Insider Buying: Cenovus Energy Inc. (TSE:CVE) Senior Officer Acquires C$79,945.92 in Stock

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) Senior Officer John F. Soini purchased 4,104 shares of Cenovus Energy stock in a transaction that occurred on Tuesday, March 18th. The stock was purchased at an average cost of C$19.48 per share, for a total transaction of C$79,945.92.

Cenovus Energy Trading Up 1.1 %

Cenovus Energy stock opened at C$20.10 on Friday. 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 business’s fifty day simple moving average is C$20.64 and its two-hundred day simple moving average is C$21.86. Cenovus Energy Inc. has a 12 month low of C$17.42 and a 12 month high of C$29.96. The company has a market capitalization of C$36.61 billion, a price-to-earnings ratio of 9.91, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63.

Cenovus Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Friday, March 14th. Cenovus Energy’s payout ratio is currently 35.49%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CVE. Royal Bank of Canada reduced their price target on Cenovus Energy from C$28.00 to C$26.00 in a research note on Tuesday, January 14th. National Bank Financial cut Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 20th. BMO Capital Markets reduced their price target on Cenovus Energy from C$28.00 to C$25.00 in a research note on Friday, December 13th. National Bankshares cut Cenovus Energy from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from C$28.00 to C$25.00 in a research note on Friday, February 21st. Finally, TD Securities reduced their price target on Cenovus Energy from C$29.00 to C$28.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$29.89.

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.