Key Points
- Cenovus Energy insider Jonathan Michael Mckenzie sold 69,387 shares on May 27 at an average price of C$39.51, for total proceeds of about C$2.74 million. His holdings fell by 5.72% after the transaction.
- This was not the first recent sale by Mckenzie, who also sold 60,000 shares on May 7 for about C$2.32 million, suggesting continued insider selling activity.
- Despite the insider sale, analysts remain constructive on the stock, with a consensus rating of “Buy” and an average target price of C$39.79. Cenovus also reported quarterly EPS of C$0.84 and pays a quarterly dividend yielding about 2.1%.
Cenovus Energy Inc. (TSE:CVE - Get Free Report) (NYSE:CVE) insider Jonathan Michael Mckenzie sold 69,387 shares of the firm's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of C$39.51, for a total value of C$2,741,480.37. Following the completion of the sale, the insider directly owned 1,143,824 shares in the company, valued at approximately C$45,192,486.24. This represents a 5.72% decrease in their position.
Jonathan Michael Mckenzie also recently made the following trade(s):
- On Thursday, May 7th, Jonathan Michael Mckenzie sold 60,000 shares of Cenovus Energy stock. The shares were sold at an average price of C$38.72, for a total value of C$2,323,200.00.
Cenovus Energy Trading Down 2.4%
Shares of CVE stock opened at C$39.00 on Thursday. The stock's fifty day moving average price is C$37.55 and its two-hundred day moving average price is C$30.33. The company has a market cap of C$72.73 billion, a PE ratio of 15.54, a P/E/G ratio of 0.09 and a beta of 0.23. Cenovus Energy Inc. has a fifty-two week low of C$17.61 and a fifty-two week high of C$44.13. The company has a debt-to-equity ratio of 42.29, a quick ratio of 1.00 and a current ratio of 1.57.
Cenovus Energy (TSE:CVE - Get Free Report) (NYSE:CVE) last issued its earnings results on Wednesday, May 6th. The company reported C$0.84 earnings per share for the quarter. Cenovus Energy had a return on equity of 15.23% and a net margin of 9.52%.The firm had revenue of C$12.36 billion for the quarter. Equities analysts predict that Cenovus Energy Inc. will post 2.2619279 EPS for the current fiscal year.
Cenovus Energy Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.80 annualized dividend and a dividend yield of 2.1%. Cenovus Energy's dividend payout ratio (DPR) is 31.87%.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Cenovus Energy from C$25.00 to C$41.00 in a report on Tuesday, April 14th. Jefferies Financial Group raised their price objective on Cenovus Energy from C$30.00 to C$37.00 in a report on Monday, March 16th. ATB Cormark Capital Markets raised their price objective on Cenovus Energy from C$29.00 to C$34.00 in a report on Monday, February 23rd. Royal Bank Of Canada raised their price objective on Cenovus Energy from C$45.00 to C$47.00 and gave the company an "outperform" rating in a report on Tuesday, May 19th. Finally, Veritas raised Cenovus Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, March 10th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of C$39.79.
Get Our Latest Analysis on Cenovus Energy
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
