Cenovus Energy Inc. (TSE:CVE) Plans Quarterly Dividend of $0.22

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) declared a quarterly dividend on Tuesday, September 15th. Stockholders of record on Tuesday, September 29th will be paid a dividend of 0.22 per share on Tuesday, September 29th. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, September 15th.

Cenovus Energy Stock Performance

CVE stock traded down C$0.27 during mid-day trading on Friday, hitting C$45.89. 4,285,197 shares of the company were exchanged, compared to its average volume of 7,426,322. Cenovus Energy has a 1-year low of C$21.62 and a 1-year high of C$47.13. The stock has a market capitalization of C$84.63 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 0.09 and a beta of 0.19. The business has a 50 day simple moving average of C$41.89 and a 200-day simple moving average of C$38.33. The company has a current ratio of 1.63, a quick ratio of 1.00 and a debt-to-equity ratio of 34.01.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its earnings results on Wednesday, July 29th. The company reported C$1.53 earnings per share for the quarter. The company had revenue of C$17.43 billion for the quarter. Cenovus Energy had a return on equity of 21.02% and a net margin of 12.37%. On average, equities analysts forecast that Cenovus Energy will post 2.2619279 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on CVE shares. Canadian Imperial Bank of Commerce upped their price objective on Cenovus Energy from C$48.00 to C$52.00 in a report on Thursday, August 27th. Desjardins set a C$50.00 target price on Cenovus Energy and gave the stock a “buy” rating in a report on Friday, July 17th. Scotiabank boosted their target price on shares of Cenovus Energy from C$49.00 to C$51.00 and gave the company a “sector outperform” rating in a research report on Thursday, July 30th. TD upped their price target on shares of Cenovus Energy from C$46.00 to C$49.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, National Bank Financial set a C$60.00 price target on shares of Cenovus Energy and gave the stock an “outperform” rating in a research report on Tuesday, August 25th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Cenovus Energy has an average rating of “Buy” and an average price target of C$44.88.

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.