Cenovus Energy Inc. (CVE) To Go Ex-Dividend on June 13th

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) announced a quarterly dividend on Friday, June 13th, TickerTech Dividends reports. Shareholders of record on Monday, June 30th will be paid a dividend of 0.20 per share on Monday, June 30th. This represents a $0.80 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date is Friday, June 13th. This is a 11.1% increase from Cenovus Energy’s previous quarterly dividend of $0.18.

Cenovus Energy Price Performance

Shares of CVE stock traded down C$0.16 during trading hours on Wednesday, hitting C$19.06. The company’s stock had a trading volume of 1,747,862 shares, compared to its average volume of 6,331,315. The business has a fifty day moving average of C$17.44 and a 200-day moving average of C$19.72. The stock has a market cap of C$34.72 billion, a price-to-earnings ratio of 9.39, a P/E/G ratio of 0.09 and a beta of 2.63. The company has a current ratio of 1.59, a quick ratio of 1.00 and a debt-to-equity ratio of 33.59. Cenovus Energy has a twelve month low of C$14.48 and a twelve month high of C$28.39.

Insiders Place Their Bets

In other news, insider Hutchison Whampoa Europe Investments S.à r.l. sold 77,429 shares of Cenovus Energy stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of C$19.60, for a total transaction of C$1,517,987.80. Also, Senior Officer Jonathan Michael Mckenzie purchased 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The stock was bought at an average price of C$18.49 per share, for a total transaction of C$924,500.00. In the last 90 days, insiders bought 60,984 shares of company stock worth $1,121,894. Corporate insiders own 32.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CVE. JPMorgan Chase & Co. reduced their price target on shares of Cenovus Energy from C$34.00 to C$32.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. TD Securities raised their price objective on Cenovus Energy from C$25.00 to C$26.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Desjardins dropped their target price on Cenovus Energy from C$24.50 to C$22.50 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. CIBC lowered their price target on Cenovus Energy from C$32.00 to C$28.00 in a report on Thursday, April 10th. Finally, National Bankshares cut Cenovus Energy from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from C$28.00 to C$25.00 in a research report on Friday, February 21st. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$28.15.

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.