Cenovus Energy (TSE:CVE) Insider Jonathan Michael Mckenzie Sells 69,387 Shares

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 sale, the insider owned 1,143,824 shares of the company’s stock, valued at C$45,192,486.24. The trade was a 5.72% decrease in their position.

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 shares were sold at an average price of C$38.72, for a total transaction of C$2,323,200.00.

Cenovus Energy Trading Down 2.4%

Shares of TSE:CVE traded down C$0.96 during trading on Wednesday, hitting C$39.00. 4,416,552 shares of the company’s stock were exchanged, compared to its average volume of 8,813,202. Cenovus Energy Inc. has a 1-year low of C$17.61 and a 1-year high of C$44.13. The firm has a 50-day moving average price of C$37.55 and a two-hundred day moving average price of C$30.33. 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 firm has a market cap of C$72.73 billion, a P/E ratio of 15.54, a PEG ratio of 0.09 and a beta of 0.23.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its quarterly earnings data on Wednesday, May 6th. The company reported C$0.84 earnings per share 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. Equities analysts predict that Cenovus Energy Inc. will post 2.2619279 earnings per share for the current year.

Cenovus Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.80 annualized dividend and a yield of 2.1%. Cenovus Energy’s dividend payout ratio (DPR) is presently 31.87%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. BMO Capital Markets lowered their price objective on shares of Cenovus Energy from C$38.00 to C$35.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. Raymond James Financial downgraded shares of Cenovus Energy from a “strong-buy” rating to a “moderate buy” rating and boosted their target price for the stock from C$41.00 to C$42.00 in a report on Wednesday, May 6th. TD upped their price objective on shares of Cenovus Energy from C$35.00 to C$45.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Scotia upped their price objective on shares of Cenovus Energy from C$38.00 to C$44.00 and gave the company a “sector outperform” rating in a report on Thursday, May 7th. Finally, Scotiabank upped their price objective on shares of 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 equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Cenovus Energy has a consensus rating of “Buy” and an average price target 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.