Insider Buying: Cenovus Energy Inc. (TSE:CVE) Senior Officer Acquires 4,104 Shares of Stock

Cenovus Energy Inc. (TSE:CVE - Get Free Report) NYSE: CVE Senior Officer John F. Soini purchased 4,104 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was bought at an average cost of C$19.48 per share, with a total value of C$79,945.92.

Cenovus Energy Price Performance

TSE CVE traded up C$0.22 during trading hours on Friday, hitting C$20.32. The company had a trading volume of 10,919,759 shares, compared to its average volume of 5,952,847. Cenovus Energy Inc. has a 52 week low of C$17.42 and a 52 week high of C$29.96. The firm has a 50 day simple moving average of C$20.60 and a 200 day simple moving average of C$21.83. The company has a debt-to-equity ratio of 33.59, a quick ratio of 1.00 and a current ratio of 1.59. The firm has a market capitalization of C$37.01 billion, a price-to-earnings ratio of 10.02, a PEG ratio of 0.09 and a beta of 2.63.

Cenovus Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be given a dividend of $0.18 per share. The ex-dividend date is Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.54%. Cenovus Energy's dividend payout ratio (DPR) is presently 35.49%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. National Bankshares lowered Cenovus Energy from an "outperform" rating to a "sector perform" rating and lowered their price target for the company from C$28.00 to C$25.00 in a research report on Friday, February 21st. National Bank Financial lowered Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 20th. BMO Capital Markets decreased their target price on Cenovus Energy from C$28.00 to C$25.00 in a research report on Friday, December 13th. Jefferies Financial Group decreased their target price on Cenovus Energy from C$32.00 to C$30.00 in a research report on Thursday, January 30th. Finally, Raymond James raised their target price 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of C$29.89.

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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.