Cenovus Energy (TSE:CVE) Insider Sells C$4,565,319.26 in Stock

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) insider Jonathan Michael Mckenzie sold 104,974 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of C$43.49, for a total value of C$4,565,319.26. Following the completion of the transaction, the insider directly owned 843,824 shares of the company’s stock, valued at approximately C$36,697,905.76. The trade was a 11.06% decrease in their position.

Jonathan Michael Mckenzie also recently made the following trade(s):

• On Wednesday, May 27th, Jonathan Michael Mckenzie sold 69,387 shares of Cenovus Energy stock. The shares were sold at an average price of C$39.51, for a total value of C$2,741,480.37.

Cenovus Energy Stock Performance

TSE:CVE opened at C$44.83 on Thursday. The stock’s 50-day moving average is C$38.92 and its 200-day moving average is C$36.48. Cenovus Energy Inc. has a 1-year low of C$20.60 and a 1-year high of C$45.73. The company has a current ratio of 1.63, a quick ratio of 1.00 and a debt-to-equity ratio of 34.01. The stock has a market cap of C$82.68 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 0.09 and a beta of 0.16.

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

Cenovus Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.22 per share. 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. This represents a $0.88 annualized dividend and a dividend yield of 2.0%. Cenovus Energy’s payout ratio is 22.78%.

Analyst Upgrades and Downgrades

CVE has been the subject of a number of recent research reports. TD increased their price objective on Cenovus Energy from C$46.00 to C$49.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Scotia upped their price target on Cenovus Energy from C$38.00 to C$44.00 and gave the company a “sector outperform” rating in a research report on Thursday, May 7th. Raymond James Financial upped their price target on Cenovus Energy from C$41.00 to C$46.00 and gave the company an “outperform” rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. increased their price target on Cenovus Energy from C$45.00 to C$51.00 in a research note on Thursday, July 30th. Finally, Desjardins set a C$50.00 price objective on Cenovus Energy and gave the stock a “buy” rating in a research report on Friday, July 17th. Two investment 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’s stock. According to MarketBeat.com, Cenovus Energy presently has an average rating of “Buy” and a consensus price target of C$43.73.

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.