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

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

Cenovus Energy Trading Down 0.9 %

TSE CVE opened at C$19.95 on Thursday. The stock has a market capitalization of C$36.34 billion, a P/E ratio of 9.83, a P/E/G ratio of 0.09 and a beta of 2.63. Cenovus Energy Inc. has a 52-week low of C$19.80 and a 52-week high of C$29.96. The firm has a 50-day moving average price of C$21.48 and a 200 day moving average price of C$22.67. 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 Announces Dividend

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 $0.18 dividend. 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 (DPR) is presently 35.49%.

Wall Street Analyst Weigh In

CVE has been the subject of several research analyst reports. Jefferies Financial Group decreased their price objective on shares of Cenovus Energy from C$32.00 to C$30.00 in a research note on Thursday, January 30th. National Bankshares downgraded shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from C$28.00 to C$25.00 in a research note on Friday, February 21st. TD Securities decreased their price objective on shares of Cenovus Energy from C$29.00 to C$28.00 and set a “buy” rating for the company in a research note on Monday. Royal Bank of Canada decreased their price objective on shares of Cenovus Energy from C$28.00 to C$26.00 in a research note on Tuesday, January 14th. Finally, Raymond James upped their price objective on shares of Cenovus Energy from C$32.00 to C$33.00 in a research note on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$29.89.

Cenovus Energy Company Profile

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.