Cenovus Energy Inc. (TSE:CVE) Insider Cenovus Energy Inc. Acquires 44,700 Shares

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) insider Cenovus Energy Inc. acquired 44,700 shares of Cenovus Energy stock in a transaction dated Monday, December 2nd. The shares were purchased at an average price of C$22.07 per share, for a total transaction of C$986,658.63.

Cenovus Energy Stock Up 0.7 %

Shares of TSE:CVE opened at C$22.24 on Friday. The stock’s 50-day moving average is C$21.85 and its 200 day moving average is C$23.89. The company has a market cap of C$41.37 billion, a PE ratio of 8.86, a P/E/G ratio of 0.09 and a beta of 2.63. The company has a debt-to-equity ratio of 33.34, a current ratio of 1.66 and a quick ratio of 1.00. Cenovus Energy Inc. has a 1 year low of C$19.82 and a 1 year high of C$29.96.

Cenovus Energy Dividend Announcement

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

Wall Street Analyst Weigh In

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