Cenovus Energy Inc. (CVE) To Go Ex-Dividend on June 15th

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) declared a quarterly dividend on Monday, June 15th, TickerTech Dividends reports. Shareholders of record on Tuesday, June 30th will be given a dividend of 0.22 per share on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Monday, June 15th. This is a 10.0% increase from Cenovus Energy’s previous quarterly dividend of $0.20.

Cenovus Energy Price Performance

CVE traded down C$0.32 during trading on Friday, reaching C$39.47. The company’s stock had a trading volume of 9,825,353 shares, compared to its average volume of 8,626,258. The company has a quick ratio of 1.00, a current ratio of 1.57 and a debt-to-equity ratio of 42.29. The firm has a fifty day simple moving average of C$38.63 and a two-hundred day simple moving average of C$31.49. Cenovus Energy has a 1 year low of C$18.45 and a 1 year high of C$44.13. The company has a market cap of C$73.60 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 0.09 and a beta of 0.15.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its earnings results on Wednesday, May 6th. The company reported C$0.84 earnings per share for the quarter. Cenovus Energy had a net margin of 9.52% and a return on equity of 15.23%. The business had revenue of C$12.36 billion for the quarter. As a group, analysts anticipate that Cenovus Energy will post 2.2619279 EPS for the current year.

Analyst Upgrades and Downgrades

CVE has been the subject of a number of recent analyst reports. Raymond James Financial downgraded shares of Cenovus Energy from a “strong-buy” rating to a “moderate buy” rating and raised their price target for the stock from C$41.00 to C$42.00 in a report on Wednesday, May 6th. Jefferies Financial Group raised their price target on shares of Cenovus Energy from C$30.00 to C$37.00 in a report on Monday, March 16th. Veritas upgraded shares of Cenovus Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, March 10th. UBS Group raised their price target on shares of Cenovus Energy from C$36.00 to C$41.00 in a report on Thursday, April 9th. Finally, TD Securities raised their price target on shares of Cenovus Energy from C$28.00 to C$35.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Cenovus Energy has a consensus rating of “Buy” and a consensus price target of C$39.79.

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.