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

Cenovus Energy Inc. (TSE:CVE - Get Free Report) NYSE: CVE Senior Officer Karamjit Singh Sandhar acquired 5,000 shares of the stock in a transaction dated Wednesday, February 26th. The shares were purchased at an average cost of C$20.05 per share, with a total value of C$100,250.00.

Cenovus Energy Stock Up 0.9 %

Shares of CVE stock traded up C$0.18 during mid-day trading on Friday, hitting C$20.01. The company's stock had a trading volume of 6,500,580 shares, compared to its average volume of 4,985,848. The stock has a market cap of C$36.45 billion, a price-to-earnings ratio of 9.86, a PEG ratio of 0.09 and a beta of 2.63. The company has a debt-to-equity ratio of 33.59, a quick ratio of 1.00 and a current ratio of 1.59. Cenovus Energy Inc. has a 52-week low of C$19.47 and a 52-week high of C$29.96. The business has a 50-day moving average price of C$21.43 and a 200 day moving average price of C$22.54.

Cenovus Energy Dividend Announcement

The business also recently declared 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 3.60%. Cenovus Energy's dividend payout ratio is presently 35.49%.

Wall Street Analyst Weigh In

A number of research analysts have commented on CVE shares. Raymond James upped their price target on Cenovus Energy from C$32.00 to C$33.00 in a research report on Friday, December 13th. National Bank Financial lowered shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 20th. Royal Bank of Canada cut their price objective on shares of Cenovus Energy from C$28.00 to C$26.00 in a report on Tuesday, January 14th. Jefferies Financial Group decreased their target price on shares of Cenovus Energy from C$32.00 to C$30.00 in a research note on Thursday, January 30th. Finally, TD Securities dropped their price target on Cenovus Energy from C$29.00 to C$28.00 and set a "buy" rating on the stock in a research report on Monday, February 24th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average 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.