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. acquired 44,700 shares of Cenovus Energy stock in a transaction that occurred on Monday, December 2nd. The stock was bought 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 %

CVE traded up C$0.16 on Friday, reaching C$22.24. The company’s stock had a trading volume of 8,516,324 shares, compared to its average volume of 4,157,523. The stock has a 50 day moving average of C$21.86 and a two-hundred day moving average of C$23.93. 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 company has a market capitalization of C$41.37 billion, a price-to-earnings ratio of 8.86, a P/E/G ratio of 0.09 and a beta of 2.63. Cenovus Energy Inc. has a fifty-two week low of C$19.82 and a fifty-two week high of C$29.96.

Cenovus Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.24%. The ex-dividend date was Friday, December 13th. Cenovus Energy’s payout ratio is currently 28.69%.

Wall Street Analyst Weigh In

CVE has been the topic of several research analyst reports. Jefferies Financial Group reduced their price objective 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. Royal Bank of Canada cut 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 note on Friday, November 1st. TD Securities cut their target price on shares of Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. BMO Capital Markets cut their target price on shares of Cenovus Energy from C$28.00 to C$25.00 in a research note on Friday, December 13th. Finally, National Bankshares cut their target price on shares of 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. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$31.20.

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.