Cenovus Energy (TSE:CVE) Director Michael John Crothers Acquires 1,000 Shares of Stock

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) Director Michael John Crothers bought 1,000 shares of the firm’s stock in a transaction dated Friday, November 6th. The shares were acquired at an average price of C$38.89 per share, for a total transaction of C$38,890.00. Following the acquisition, the director directly owned 10,000 shares of the company’s stock, valued at approximately C$388,900. The trade was a 11.11% increase in their position.

Cenovus Energy Price Performance

Shares of TSE:CVE traded down C$0.02 during midday trading on Friday, reaching C$38.74. The company’s stock had a trading volume of 7,084,074 shares, compared to its average volume of 7,195,416. The business’s fifty day simple moving average is C$44.84 and its 200-day simple moving average is C$38.46. The company has a debt-to-equity ratio of 8.52, a current ratio of 1.64 and a quick ratio of 1.00. Cenovus Energy Inc. has a fifty-two week low of C$21.62 and a fifty-two week high of C$47.46. The company has a market capitalization of C$70.02 billion, a P/E ratio of 10.76, a P/E/G ratio of 0.09 and a beta of 0.16.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last issued its quarterly earnings results on Wednesday, November 4th. The company reported C$1.83 earnings per share (EPS) for the quarter. Cenovus Energy had a net margin of 15.42% and a return on equity of 26.15%. The business had revenue of C$15.98 billion for the quarter. As a group, equities research analysts expect that Cenovus Energy Inc. will post 2.26 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 29th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Tuesday, September 15th. Cenovus Energy’s dividend payout ratio is presently 23.33%.

Wall Street Analyst Weigh In

Several analysts have recently commented on CVE shares. ATB Cormark Capital Markets increased their price target on shares of Cenovus Energy from C$49.00 to C$55.00 and gave the company an “outperform” rating in a research note on Thursday, October 22nd. Canadian Imperial Bank of Commerce boosted their price objective on shares of Cenovus Energy from C$48.00 to C$52.00 in a research report on Thursday, August 27th. National Bank Financial upped their price objective on Cenovus Energy from C$57.00 to C$58.00 and gave the stock an “outperform” rating in a report on Tuesday, October 20th. Scotiabank increased their price objective on Cenovus Energy from C$49.00 to C$51.00 and gave the company a “sector outperform” rating in a research report on Thursday, July 30th. Finally, Desjardins lifted their target price on Cenovus Energy from C$52.00 to C$53.00 and gave the company a “buy” rating in a research note on Tuesday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$47.12.

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.