Insider Buying: Cenovus Energy Inc. (TSE:CVE) Senior Officer Buys C$100,250.00 in Stock

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) Senior Officer Karamjit Singh Sandhar purchased 5,000 shares of Cenovus Energy stock in a transaction that occurred on Wednesday, February 26th. The stock was purchased at an average price of C$20.05 per share, with a total value of C$100,250.00.

Cenovus Energy Price Performance

Shares of TSE CVE opened at C$20.01 on Friday. The stock has a market capitalization of C$36.45 billion, a PE ratio of 9.86, a P/E/G ratio of 0.09 and a beta of 2.63. The company has a debt-to-equity ratio of 33.59, a current ratio of 1.59 and a quick ratio of 1.00. The business has a fifty day moving average price of C$21.43 and a two-hundred day moving average price of C$22.56. Cenovus Energy Inc. has a fifty-two week low of C$19.47 and a fifty-two week high of C$29.96.

Cenovus Energy Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 3.60%. Cenovus Energy’s dividend payout ratio is presently 35.49%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CVE shares. Jefferies Financial Group reduced their price target on Cenovus Energy from C$32.00 to C$30.00 in a research note on Thursday, January 30th. BMO Capital Markets reduced their price target on Cenovus Energy from C$28.00 to C$25.00 in a research note on Friday, December 13th. Raymond James boosted their price target on Cenovus Energy from C$32.00 to C$33.00 in a research note on Friday, December 13th. TD Securities reduced their price target on Cenovus Energy from C$29.00 to C$28.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Finally, National Bank Financial downgraded Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$29.89.

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.