Cenovus Energy Inc. Purchases 44,700 Shares of Cenovus Energy Inc. (TSE:CVE) Stock

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) insider Cenovus Energy Inc. bought 44,700 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were acquired at an average price of C$22.07 per share, with a total value of C$986,658.63.

Cenovus Energy Stock Performance

TSE:CVE opened at C$22.24 on Friday. Cenovus Energy Inc. has a twelve month low of C$19.82 and a twelve month high of C$29.96. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 33.34. The stock has a market cap of C$41.37 billion, a P/E ratio of 8.86, a PEG ratio of 0.09 and a beta of 2.63. The business’s 50-day moving average price is C$21.85 and its two-hundred day moving average price is C$23.89.

Cenovus Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were given a dividend of $0.18 per share. The ex-dividend date was Friday, December 13th. This represents a $0.72 annualized dividend and a yield of 3.24%. Cenovus Energy’s payout ratio is presently 28.69%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. National Bankshares cut their price objective on shares of Cenovus Energy from C$31.00 to C$29.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Jefferies Financial Group reduced their price target on Cenovus Energy from C$33.00 to C$32.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Royal Bank of Canada dropped their price objective on Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. BMO Capital Markets reduced their target price on Cenovus Energy from C$28.00 to C$25.00 in a report on Friday, December 13th. Finally, TD Securities lowered their price target on shares of Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, Cenovus Energy presently has a consensus rating of “Buy” and an average price target of C$30.89.

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.