Karamjit Singh Sandhar Buys 8,000 Shares of Cenovus Energy Inc. (TSE:CVE) Stock

Cenovus Energy Inc. (TSE:CVEGet Free Report) (NYSE:CVE) Senior Officer Karamjit Singh Sandhar bought 8,000 shares of Cenovus Energy stock in a transaction on Friday, June 7th. The stock was acquired at an average price of C$26.00 per share, with a total value of C$208,000.00.

Cenovus Energy Price Performance

CVE opened at C$25.31 on Friday. Cenovus Energy Inc. has a 12 month low of C$19.82 and a 12 month high of C$29.96. The company has a quick ratio of 1.00, a current ratio of 1.70 and a debt-to-equity ratio of 33.03. The stock has a market cap of C$47.33 billion, a P/E ratio of 10.16, a P/E/G ratio of 0.09 and a beta of 2.77. The company has a fifty day simple moving average of C$27.99 and a 200 day simple moving average of C$24.81.

Cenovus Energy (TSE:CVEGet Free Report) (NYSE:CVE) last issued its quarterly earnings data on Wednesday, May 1st. The company reported C$0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.47 by C$0.15. The company had revenue of C$13.40 billion during the quarter, compared to the consensus estimate of C$13.71 billion. Cenovus Energy had a net margin of 8.72% and a return on equity of 16.11%. On average, research analysts expect that Cenovus Energy Inc. will post 2.7840467 EPS for the current year.

Cenovus Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.18 per share. The ex-dividend date is Friday, June 14th. This represents a $0.72 annualized dividend and a dividend yield of 2.84%. Cenovus Energy’s dividend payout ratio is currently 29.72%.

Analysts Set New Price Targets

A number of brokerages have weighed in on CVE. Raymond James set a C$33.00 price target on Cenovus Energy and gave the stock an “outperform” rating in a research report on Wednesday, May 29th. CIBC lifted their target price on Cenovus Energy from C$31.00 to C$35.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. National Bankshares boosted their price target on shares of Cenovus Energy from C$29.00 to C$38.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Jefferies Financial Group increased their target price on shares of Cenovus Energy from C$28.00 to C$36.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Finally, Royal Bank of Canada boosted their target price on shares of Cenovus Energy from C$32.00 to C$33.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Cenovus Energy has a consensus rating of “Moderate Buy” and an average target price of C$33.50.

Read Our Latest Analysis on CVE

About Cenovus Energy

(Get Free Report)

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.

Recommended Stories

Insider Buying and Selling by Quarter for Cenovus Energy (TSE:CVE)

Receive News & Ratings for Cenovus Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cenovus Energy and related companies with MarketBeat.com's FREE daily email newsletter.