Cenovus Energy Inc. (TSE:CVE) Declares Quarterly Dividend of $0.18

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) declared a quarterly dividend on Friday, March 14th, TickerTech Dividends reports. Investors of record on Monday, March 31st will be given a dividend of 0.18 per share on Monday, March 31st. This represents a $0.72 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Friday, March 14th.

Cenovus Energy Stock Up 1.0 %

Cenovus Energy stock traded up C$0.19 during trading on Wednesday, reaching C$18.89. 1,302,338 shares of the company’s stock were exchanged, compared to its average volume of 5,259,833. Cenovus Energy has a 52-week low of C$17.42 and a 52-week high of C$29.96. The firm has a market cap of C$34.41 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 0.09 and a beta of 2.63. The company has a debt-to-equity ratio of 33.59, a quick ratio of 1.00 and a current ratio of 1.59. The company’s 50-day moving average is C$21.00 and its two-hundred day moving average is C$22.16.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CVE shares. Jefferies Financial Group lowered their target price on Cenovus Energy from C$32.00 to C$30.00 in a research note on Thursday, January 30th. Raymond James increased their price objective on shares of Cenovus Energy from C$32.00 to C$33.00 in a research report on Friday, December 13th. TD Securities reduced their target price on shares of Cenovus Energy from C$29.00 to C$28.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Royal Bank of Canada lowered their price target on shares of Cenovus Energy from C$28.00 to C$26.00 in a report on Tuesday, January 14th. Finally, BMO Capital Markets cut their price objective on shares of Cenovus Energy from C$28.00 to C$25.00 in a report on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$29.89.

Insider Buying and Selling at Cenovus Energy

In other Cenovus Energy news, Senior Officer Karamjit Singh Sandhar bought 6,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was purchased at an average price of C$17.97 per share, for a total transaction of C$107,808.00. Also, Senior Officer Jeffery George Lawson bought 5,000 shares of the company’s stock in a transaction on Friday, December 27th. The shares were acquired at an average cost of C$21.17 per share, for a total transaction of C$105,832.00. Insiders have purchased 32,050 shares of company stock worth $656,738 in the last ninety days. 32.03% of the stock is owned by insiders.

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.