Cenovus Energy (TSE:CVE) Insider Sells 21,146 Shares

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) insider Susan Mary Anderson-Olney sold 21,146 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of C$41.81, for a total transaction of C$884,114.26. Following the completion of the transaction, the insider owned 33,275 shares of the company’s stock, valued at C$1,391,227.75. This trade represents a 38.86% decrease in their ownership of the stock.

Susan Mary Anderson-Olney also recently made the following trade(s):

• On Friday, May 15th, Susan Mary Anderson-Olney sold 19,379 shares of Cenovus Energy stock. The shares were sold at an average price of C$41.84, for a total value of C$810,817.36.
• On Monday, May 11th, Susan Mary Anderson-Olney sold 18,913 shares of Cenovus Energy stock. The stock was sold at an average price of C$39.85, for a total value of C$753,683.05.
• On Monday, May 11th, Susan Mary Anderson-Olney sold 37,072 shares of Cenovus Energy stock. The stock was sold at an average price of C$39.85, for a total value of C$1,477,319.20.

Cenovus Energy Price Performance

Shares of Cenovus Energy stock traded up C$1.06 during trading on Friday, hitting C$42.41. 4,696,290 shares of the stock traded hands, compared to its average volume of 9,086,890. The stock has a market cap of C$79.09 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 0.09 and a beta of 0.23. The company has a quick ratio of 1.00, a current ratio of 1.57 and a debt-to-equity ratio of 42.29. Cenovus Energy Inc. has a 52 week low of C$17.61 and a 52 week high of C$42.41. The firm’s fifty day moving average is C$36.01 and its 200-day moving average is C$29.30.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its earnings results on Wednesday, May 6th. The company reported C$0.84 earnings per share for the quarter. Cenovus Energy had a return on equity of 15.23% and a net margin of 9.52%.The company had revenue of C$12.36 billion during the quarter. Research analysts expect that Cenovus Energy Inc. will post 2.2619279 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were paid a $0.20 dividend. 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 1.9%. Cenovus Energy’s dividend payout ratio is 31.87%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CVE. Raymond James Financial cut shares of Cenovus Energy from a “strong-buy” rating to a “moderate buy” rating and lifted their target price for the stock from C$41.00 to C$42.00 in a research report on Wednesday, May 6th. TD raised their price objective on Cenovus Energy from C$35.00 to C$45.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Desjardins lifted their price objective on Cenovus Energy from C$33.00 to C$36.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Gerdes Energy Research lowered Cenovus Energy from a “buy” rating to a “neutral” rating in a research note on Friday, March 20th. Finally, Scotiabank increased their target price on Cenovus Energy from C$30.00 to C$34.00 and gave the company an “outperform” rating in a report on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Cenovus Energy presently has a consensus rating of “Buy” and an average target price of C$39.64.

About Cenovus Energy

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.