Michael John Crothers Purchases 500 Shares of Cenovus Energy Inc. (TSE:CVE) Stock

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) Director Michael John Crothers bought 500 shares of the stock in a transaction on Friday, February 21st. The shares were acquired at an average cost of C$20.78 per share, for a total transaction of C$10,390.00.

Michael John Crothers also recently made the following trade(s):

• On Wednesday, December 18th, Michael John Crothers bought 500 shares of Cenovus Energy stock. The stock was purchased at an average price of C$21.15 per share, for a total transaction of C$10,575.00.

Cenovus Energy Stock Down 3.3 %

Shares of TSE CVE traded down C$0.72 during mid-day trading on Friday, reaching C$20.93. 2,716,891 shares of the company’s stock were exchanged, compared to its average volume of 4,824,899. Cenovus Energy Inc. has a twelve month low of C$20.16 and a twelve month high of C$29.96. The company has a current ratio of 1.59, a quick ratio of 1.00 and a debt-to-equity ratio of 33.59. The firm has a market capitalization of C$38.13 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 0.09 and a beta of 2.63. The business has a fifty day simple moving average of C$21.54 and a 200 day simple moving average of C$22.77.

Cenovus Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend was Friday, December 13th. Cenovus Energy’s dividend payout ratio is presently 35.49%.

Analysts Set New Price Targets

Several research firms recently issued reports on CVE. TD Securities reduced their price objective on shares of Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Royal Bank of Canada decreased their price target on Cenovus Energy from C$28.00 to C$26.00 in a research note on Tuesday, January 14th. Jefferies Financial Group cut their price objective on Cenovus Energy from C$32.00 to C$30.00 in a research note on Thursday, January 30th. Raymond James increased their price target on Cenovus Energy from C$32.00 to C$33.00 in a report on Friday, December 13th. Finally, BMO Capital Markets reduced their price objective on shares of Cenovus Energy from C$28.00 to C$25.00 in a research note on Friday, December 13th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$30.33.

About Cenovus Energy

Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 472 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds 6.7 billion boe of proven and probable reserves.