Jonathan Michael Mckenzie Buys 50,000 Shares of Cenovus Energy Inc. (TSE:CVE) Stock

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) Senior Officer Jonathan Michael Mckenzie bought 50,000 shares of Cenovus Energy stock in a transaction that occurred on Tuesday, May 20th. The stock was bought at an average price of C$18.49 per share, with a total value of C$924,500.00.

Cenovus Energy Trading Down 3.6%

Shares of TSE:CVE traded down C$0.70 during mid-day trading on Tuesday, reaching C$18.48. 7,732,847 shares of the company’s stock were exchanged, compared to its average volume of 5,998,494. The company has a debt-to-equity ratio of 33.59, a quick ratio of 1.00 and a current ratio of 1.59. Cenovus Energy Inc. has a twelve month low of C$14.48 and a twelve month high of C$28.82. The firm has a market capitalization of C$33.66 billion, a price-to-earnings ratio of 9.11, a PEG ratio of 0.09 and a beta of 2.63. The business’s fifty day moving average price is C$17.85 and its 200-day moving average price is C$20.12.

Cenovus Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date was Friday, March 14th. Cenovus Energy’s payout ratio is 35.49%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CVE shares. TD Securities upped their price target on Cenovus Energy from C$25.00 to C$26.00 and gave the stock a “buy” rating in a report on Friday, May 9th. CIBC dropped their target price on shares of Cenovus Energy from C$32.00 to C$28.00 in a research report on Thursday, April 10th. Scotiabank raised shares of Cenovus Energy to a “strong-buy” rating in a report on Wednesday, March 19th. JPMorgan Chase & Co. dropped their price objective on shares of Cenovus Energy from C$34.00 to C$32.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Finally, National Bankshares lowered shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from C$28.00 to C$25.00 in a research report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$28.15.

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.