Cenovus Energy (TSE:CVE) Insider Sells C$2,741,480.37 in Stock

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) insider Jonathan Michael Mckenzie sold 69,387 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of C$39.51, for a total transaction of C$2,741,480.37. Following the completion of the transaction, the insider directly owned 1,143,824 shares in the company, valued at approximately C$45,192,486.24. This represents a 5.72% decrease in their ownership of the stock.

Jonathan Michael Mckenzie also recently made the following trade(s):

• On Thursday, May 7th, Jonathan Michael Mckenzie sold 60,000 shares of Cenovus Energy stock. The stock was sold at an average price of C$38.72, for a total transaction of C$2,323,200.00.

Cenovus Energy Stock Performance

Shares of Cenovus Energy stock opened at C$38.06 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.00 and a debt-to-equity ratio of 42.29. The company has a market cap of C$70.98 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 0.09 and a beta of 0.23. The company has a 50 day moving average of C$37.78 and a 200-day moving average of C$30.48. Cenovus Energy Inc. has a 1-year low of C$17.61 and a 1-year high of C$44.13.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings data on Wednesday, May 6th. The company reported C$0.84 earnings per share (EPS) for the quarter. Cenovus Energy had a net margin of 9.52% and a return on equity of 15.23%. The business had revenue of C$12.36 billion for the quarter. As a group, equities research analysts forecast that Cenovus Energy Inc. will post 2.2619279 earnings per share for the current fiscal year.

Cenovus Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.1%. Cenovus Energy’s payout ratio is 31.87%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CVE. JPMorgan Chase & Co. raised their price objective on Cenovus Energy from C$25.00 to C$41.00 in a research note on Tuesday, April 14th. Jefferies Financial Group boosted their target price on Cenovus Energy from C$30.00 to C$37.00 in a research note on Monday, March 16th. Veritas raised shares of Cenovus Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, March 10th. Scotiabank raised their price target on shares of Cenovus Energy from C$30.00 to C$34.00 and gave the company an “outperform” rating in a research note on Friday, February 20th. Finally, National Bank Financial lifted their price target on shares of Cenovus Energy from C$30.00 to C$57.00 and gave the company an “outperform” rating in a report on Tuesday, March 31st. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$39.79.

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.