Cenovus Energy Inc. (TSE:CVE) Insider Cenovus Energy Inc. Buys 44,700 Shares

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) insider Cenovus Energy Inc. bought 44,700 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were purchased at an average cost of C$22.07 per share, with a total value of C$986,658.63.

Cenovus Energy Price Performance

CVE traded up C$0.16 on Friday, hitting C$22.24. 8,516,324 shares of the company’s stock were exchanged, compared to its average volume of 4,157,523. Cenovus Energy Inc. has a fifty-two week low of C$19.82 and a fifty-two week high of C$29.96. The company has a current ratio of 1.66, a quick ratio of 1.00 and a debt-to-equity ratio of 33.34. The firm has a 50-day moving average price of C$21.86 and a 200-day moving average price of C$23.93. The stock has a market cap 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 Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently commented on CVE. Raymond James boosted their price target on shares of Cenovus Energy from C$32.00 to C$33.00 in a report on Friday, December 13th. 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 for the company in a report on Friday, November 1st. TD Securities cut their price target on shares of Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating for the company in a report on Friday, December 13th. Jefferies Financial Group cut their price target on shares of Cenovus Energy from C$33.00 to C$32.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, BMO Capital Markets cut their price target on shares of Cenovus Energy from C$28.00 to C$25.00 in a report on Friday, December 13th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$31.20.

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.