Key Points
- Insider sale: Cenovus Energy insider Jonathan Michael Mckenzie sold 60,000 shares at an average price of C$38.72, generating about C$2.32 million. After the transaction, he still held more than 1.21 million shares.
- Recent performance and earnings: The stock was trading around C$39.83, near its 1-year high of C$42.01, and the company reported C$0.84 EPS on revenue of C$12.36 billion for the latest quarter. Analysts expect full-year EPS of about 2.26.
- Dividend and analyst sentiment: Cenovus recently paid a quarterly dividend of C$0.20, or C$0.80 annualized, for a yield of about 2.0%. Wall Street remains generally positive, with a consensus rating of Buy and an average price target of C$39.64.
Cenovus Energy Inc. (TSE:CVE - Get Free Report) (NYSE:CVE) insider Jonathan Michael Mckenzie sold 60,000 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of C$38.72, for a total transaction of C$2,323,200.00. Following the sale, the insider owned 1,212,836 shares of the company's stock, valued at approximately C$46,961,009.92. This represents a 4.71% decrease in their ownership of the stock.
Cenovus Energy Stock Performance
Cenovus Energy stock opened at C$39.83 on Tuesday. The company has a current ratio of 1.57, a quick ratio of 1.00 and a debt-to-equity ratio of 42.29. The firm has a 50-day moving average of C$35.16 and a 200-day moving average of C$28.84. The firm has a market cap of C$74.28 billion, a P/E ratio of 15.87, a P/E/G ratio of 0.09 and a beta of 0.23. Cenovus Energy Inc. has a 1-year low of C$17.61 and a 1-year high of C$42.01.
Cenovus Energy (TSE:CVE - Get Free Report) (NYSE:CVE) last posted its earnings results on Wednesday, May 6th. The company reported C$0.84 earnings per share for the quarter. Cenovus Energy had a net margin of 9.52% and a return on equity of 15.23%. The company had revenue of C$12.36 billion during the quarter. Sell-side analysts expect that Cenovus Energy Inc. will post 2.2619279 EPS for the current year.
Cenovus Energy Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Friday, March 13th. Cenovus Energy's dividend payout ratio is presently 31.87%.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on CVE. Scotiabank increased their price target on shares of Cenovus Energy from C$30.00 to C$34.00 and gave the stock an "outperform" rating in a research note on Friday, February 20th. Gerdes Energy Research downgraded shares of Cenovus Energy from a "buy" rating to a "neutral" rating in a research note on Friday, March 20th. Veritas raised shares of Cenovus Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, March 10th. Raymond James Financial downgraded shares of Cenovus Energy from a "strong-buy" rating to a "moderate buy" rating and increased their price target for the stock from C$41.00 to C$42.00 in a research note on Wednesday, May 6th. Finally, UBS Group increased their price target on shares of Cenovus Energy from C$36.00 to C$41.00 in a research note on Thursday, April 9th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of C$39.64.
View Our Latest Report on CVE
About Cenovus Energy
(
Get Free Report)
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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