Insider Selling: Cenovus Energy Inc. (TSE:CVE) Director Sells C$5,206,700.00 in Stock

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) Director Alex Pourbaix sold 200,000 shares of Cenovus Energy stock in a transaction dated Monday, June 24th. The shares were sold at an average price of C$26.03, for a total transaction of C$5,206,700.00.

Alex Pourbaix also recently made the following trade(s):

• On Wednesday, June 19th, Alex Pourbaix sold 200,000 shares of Cenovus Energy stock. The shares were sold at an average price of C$25.58, for a total transaction of C$5,115,360.00.
• On Monday, June 17th, Alex Pourbaix sold 200,000 shares of Cenovus Energy stock. The stock was sold at an average price of C$25.14, for a total value of C$5,028,880.00.

Cenovus Energy Stock Up 1.7 %

CVE opened at C$26.93 on Friday. The company’s 50-day moving average price is C$27.38 and its two-hundred day moving average price is C$25.00. The company has a quick ratio of 1.00, a current ratio of 1.70 and a debt-to-equity ratio of 33.03. Cenovus Energy Inc. has a twelve month low of C$19.82 and a twelve month high of C$29.96. The stock has a market cap of C$50.36 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 0.09 and a beta of 2.77.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings data on Wednesday, May 1st. The company reported C$0.62 earnings per share for the quarter, beating the consensus estimate of C$0.47 by C$0.15. Cenovus Energy had a return on equity of 16.11% and a net margin of 8.72%. The business had revenue of C$13.40 billion during the quarter, compared to analyst estimates of C$13.71 billion. As a group, equities analysts expect that Cenovus Energy Inc. will post 2.7840467 earnings per share for the current year.

Cenovus Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 28th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Friday, June 14th. Cenovus Energy’s dividend payout ratio is currently 29.72%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CVE shares. BMO Capital Markets lifted their target price on Cenovus Energy from C$29.00 to C$33.00 in a research report on Thursday, March 28th. CIBC upped their target price on shares of Cenovus Energy from C$31.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Monday, April 22nd. Raymond James set a C$33.00 price target on shares of Cenovus Energy and gave the company an “outperform” rating in a research report on Wednesday, May 29th. TD Securities boosted their price target on shares of Cenovus Energy from C$30.00 to C$32.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Finally, Royal Bank of Canada increased their price objective on shares of Cenovus Energy from C$32.00 to C$33.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$33.50.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.