Cenovus Energy Inc (NYSE:CVE) Declares $0.04 Quarterly Dividend
Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) announced a quarterly dividend on Thursday, April 25th, Wall Street Journal reports. Investors of record on Friday, June 14th will be paid a dividend of 0.0373 per share by the oil and gas company on Friday, June 28th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, June 13th.
Cenovus Energy has decreased its dividend by an average of 39.1% annually over the last three years.
NYSE CVE opened at $8.41 on Wednesday. Cenovus Energy has a 12 month low of $6.15 and a 12 month high of $11.29. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.65 and a current ratio of 1.10. The stock has a market capitalization of $10.27 billion, a price-to-earnings ratio of -4.83, a P/E/G ratio of 2.33 and a beta of 0.95.
Several equities analysts have commented on the stock. Zacks Investment Research lowered shares of Cenovus Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, February 12th. Goldman Sachs Group raised Cenovus Energy from a “sell” rating to a “neutral” rating and set a $11.00 price target for the company in a report on Tuesday, April 16th. ValuEngine downgraded Cenovus Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 7th. Finally, GMP Securities reissued a “buy” rating and issued a $17.50 target price on shares of Cenovus Energy in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $13.41.
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Cenovus Energy Company Profile
Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake.
Further Reading: Why Net Income is Important to Investors
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