Cenovus Energy Inc. (TSE:CVE) Senior Officer Jonathan Michael Mckenzie Acquires 50,000 Shares

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) Senior Officer Jonathan Michael Mckenzie purchased 50,000 shares of Cenovus Energy stock in a transaction that occurred on Tuesday, May 20th. The shares were bought at an average cost of C$18.49 per share, for a total transaction of C$924,500.00.

Cenovus Energy Price Performance

Shares of TSE CVE opened at C$18.48 on Wednesday. Cenovus Energy Inc. has a twelve month low of C$14.48 and a twelve month high of C$28.82. The company has a current ratio of 1.59, a quick ratio of 1.00 and a debt-to-equity ratio of 33.59. The company has a market capitalization of C$33.66 billion, a price-to-earnings ratio of 9.11, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63. The business has a 50 day simple moving average of C$17.84 and a 200-day simple moving average of C$20.10.

Cenovus Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were issued a $0.18 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.90%. Cenovus Energy’s dividend payout ratio (DPR) is 35.49%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CVE shares. National Bank Financial downgraded Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 20th. Jefferies Financial Group dropped their price objective on Cenovus Energy from C$32.00 to C$30.00 in a report on Thursday, January 30th. National Bankshares downgraded Cenovus Energy from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from C$28.00 to C$25.00 in a report on Friday, February 21st. Scotiabank upgraded Cenovus Energy to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, Desjardins dropped their price objective on Cenovus Energy from C$24.50 to C$22.50 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Cenovus Energy has a consensus rating of “Moderate Buy” and a consensus target price of C$28.15.

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.