Insider Buying: Cenovus Energy Inc. (TSE:CVE) Insider Acquires 44,700 Shares of Stock

Cenovus Energy Inc. (TSE:CVE - Get Free Report) NYSE: CVE insider Cenovus Energy Inc. bought 44,700 shares of the business's stock in a transaction on Monday, December 2nd. The stock was bought at an average price of C$22.07 per share, with a total value of C$986,658.63.

Cenovus Energy Stock Performance

CVE traded up C$0.16 during trading on Friday, hitting C$22.24. The stock had a trading volume of 8,516,324 shares, compared to its average volume of 4,870,439. The firm has a market cap of C$41.37 billion, a PE ratio of 8.86, a P/E/G ratio of 0.09 and a beta of 2.63. The company has a current ratio of 1.66, a quick ratio of 1.00 and a debt-to-equity ratio of 33.34. Cenovus Energy Inc. has a 12 month low of C$19.82 and a 12 month high of C$29.96. The company has a 50 day simple moving average of C$21.85 and a 200-day simple moving average of C$23.90.

Cenovus Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were paid a $0.18 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.24%. Cenovus Energy's payout ratio is presently 28.69%.

Analyst Ratings Changes

A number of brokerages have commented on CVE. National Bankshares lowered their target price on Cenovus Energy from C$31.00 to C$29.00 and set an "outperform" rating on the stock in a research note on Thursday, December 19th. Raymond James boosted their price target on Cenovus Energy from C$32.00 to C$33.00 in a research note on Friday, December 13th. TD Securities dropped their price objective 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. Royal Bank of Canada reduced their target price on shares of Cenovus Energy from C$29.00 to C$28.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. Finally, BMO Capital Markets dropped their price target on shares of Cenovus Energy from C$28.00 to C$25.00 in a research note on Friday, December 13th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of C$31.20.

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.