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

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) Senior Officer Karamjit Singh Sandhar purchased 6,000 shares of Cenovus Energy stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of C$17.97 per share, with a total value of C$107,808.00.

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

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

Cenovus Energy Stock Performance

TSE:CVE opened at C$18.13 on Friday. The company has a market capitalization of C$33.03 billion, a price-to-earnings ratio of 8.94, a PEG ratio of 0.09 and a beta of 2.63. The business has a 50 day moving average of C$21.19 and a 200 day moving average of C$22.34. The company has a debt-to-equity ratio of 33.59, a current ratio of 1.59 and a quick ratio of 1.00. Cenovus Energy Inc. has a 1-year low of C$17.42 and a 1-year high of C$29.96.

Cenovus Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.97%. Cenovus Energy’s dividend payout ratio (DPR) is 35.49%.

Wall Street Analyst Weigh In

CVE has been the topic of a number of recent analyst reports. National Bank Financial downgraded shares of 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 shares of Cenovus Energy from C$32.00 to C$33.00 in a research note on Friday, December 13th. Jefferies Financial Group cut their price target on shares of Cenovus Energy from C$32.00 to C$30.00 in a report on Thursday, January 30th. BMO Capital Markets decreased their price target on shares of Cenovus Energy from C$28.00 to C$25.00 in a report on Friday, December 13th. Finally, TD Securities dropped their price objective on Cenovus Energy from C$29.00 to C$28.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Cenovus Energy presently has a consensus 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.