Cenovus Energy Inc. (TSE:CVE) to Issue $0.18 Quarterly Dividend

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) declared a quarterly dividend on Friday, March 14th, TickerTech Dividends reports. Stockholders 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 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Friday, March 14th.

Cenovus Energy Trading Up 0.9 %

Shares of Cenovus Energy stock traded up C$0.17 during trading on Wednesday, hitting C$18.87. The company’s stock had a trading volume of 1,141,595 shares, compared to its average volume of 5,255,896. The stock has a market cap of C$34.37 billion, a price-to-earnings ratio of 9.30, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63. Cenovus Energy has a 52 week low of C$17.42 and a 52 week high of C$29.96. The stock has a 50-day moving average price of C$21.00 and a two-hundred day moving average price of C$22.16. The company has a debt-to-equity ratio of 33.59, a current ratio of 1.59 and a quick ratio of 1.00.

Analysts Set New Price Targets

Several research firms have recently weighed in on CVE. National Bank Financial lowered Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 20th. Royal Bank of Canada dropped their price target on shares of Cenovus Energy from C$28.00 to C$26.00 in a research report on Tuesday, January 14th. National Bankshares cut Cenovus Energy from an “outperform” rating to a “sector perform” rating and cut their target price for the company from C$28.00 to C$25.00 in a research report on Friday, February 21st. TD Securities lowered their price target on Cenovus Energy from C$29.00 to C$28.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Finally, Raymond James upped their target price on shares of Cenovus Energy from C$32.00 to C$33.00 in a research note on Friday, December 13th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$29.89.

Insiders Place Their Bets

In other Cenovus Energy news, Senior Officer Karamjit Singh Sandhar bought 6,000 shares of Cenovus Energy stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of C$17.97 per share, with a total value of C$107,808.00. Also, Senior Officer Jeffery George Lawson purchased 5,000 shares of the business’s stock in a transaction on Friday, December 27th. The shares were acquired at an average price of C$21.17 per share, with a total value of C$105,832.00. Insiders have purchased a total of 32,050 shares of company stock worth $656,738 over the last 90 days. Corporate insiders own 32.03% of the company’s stock.

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.