Insider Buying: Cenovus Energy Inc. (TSE:CVE) Senior Officer Purchases 9,000 Shares of Stock

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) Senior Officer Jeffery George Lawson purchased 9,000 shares of Cenovus Energy stock in a transaction that occurred on Tuesday, September 10th. The shares were acquired at an average price of C$21.92 per share, with a total value of C$197,280.00.

Jeffery George Lawson also recently made the following trade(s):

• On Thursday, August 15th, Jeffery George Lawson bought 3,500 shares of Cenovus Energy stock. The shares were acquired at an average cost of C$27.21 per share, for a total transaction of C$95,235.00.
• On Monday, August 12th, Jeffery George Lawson bought 7,500 shares of Cenovus Energy stock. The shares were bought at an average price of C$25.98 per share, with a total value of C$194,850.00.
• On Monday, June 17th, Jeffery George Lawson purchased 2,000 shares of Cenovus Energy stock. The stock was bought at an average price of C$25.24 per share, for a total transaction of C$50,480.00.

Cenovus Energy Stock Performance

TSE CVE opened at C$22.03 on Friday. The firm’s 50 day simple moving average is C$25.73 and its 200 day simple moving average is C$26.53. The firm has a market capitalization of C$40.98 billion, a price-to-earnings ratio of 8.78, a P/E/G ratio of 0.09 and a beta of 2.67. The company has a current ratio of 1.66, a quick ratio of 1.00 and a debt-to-equity ratio of 33.34. Cenovus Energy Inc. has a 1 year low of C$19.82 and a 1 year high of C$29.96.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its earnings results on Thursday, August 1st. The company reported C$0.53 earnings per share for the quarter, missing the consensus estimate of C$0.72 by C($0.19). Cenovus Energy had a return on equity of 16.69% and a net margin of 8.54%. The business had revenue of C$14.89 billion for the quarter, compared to the consensus estimate of C$13.44 billion. As a group, research analysts expect that Cenovus Energy Inc. will post 2.5066667 earnings per share for the current fiscal year.

Cenovus Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 27th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date is Friday, September 13th. Cenovus Energy’s dividend payout ratio is 28.69%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Raymond James set a C$33.00 target price on Cenovus Energy and gave the stock an “outperform” rating in a research note on Wednesday, May 29th. Scotiabank lowered their price objective on Cenovus Energy from C$35.00 to C$34.00 in a research report on Friday, July 12th. National Bankshares boosted their target price on shares of Cenovus Energy from C$36.00 to C$38.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, Desjardins lifted their price objective on shares of Cenovus Energy from C$31.50 to C$33.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$34.08.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.