Cenovus Energy Inc. (TSE:CVE) Director Michael John Crothers Acquires 500 Shares

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) Director Michael John Crothers purchased 500 shares of the business’s stock in a transaction on Friday, February 21st. The stock was purchased at an average cost of C$20.78 per share, for a total transaction of C$10,390.00.

Michael John Crothers also recently made the following trade(s):

• On Wednesday, December 18th, Michael John Crothers bought 500 shares of Cenovus Energy stock. The shares were acquired at an average price of C$21.15 per share, with a total value of C$10,575.00.

Cenovus Energy Stock Down 4.2 %

CVE stock opened at C$20.75 on Friday. The stock has a market capitalization of C$37.80 billion, a P/E ratio of 10.23, a P/E/G ratio of 0.09 and a beta of 2.63. The firm has a 50-day simple moving average of C$21.52 and a 200-day simple moving average of C$22.72. The company has a quick ratio of 1.00, a current ratio of 1.59 and a debt-to-equity ratio of 33.59. Cenovus Energy Inc. has a 52 week low of C$20.16 and a 52 week high of C$29.96.

Cenovus Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.47%. Cenovus Energy’s dividend payout ratio is currently 35.49%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. TD Securities decreased their target price on shares of Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Jefferies Financial Group decreased their target price on shares of Cenovus Energy from C$32.00 to C$30.00 in a research report on Thursday, January 30th. Raymond James boosted their target price on shares of Cenovus Energy from C$32.00 to C$33.00 in a research report on Friday, December 13th. BMO Capital Markets decreased their target price on shares of Cenovus Energy from C$28.00 to C$25.00 in a research report on Friday, December 13th. Finally, National Bank Financial downgraded shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Two 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, Cenovus Energy currently has a consensus rating of “Moderate Buy” and an average target price of C$30.00.

Cenovus Energy Company Profile

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.