Insider Buying: Cenovus Energy Inc. (TSE:CVE) Director Purchases C$10,390.00 in Stock

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) Director Michael John Crothers purchased 500 shares of Cenovus Energy stock in a transaction dated Friday, February 21st. The shares were bought at an average price of C$20.78 per share, with a total value of C$10,390.00.

Michael John Crothers also recently made the following trade(s):

• On Wednesday, December 18th, Michael John Crothers acquired 500 shares of Cenovus Energy stock. The stock was purchased at an average cost of C$21.15 per share, with a total value of C$10,575.00.

Cenovus Energy Price Performance

Shares of TSE:CVE opened at C$20.75 on Monday. The business has a fifty day simple moving average of C$21.52 and a 200-day simple moving average of C$22.72. The company has a quick ratio of 1.00, a current ratio of 1.59 and a debt-to-equity ratio of 33.59. Cenovus Energy Inc. has a 52 week low of C$20.16 and a 52 week high of C$29.96. The company has a market cap of C$37.80 billion, a P/E ratio of 10.23, a P/E/G ratio of 0.09 and a beta of 2.63.

Cenovus Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.47%. Cenovus Energy’s dividend payout ratio (DPR) is presently 35.49%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Royal Bank of Canada decreased their target price on Cenovus Energy from C$28.00 to C$26.00 in a research report on Tuesday, January 14th. National Bankshares lowered shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from C$28.00 to C$25.00 in a research report on Friday. Raymond James raised their target price on shares of Cenovus Energy from C$32.00 to C$33.00 in a report on Friday, December 13th. TD Securities reduced their price target on shares of Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Finally, Jefferies Financial Group lowered their price target on shares of Cenovus Energy from C$32.00 to C$30.00 in a research report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$30.00.

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.