Cenovus Energy Inc. (TSE:CVE) Senior Officer Karamjit Singh Sandhar Purchases 6,000 Shares of Stock

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) Senior Officer Karamjit Singh Sandhar purchased 6,000 shares of Cenovus Energy stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of C$17.97 per share, with a total value of C$107,808.00.

Karamjit Singh Sandhar also recently made the following trade(s):

• On Wednesday, February 26th, Karamjit Singh Sandhar acquired 5,000 shares of Cenovus Energy stock. The stock was purchased at an average cost of C$20.05 per share, with a total value of C$100,250.00.

Cenovus Energy Price Performance

Cenovus Energy stock opened at C$17.73 on Wednesday. The company has a current ratio of 1.59, a quick ratio of 1.00 and a debt-to-equity ratio of 33.59. The company has a fifty day simple moving average of C$21.31 and a 200-day simple moving average of C$22.46. The stock has a market cap of C$32.30 billion, a P/E ratio of 8.74, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63. Cenovus Energy Inc. has a 12-month low of C$17.52 and a 12-month high of C$29.96.

Cenovus Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.18 per share. The ex-dividend date was Friday, December 13th. This represents a $0.72 annualized dividend and a dividend yield of 4.06%. Cenovus Energy’s dividend payout ratio is currently 35.49%.

Wall Street Analyst Weigh In

CVE has been the subject of several research analyst reports. Jefferies Financial Group reduced their target price on Cenovus Energy from C$32.00 to C$30.00 in a research note on Thursday, January 30th. Royal Bank of Canada decreased their price target on Cenovus Energy from C$28.00 to C$26.00 in a research note on Tuesday, January 14th. BMO Capital Markets dropped their price target on shares of Cenovus Energy from C$28.00 to C$25.00 in a research report on Friday, December 13th. National Bank Financial lowered shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 20th. Finally, National Bankshares lowered Cenovus Energy from an “outperform” rating to a “sector perform” rating and cut their target price for the company from C$28.00 to C$25.00 in a research report on Friday, February 21st. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$29.89.

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.