Cenovus Energy Inc. (TSE:CVE) Declares $0.18 Quarterly Dividend

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) declared a quarterly dividend on Friday, March 14th, TickerTech Dividends reports. Investors of record on Monday, March 31st will be paid a dividend of 0.18 per share on Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Friday, March 14th.

Cenovus Energy Stock Performance

Shares of CVE stock traded up C$0.32 on Wednesday, reaching C$19.02. The stock had a trading volume of 1,599,736 shares, compared to its average volume of 5,275,875. The company has a 50 day simple moving average of C$21.00 and a 200 day simple moving average of C$22.16. 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 has a 1 year low of C$17.42 and a 1 year high of C$29.96. The stock has a market cap of C$34.65 billion, a P/E ratio of 9.37, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63.

Insider Activity at Cenovus Energy

In related news, Senior Officer Jeffery George Lawson bought 4,600 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were acquired at an average price of C$21.74 per share, with a total value of C$100,004.00. Also, Senior Officer Karamjit Singh Sandhar bought 6,000 shares of Cenovus Energy stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average price of C$17.97 per share, with a total value of C$107,808.00. Insiders have acquired 32,050 shares of company stock valued at $656,738 over the last quarter. 32.03% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CVE has been the subject of a number of recent analyst reports. Royal Bank of Canada dropped their price target on shares of Cenovus Energy from C$28.00 to C$26.00 in a research report on Tuesday, January 14th. Raymond James upped their target price on shares of Cenovus Energy from C$32.00 to C$33.00 in a research report on Friday, December 13th. BMO Capital Markets reduced their price target on shares of Cenovus Energy from C$28.00 to C$25.00 in a report on Friday, December 13th. Jefferies Financial Group dropped their price objective on shares of Cenovus Energy from C$32.00 to C$30.00 in a report on Thursday, January 30th. Finally, TD Securities reduced their target price on Cenovus Energy from C$29.00 to C$28.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.