Cenovus Energy Inc. (TSE:CVE) Senior Officer Acquires C$107,808.00 in Stock

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) Senior Officer Karamjit Singh Sandhar purchased 6,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of C$17.97 per share, for a total transaction of C$107,808.00.

Karamjit Singh Sandhar also recently made the following trade(s):

• On Wednesday, February 26th, Karamjit Singh Sandhar acquired 5,000 shares of Cenovus Energy stock. The shares were bought at an average cost of C$20.05 per share, with a total value of C$100,250.00.

Cenovus Energy Stock Up 2.4 %

Shares of Cenovus Energy stock opened at C$18.13 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 company’s fifty day simple moving average is C$21.19 and its two-hundred day simple moving average is C$22.34. The company has a market cap of C$33.03 billion, a P/E ratio of 8.94, a PEG ratio of 0.09 and a beta of 2.63. Cenovus Energy Inc. has a 12-month low of C$17.42 and a 12-month high of C$29.96.

Cenovus Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 31st will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date is Friday, March 14th. Cenovus Energy’s payout ratio is currently 35.49%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CVE shares. TD Securities lowered their price target on shares of Cenovus Energy from C$29.00 to C$28.00 and set a “buy” rating for the company in a report on Monday, February 24th. BMO Capital Markets lowered their price objective on shares of Cenovus Energy from C$28.00 to C$25.00 in a research note on Friday, December 13th. Raymond James raised their target price on Cenovus Energy from C$32.00 to C$33.00 in a research note on Friday, December 13th. National Bank Financial downgraded Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 20th. Finally, Jefferies Financial Group dropped their price objective on Cenovus Energy from C$32.00 to C$30.00 in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Cenovus Energy presently has an average rating of “Moderate Buy” and a consensus target price 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.