Cenovus Energy Inc. Announces Quarterly Dividend of $0.18 (TSE:CVE)

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) announced a quarterly dividend on Friday, March 14th, TickerTech Dividends reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.18 per share on Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend is Friday, March 14th.

Cenovus Energy Stock Performance

Shares of Cenovus Energy stock traded up C$0.19 during trading hours on Wednesday, hitting C$18.89. 1,302,338 shares of the company were exchanged, compared to its average volume of 5,259,833. The business has a 50-day moving average of C$21.00 and a 200-day moving average of C$22.16. Cenovus Energy has a 1 year low of C$17.42 and a 1 year high of C$29.96. The company has a current ratio of 1.59, a quick ratio of 1.00 and a debt-to-equity ratio of 33.59. The stock has a market capitalization of C$34.41 billion, a price-to-earnings ratio of 9.31, a P/E/G ratio of 0.09 and a beta of 2.63.

Analyst Upgrades and Downgrades

CVE has been the topic of a number of recent analyst reports. National Bank Financial lowered shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 20th. Royal Bank of Canada reduced their price objective on shares of Cenovus Energy from C$28.00 to C$26.00 in a research note on Tuesday, January 14th. National Bankshares lowered shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from C$28.00 to C$25.00 in a research report on Friday, February 21st. Raymond James lifted their price target on shares of Cenovus Energy from C$32.00 to C$33.00 in a research report on Friday, December 13th. Finally, Jefferies Financial Group decreased their price target on Cenovus Energy from C$32.00 to C$30.00 in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$29.89.

Insider Buying and Selling at Cenovus Energy

In related news, Senior Officer Karamjit Singh Sandhar purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were bought at an average price of C$20.05 per share, for a total transaction of C$100,250.00. Also, Senior Officer Jeffery George Lawson acquired 10,000 shares of the stock in a transaction dated Friday, February 21st. The shares were bought at an average cost of C$21.39 per share, with a total value of C$213,900.00. Insiders acquired 32,050 shares of company stock worth $656,738 in the last 90 days. 32.03% of the stock is owned by company insiders.

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.