Insider Buying: Cenovus Energy Inc. (TSE:CVE) Senior Officer Buys 5,000 Shares of Stock

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) Senior Officer Karamjit Singh Sandhar bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was purchased at an average price of C$20.05 per share, with a total value of C$100,250.00.

Cenovus Energy Stock Down 1.0 %

Shares of Cenovus Energy stock traded down C$0.20 on Wednesday, reaching C$19.93. The company’s stock had a trading volume of 2,658,473 shares, compared to its average volume of 4,913,960. The company has a market capitalization of C$36.30 billion, a price-to-earnings ratio of 9.82, 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 Inc. has a 52 week low of C$19.80 and a 52 week high of C$29.96. The firm’s fifty day simple moving average is C$21.48 and its two-hundred day simple moving average is C$22.67.

Cenovus Energy Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 3.61%. Cenovus Energy’s dividend payout ratio is currently 35.49%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CVE. National Bank Financial lowered shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 20th. TD Securities dropped their price target on shares of Cenovus Energy from C$29.00 to C$28.00 and set a “buy” rating for the company in a research report on Monday. National Bankshares cut Cenovus Energy from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from C$28.00 to C$25.00 in a research note on Friday, February 21st. BMO Capital Markets lowered their price target on Cenovus Energy from C$28.00 to C$25.00 in a research report on Friday, December 13th. Finally, Raymond James lifted their price objective on Cenovus Energy from C$32.00 to C$33.00 in a research report on Friday, December 13th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$29.89.

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.