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

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) Director Michael John Crothers purchased 500 shares of the stock in a transaction dated Friday, February 21st. The shares were 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 acquired 500 shares of Cenovus Energy stock. The stock was bought at an average price of C$21.15 per share, with a total value of C$10,575.00.

Cenovus Energy Stock Performance

Shares of TSE:CVE opened at C$20.75 on Friday. The firm has a market cap of C$37.80 billion, a PE ratio of 10.23, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63. The firm’s 50 day simple moving average is C$21.52 and its 200-day simple moving average is C$22.72. Cenovus Energy Inc. has a one year low of C$20.16 and a one year high of C$29.96. The company has a debt-to-equity ratio of 33.59, a quick ratio of 1.00 and a current ratio of 1.59.

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 given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date was Friday, December 13th. Cenovus Energy’s dividend payout ratio (DPR) is presently 35.49%.

Analyst Ratings Changes

CVE has been the subject of several analyst reports. National Bankshares lowered Cenovus Energy from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from C$28.00 to C$25.00 in a research note on Friday. National Bank Financial lowered Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday. BMO Capital Markets cut their price objective on Cenovus Energy from C$28.00 to C$25.00 in a research report on Friday, December 13th. Jefferies Financial Group lowered their price target on shares of Cenovus Energy from C$32.00 to C$30.00 in a report on Thursday, January 30th. Finally, Royal Bank of Canada decreased their price objective on shares of Cenovus Energy from C$28.00 to C$26.00 in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Cenovus Energy currently has an average rating of “Moderate Buy” and a consensus price target of C$30.00.

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.