John Soini Sells 10,275 Shares of Cenovus Energy (TSE:CVE) Stock

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) insider John Soini sold 10,275 shares of Cenovus Energy stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of C$35.13, for a total value of C$360,960.75. Following the transaction, the insider directly owned 2,114 shares in the company, valued at approximately C$74,264.82. The trade was a 82.94% decrease in their ownership of the stock.

Cenovus Energy Price Performance

TSE CVE traded up C$0.76 on Wednesday, reaching C$35.78. The company’s stock had a trading volume of 5,047,465 shares, compared to its average volume of 10,058,340. Cenovus Energy Inc. has a twelve month low of C$14.48 and a twelve month high of C$35.85. The company has a debt-to-equity ratio of 53.80, a quick ratio of 1.00 and a current ratio of 1.57. The stock has a market cap of C$67.24 billion, a PE ratio of 16.64, a PEG ratio of 0.09 and a beta of 0.63. The firm’s 50 day moving average is C$29.43 and its two-hundred day moving average is C$25.92.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its quarterly earnings data on Thursday, February 19th. The company reported C$0.50 earnings per share for the quarter. Cenovus Energy had a net margin of 7.91% and a return on equity of 13.16%. The company had revenue of C$10.88 billion during the quarter. As a group, sell-side analysts predict that Cenovus Energy Inc. will post 2.2619279 EPS for the current year.

Cenovus Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st will be given a $0.20 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.80 annualized dividend and a yield of 2.2%. Cenovus Energy’s payout ratio is 36.28%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Jefferies Financial Group increased their price objective on Cenovus Energy from C$30.00 to C$37.00 in a research report on Monday, March 16th. Royal Bank Of Canada boosted their target price on Cenovus Energy from C$31.00 to C$32.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. ATB Cormark Capital Markets upped their target price on Cenovus Energy from C$29.00 to C$34.00 in a report on Monday, February 23rd. TD Securities increased their price target on Cenovus Energy from C$28.00 to C$35.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Finally, Raymond James Financial lifted their price target on Cenovus Energy from C$30.00 to C$33.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 20th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$32.67.

Cenovus Energy Company Profile

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.