Key Points
- Director Michael John Crothers purchased 2,000 shares on December 15 at an average of C$24.23 per share (totaling C$48,460.00), increasing his stake to 8,000 shares — a 33.33% rise in his position.
- The company announced a quarterly dividend of C$0.20 per share (C$0.80 annualized, ~3.3% yield) with an ex-dividend date of December 15 and payment on December 31.
- Wall Street sentiment is positive with a consensus "Buy" rating and an average target price of C$29.59, with several analysts recently raising targets into the C$28–33.50 range.
Cenovus Energy Inc. (TSE:CVE - Get Free Report) (NYSE:CVE) Director Michael John Crothers purchased 2,000 shares of the firm's stock in a transaction on Monday, December 15th. The stock was acquired at an average price of C$24.23 per share, with a total value of C$48,460.00. Following the completion of the transaction, the director owned 8,000 shares in the company, valued at approximately C$193,840. This trade represents a 33.33% increase in their position.
Cenovus Energy Stock Performance
Shares of Cenovus Energy stock opened at C$24.31 on Tuesday. The stock has a market cap of C$45.86 billion, a price-to-earnings ratio of 14.05, a P/E/G ratio of 0.09 and a beta of 0.47. Cenovus Energy Inc. has a twelve month low of C$14.48 and a twelve month high of C$26.36. The company's fifty day moving average is C$24.52 and its 200 day moving average is C$22.25. 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 (TSE:CVE - Get Free Report) (NYSE:CVE) last announced its earnings results on Friday, October 31st. The company reported C$0.72 EPS for the quarter. The firm had revenue of C$13.20 billion for the quarter. Cenovus Energy had a return on equity of 12.67% and a net margin of 6.72%. Sell-side analysts forecast that Cenovus Energy Inc. will post 2.2619279 EPS for the current year.
Cenovus Energy Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Monday, December 15th. Cenovus Energy's dividend payout ratio is currently 43.93%.
Wall Street Analyst Weigh In
CVE has been the topic of a number of recent analyst reports. Jefferies Financial Group boosted their price target on shares of Cenovus Energy from C$25.00 to C$29.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. ATB Capital upped their price target on shares of Cenovus Energy from C$25.00 to C$28.00 and gave the company an "outperform" rating in a research report on Monday, August 25th. Scotiabank boosted their price objective on Cenovus Energy from C$27.00 to C$29.00 and gave the company an "outperform" rating in a research note on Tuesday, October 14th. Desjardins raised their target price on Cenovus Energy from C$33.00 to C$33.50 and gave the stock a "buy" rating in a research note on Friday. Finally, JPMorgan Chase & Co. cut their price target on Cenovus Energy from C$32.00 to C$29.00 and set an "overweight" rating on the stock in a report on Thursday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Cenovus Energy presently has a consensus rating of "Buy" and an average target price of C$29.59.
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About Cenovus Energy
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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.
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