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RBC Capital Stick to Their Buy Rating for Cenovus Energy Inc

Apr 13, 2021 09:49PM ET
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RBC Capital analyst Gregory Pardy maintained a Buy rating on Cenovus Energy (NYSE:CVE) Inc on Monday, setting a price target of C$12, which is approximately 25.68% above the present share price of $7.59.

Pardy expects Cenovus Energy Inc to post earnings per share (EPS) of -$0.12 for the second quarter of 2021.

The current consensus among 11 TipRanks analysts is for a Moderate Buy rating of shares in Cenovus Energy, with an average price target of $10.05.
The analysts price targets range from a high of $12.72 to a low of $7.95.

In its latest earnings report, released on 12/31/2020, the company reported a quarterly revenue of $3.57 billion and a net profit of -$409 million. The company's market cap is $15.31 billion.

According to TipRanks.com, RBC Capital analyst Gregory Pardy is currently ranked with 4 stars on a 0-5 stars ranking scale, with an average return of 7.3% and a 50.00% success rate.

Cenovus Energy, Inc. engages in gas and oil provisions. Its activities include development, production, and marketing of crude oil, natural gas liquids (NGLS), and natural gas in Canada. It operates through four segments: Oil Sands, Deep Basin, Refining & Marketing, and Corporate & Eliminations. The Oil sands segment includes the development and production of bitumen in northeast Alberta including Foster Creek, Christina Lake and Narrows Lake as well as projects in the early stages of development. The Deep Basin segment includes includes land primarily in the Elmworth-Wapiti, Kaybob-Edson, and Clearwater operating areas. The Refining and Marketing segment provides transportation and selling of crude oil, antural gas and NGLS. The Corporate and Eliminations segment includes unrealized gains and losses recorded on derivative financial instruments, divestiture of assets, as well as other administrative, financing activities and research costs. The company was founded in 1881 and is headquartered in Calgary, Canada.

RBC Capital Stick to Their Buy Rating for Cenovus Energy Inc
 

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