John F. Soini Acquires 4,104 Shares of Cenovus Energy Inc. (TSE:CVE) Stock

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

Cenovus Energy Stock Performance

Shares of CVE opened at C$20.10 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.59 and a debt-to-equity ratio of 33.59. The business has a 50-day simple moving average of C$20.64 and a two-hundred day simple moving average of C$21.86. The stock has a market cap of C$36.61 billion, a price-to-earnings ratio of 9.91, a PEG ratio of 0.09 and a beta of 2.63. Cenovus Energy Inc. has a 52 week low of C$17.42 and a 52 week high of C$29.96.

Cenovus Energy Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. TD Securities lowered their target price on Cenovus Energy from C$29.00 to C$28.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Royal Bank of Canada lowered their target price on Cenovus Energy from C$28.00 to C$26.00 in a report on Tuesday, January 14th. National Bank Financial downgraded Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 20th. Raymond James increased their target price on Cenovus Energy from C$32.00 to C$33.00 in a report on Friday, December 13th. Finally, Jefferies Financial Group lowered their target price 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 issued a buy rating to the company. According to MarketBeat.com, the company 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.