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

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) announced a quarterly dividend on Wednesday, May 1st, Zacks reports. Stockholders 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 dividend on an annualized basis and a dividend 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 Price Performance

Shares of CVE traded up C$0.21 during mid-day trading on Thursday, reaching C$28.20. The company had a trading volume of 447,623 shares, compared to its average volume of 4,585,205. The company’s 50 day simple moving average is C$26.71 and its 200 day simple moving average is C$24.50. Cenovus Energy has a 1-year low of C$19.82 and a 1-year high of C$29.96. 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 company has a market capitalization of C$52.73 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of 0.09 and a beta of 2.78.

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

Insider Buying and Selling at Cenovus Energy

In other Cenovus Energy news, Senior Officer Jonathan Michael Mckenzie acquired 50,000 shares of the company’s stock in a transaction on Friday, February 16th. The shares were acquired at an average cost of C$23.49 per share, with a total value of C$1,174,500.00. In other news, Senior Officer Andrew Dahlin sold 25,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of C$25.99, for a total transaction of C$649,657.50. Also, Senior Officer Jonathan Michael Mckenzie purchased 50,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were bought at an average price of C$23.49 per share, for a total transaction of C$1,174,500.00. Insiders have sold a total of 87,000 shares of company stock valued at $2,414,507 over the last three months. 31.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CVE has been the subject of several recent analyst reports. BMO Capital Markets upped their target price on shares of Cenovus Energy from C$29.00 to C$33.00 in a research note on Thursday, March 28th. Desjardins upped their target price on shares of Cenovus Energy from C$29.50 to C$31.50 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. CIBC upped their target price on shares of Cenovus Energy from C$31.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Monday, April 22nd. JPMorgan Chase & Co. reduced their target price on shares of Cenovus Energy from C$35.00 to C$34.00 in a research note on Thursday, January 11th. Finally, Royal Bank of Canada upped their target price on shares of Cenovus Energy from C$28.00 to C$32.00 in a research note on Tuesday, April 9th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average 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.