Director Alex Pourbaix acquired 81,433 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were acquired at an average price of C$12.28 per share, for a total transaction of C$999,997.24. Also, Director Patrick Darold Daniel acquired 35,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was purchased at an average price of C$13.97 per share, for a total transaction of C$488,950.00. Insiders bought a total of 153,633 shares of company stock worth $1,967,303 in the last 90 days.

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