Michael John Crothers Acquires 500 Shares of Cenovus Energy Inc. (TSE:CVE) Stock

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) Director Michael John Crothers purchased 500 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was purchased at an average price of C$20.78 per share, with a total value of C$10,390.00.

Michael John Crothers also recently made the following trade(s):

• On Wednesday, December 18th, Michael John Crothers acquired 500 shares of Cenovus Energy stock. The shares were acquired at an average price of C$21.15 per share, for a total transaction of C$10,575.00.

Cenovus Energy Stock Performance

CVE stock opened at C$20.75 on Monday. The firm has a 50 day moving average of C$21.52 and a two-hundred day moving average of C$22.72. Cenovus Energy Inc. has a 12 month low of C$20.16 and a 12 month high of C$29.96. The company has a market capitalization of C$37.80 billion, a price-to-earnings ratio of 10.23, a P/E/G ratio of 0.09 and a beta of 2.63. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.72 annualized dividend and a yield of 3.47%. Cenovus Energy’s dividend payout ratio (DPR) is currently 35.49%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CVE shares. TD Securities cut their price target on Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Raymond James lifted their price objective on shares of Cenovus Energy from C$32.00 to C$33.00 in a research note on Friday, December 13th. Royal Bank of Canada cut their price objective on Cenovus Energy from C$28.00 to C$26.00 in a research report on Tuesday, January 14th. BMO Capital Markets reduced their price objective on Cenovus Energy from C$28.00 to C$25.00 in a research note on Friday, December 13th. Finally, Jefferies Financial Group cut their target price on Cenovus Energy from C$32.00 to C$30.00 in a research report on Thursday, January 30th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$30.00.

About Cenovus Energy

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.