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

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) announced a quarterly dividend on Wednesday, May 1st, Zacks reports. Investors of record on Friday, June 14th will be given a dividend of 0.18 per share on Friday, June 28th. This represents a $0.72 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Friday, June 14th. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.14.

Cenovus Energy Trading Up 0.8 %

CVE stock traded up C$0.21 during midday trading on Thursday, reaching C$28.20. The company’s stock had a trading volume of 447,623 shares, compared to its average volume of 4,585,205. The company has a debt-to-equity ratio of 34.64, a quick ratio of 1.00 and a current ratio of 1.56. The stock has a fifty day simple moving average of C$26.71 and a two-hundred day simple moving average of C$24.50. Cenovus Energy has a 1 year low of C$19.82 and a 1 year high of C$29.96. The firm has a market capitalization of C$52.73 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 0.09 and a beta of 2.78.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its earnings results on Thursday, February 15th. The company reported C$0.39 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.33 by C$0.06. Cenovus Energy had a return on equity of 14.60% and a net margin of 7.87%. The business had revenue of C$13.13 billion for the quarter, compared to analyst estimates of C$13.06 billion. During the same quarter last year, the firm posted $0.39 earnings per share. On average, equities research analysts predict that Cenovus Energy will post 2.6887232 EPS for the current year.

Insider Activity at Cenovus Energy

In related news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of C$29.21, for a total transaction of C$525,835.80. In other Cenovus Energy news, Senior Officer Andrew Dahlin sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of C$25.99, for a total value of C$649,657.50. Also, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of C$29.21, for a total value of C$525,835.80. Insiders have sold a total of 87,000 shares of company stock valued at $2,414,507 over the last quarter. 31.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CVE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reduced their target price on Cenovus Energy from C$35.00 to C$34.00 in a research note on Thursday, January 11th. Jefferies Financial Group increased their price target on Cenovus Energy from C$28.00 to C$36.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. BMO Capital Markets increased their price target on Cenovus Energy from C$29.00 to C$33.00 in a research report on Thursday, March 28th. Scotiabank dropped their price target on Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 16th. Finally, CIBC increased their price target on Cenovus Energy from C$31.00 to C$35.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$33.35.

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.