Cenovus Energy Inc. (TSE:CVE) Director Buys C$11,120.00 in Stock

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) Director Michael John Crothers acquired 500 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were purchased at an average price of C$22.24 per share, with a total value of C$11,120.00.

Cenovus Energy Stock Performance

Shares of TSE CVE traded up C$0.68 during mid-day trading on Monday, reaching C$22.57. 1,214,176 shares of the company’s stock were exchanged, compared to its average volume of 5,293,429. The firm has a 50-day moving average price of C$23.53 and a two-hundred day moving average price of C$25.88. The company has a debt-to-equity ratio of 33.34, a current ratio of 1.66 and a quick ratio of 1.00. The firm has a market capitalization of C$41.98 billion, a price-to-earnings ratio of 8.72, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63. Cenovus Energy Inc. has a 52 week low of C$19.82 and a 52 week high of C$29.96.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings data on Thursday, August 1st. The company reported C$0.53 EPS for the quarter, missing the consensus estimate of C$0.72 by C($0.19). The company had revenue of C$14.89 billion during the quarter, compared to the consensus estimate of C$13.44 billion. Cenovus Energy had a return on equity of 16.69% and a net margin of 8.54%. Analysts predict that Cenovus Energy Inc. will post 2.2619279 EPS for the current year.

Cenovus Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.19%. Cenovus Energy’s dividend payout ratio (DPR) is presently 28.69%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. TD Securities upgraded shares of Cenovus Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 3rd. Jefferies Financial Group lowered their target price on shares of Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating on the stock in a report on Monday, September 16th. National Bankshares cut their price target on Cenovus Energy from C$38.00 to C$31.00 in a research note on Friday, September 27th. Royal Bank of Canada lowered their price objective on Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Scotiabank cut their target price on Cenovus Energy from C$35.00 to C$34.00 in a research report on Friday, July 12th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of C$31.90.

About Cenovus Energy

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.