Cenovus Energy Inc. (TSE:CVE) Director Alex Pourbaix Sells 300,000 Shares

Cenovus Energy Inc. (TSE:CVEGet Rating) (NYSE:CVE) Director Alex Pourbaix sold 300,000 shares of the business’s stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of C$27.45, for a total transaction of C$8,234,490.00. Following the transaction, the director now directly owns 955,900 shares of the company’s stock, valued at approximately C$26,237,829.97.

Shares of Cenovus Energy stock opened at C$28.80 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.03 and a debt-to-equity ratio of 59.74. The stock has a market capitalization of C$57.07 billion and a price-to-earnings ratio of 30.06. Cenovus Energy Inc. has a 1-year low of C$9.23 and a 1-year high of C$28.88. The firm’s 50-day moving average price is C$23.48 and its two-hundred day moving average price is C$19.64.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be paid a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a yield of 1.46%. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Tuesday, June 14th. Cenovus Energy’s dividend payout ratio is currently 10.96%.

CVE has been the subject of a number of research analyst reports. National Bankshares cut their price objective on shares of Cenovus Energy from C$35.00 to C$28.00 in a research report on Thursday, April 14th. Tudor Pickering & Holt set a C$22.00 price objective on shares of Cenovus Energy and gave the company a “buy” rating in a research report on Tuesday, February 8th. JPMorgan Chase & Co. upped their price objective on shares of Cenovus Energy from C$29.00 to C$30.00 in a research report on Tuesday, April 12th. Credit Suisse Group upped their price objective on shares of Cenovus Energy from C$26.00 to C$32.00 and gave the company an “outperform” rating in a research report on Monday, May 9th. Finally, Scotiabank upped their price objective on shares of Cenovus Energy from C$20.00 to C$24.00 in a research report on Tuesday, March 8th. Fifteen analysts have rated the stock with a buy rating, According to MarketBeat.com, Cenovus Energy presently has an average rating of “Buy” and an average target price of C$24.33.

Cenovus Energy Company Profile (Get Rating)

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada, the United States, and the Asia Pacific region. The company operates through Oil Sands, Conventional, Offshore, Canadian Manufacturing, U.S. Manufacturing, and Retail segments.

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