Key Points
- Director Michael John Crothers bought 1,000 shares at C$38.89 each, a C$38,890 purchase that increased his direct holdings by 11.11% to 10,000 shares.
- Cenovus reported quarterly earnings of C$1.83 per share and revenue of C$15.98 billion; analysts forecast C$2.26 per share for the year.
- Analysts’ consensus rating was Buy, with an average target price of C$47.12. The company’s quarterly dividend annualizes to C$0.88 per share, a yield of 2.3%.
Cenovus Energy Inc. (TSE:CVE - Get Free Report) (NYSE:CVE) Director Michael John Crothers bought 1,000 shares of the firm's stock in a transaction dated Friday, November 6th. The shares were bought at an average price of C$38.89 per share, with a total value of C$38,890.00. Following the completion of the transaction, the director directly owned 10,000 shares in the company, valued at approximately C$388,900. This trade represents a 11.11% increase in their position.
Cenovus Energy Trading Down 0.1%
Shares of CVE stock traded down C$0.02 on Friday, reaching C$38.74. The company had a trading volume of 7,084,074 shares, compared to its average volume of 7,195,416. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 8.52. The stock has a market cap of C$70.02 billion, a PE ratio of 10.76, a PEG ratio of 0.09 and a beta of 0.16. The company has a 50-day moving average of C$44.84 and a 200-day moving average of C$38.46. Cenovus Energy Inc. has a 12 month low of C$21.62 and a 12 month high of C$47.46.
Cenovus Energy (TSE:CVE - Get Free Report) (NYSE:CVE) last released its quarterly earnings data on Wednesday, November 4th. The company reported C$1.83 earnings per share for the quarter. Cenovus Energy had a net margin of 15.42% and a return on equity of 26.15%. The business had revenue of C$15.98 billion for the quarter. On average, equities analysts forecast that Cenovus Energy Inc. will post 2.26 earnings per share for the current year.
Cenovus Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th were given a $0.22 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $0.88 annualized dividend and a dividend yield of 2.3%. Cenovus Energy's payout ratio is currently 23.33%.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on CVE shares. National Bank Financial increased their target price on Cenovus Energy from C$57.00 to C$58.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 20th. Desjardins lifted their price target on shares of Cenovus Energy from C$52.00 to C$53.00 and gave the company a "buy" rating in a research note on Tuesday, October 20th. Royal Bank Of Canada upped their price target on shares of Cenovus Energy from C$47.00 to C$51.00 and gave the company an "outperform" rating in a report on Thursday, July 30th. JPMorgan Chase & Co. raised shares of Cenovus Energy from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from C$51.00 to C$58.00 in a research report on Tuesday, September 8th. Finally, Canadian Imperial Bank of Commerce raised their price objective on shares of Cenovus Energy from C$48.00 to C$52.00 in a report on Thursday, August 27th. Two investment 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 MarketBeat, Cenovus Energy currently has an average rating of "Buy" and a consensus target price of C$47.12.
Get Our Latest Stock Analysis on CVE
Cenovus Energy Company Profile
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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.
Further Reading
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