Cenovus Energy Inc. (TSE:CVE - Get Free Report) (NYSE:CVE) insider Jonathan Michael Mckenzie sold 104,974 shares of the business's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of C$43.49, for a total transaction of C$4,565,319.26. Following the completion of the transaction, the insider directly owned 843,824 shares in the company, valued at C$36,697,905.76. This trade represents a 11.06% decrease in their ownership of the stock.
Jonathan Michael Mckenzie also recently made the following trade(s):
- On Wednesday, May 27th, Jonathan Michael Mckenzie sold 69,387 shares of Cenovus Energy stock. The stock was sold at an average price of C$39.51, for a total transaction of C$2,741,480.37.
Cenovus Energy Stock Performance
Shares of CVE stock opened at C$44.56 on Tuesday. The company has a debt-to-equity ratio of 34.01, a quick ratio of 1.00 and a current ratio of 1.63. The firm has a market cap of C$82.18 billion, a price-to-earnings ratio of 12.38, a P/E/G ratio of 0.09 and a beta of 0.16. Cenovus Energy Inc. has a 52 week low of C$20.47 and a 52 week high of C$44.60. The firm's 50-day simple moving average is C$38.68 and its two-hundred day simple moving average is C$36.22.
Cenovus Energy (TSE:CVE - Get Free Report) (NYSE:CVE) last released its earnings results on Wednesday, July 29th. The company reported C$1.53 earnings per share for the quarter. Cenovus Energy had a net margin of 12.37% and a return on equity of 21.02%. The firm had revenue of C$17.43 billion during the quarter. As a group, equities analysts forecast that Cenovus Energy Inc. will post 2.2619279 earnings per share for the current year.
Cenovus Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were paid a $0.22 dividend. The ex-dividend date was Monday, June 15th. This is a positive change from Cenovus Energy's previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 2.0%. Cenovus Energy's dividend payout ratio (DPR) is currently 22.78%.
Analyst Ratings Changes
A number of analysts have issued reports on CVE shares. Gerdes Energy Research raised Cenovus Energy from a "neutral" rating to a "buy" rating and raised their target price for the stock from C$42.00 to C$46.00 in a research report on Monday, June 29th. JPMorgan Chase & Co. upped their price target on Cenovus Energy from C$45.00 to C$51.00 in a research report on Thursday, July 30th. Royal Bank Of Canada increased their price target on Cenovus Energy from C$47.00 to C$51.00 and gave the stock an "outperform" rating in a research note on Thursday, July 30th. Scotia lifted their price objective on Cenovus Energy from C$38.00 to C$44.00 and gave the stock a "sector outperform" rating in a report on Thursday, May 7th. Finally, Scotiabank boosted their price objective on Cenovus Energy from C$49.00 to C$51.00 and gave the company a "sector outperform" rating in a research note on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of C$43.73.
Read Our Latest Research Report on Cenovus Energy
Cenovus Energy Company Profile
(
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].
