Cenovus Energy (TSE:CVE) Insider John Soini Sells 26,223 Shares

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) insider John Soini sold 26,223 shares of Cenovus Energy stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of C$44.92, for a total value of C$1,177,937.16. Following the sale, the insider owned 2,114 shares in the company, valued at C$94,960.88. This represents a 92.54% decrease in their ownership of the stock.

Cenovus Energy Stock Up 0.6%

Shares of Cenovus Energy stock traded up C$0.26 on Friday, hitting C$45.12. 1,597,069 shares of the company’s stock traded hands, compared to its average volume of 7,598,827. The stock has a market cap of C$83.21 billion, a P/E ratio of 12.53, a PEG ratio of 0.09 and a beta of 0.16. The company has a quick ratio of 1.00, a current ratio of 1.63 and a debt-to-equity ratio of 34.01. The firm’s 50-day moving average is C$39.02 and its 200 day moving average is C$36.60. Cenovus Energy Inc. has a 52-week low of C$21.48 and a 52-week high of C$45.94.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last issued its quarterly earnings results on Wednesday, July 29th. The company reported C$1.53 earnings per share (EPS) for the quarter. The business had revenue of C$17.43 billion during the quarter. Cenovus Energy had a net margin of 12.37% and a return on equity of 21.02%. Equities analysts anticipate that Cenovus Energy Inc. will post 2.2619279 earnings per share for the current year.

Cenovus Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Monday, June 15th. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.20. Cenovus Energy’s payout ratio is presently 22.78%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Scotia lifted their price target on Cenovus Energy from C$38.00 to C$44.00 and gave the stock a “sector outperform” rating in a research note on Thursday, May 7th. Desjardins set a C$50.00 target price on Cenovus Energy and gave the stock a “buy” rating in a report on Friday, July 17th. Gerdes Energy Research upgraded Cenovus Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from C$42.00 to C$46.00 in a report on Monday, June 29th. Royal Bank Of Canada raised their price objective on Cenovus Energy from C$47.00 to C$51.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Finally, Scotiabank boosted their target price on shares of Cenovus Energy from C$49.00 to C$51.00 and gave the company a “sector outperform” rating in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$43.73.

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.