Insider Buying: Cenovus Energy Inc. (TSE:CVE) Insider Buys 44,700 Shares of Stock

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) insider Cenovus Energy Inc. bought 44,700 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was bought at an average price of C$22.07 per share, for a total transaction of C$986,658.63.

Cenovus Energy Stock Up 0.7 %

TSE CVE opened at C$22.24 on Friday. The business’s fifty day simple moving average is C$21.85 and its 200-day simple moving average is C$23.90. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 33.34. The firm has a market cap of C$41.37 billion, a PE ratio of 8.86, a P/E/G ratio of 0.09 and a beta of 2.63. Cenovus Energy Inc. has a 52 week low of C$19.82 and a 52 week high of C$29.96.

Cenovus Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend was Friday, December 13th. Cenovus Energy’s dividend payout ratio (DPR) is presently 28.69%.

Analysts Set New Price Targets

Several research firms recently issued reports on CVE. Royal Bank of Canada lowered their price objective on Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. TD Securities lowered their price target on Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. Jefferies Financial Group reduced their price objective on Cenovus Energy from C$33.00 to C$32.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Raymond James lifted their target price on shares of Cenovus Energy from C$32.00 to C$33.00 in a research note on Friday, December 13th. Finally, BMO Capital Markets reduced their target price on shares of Cenovus Energy from C$28.00 to C$25.00 in a research report on Friday, December 13th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$31.20.

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.