Cenovus Energy Inc. (TSE:CVE – Get Free Report) (NYSE:CVE) Director Michael John Crothers acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, November 6th. The stock was purchased at an average price of C$38.89 per share, with a total value of C$38,890.00. Following the completion of the acquisition, the director owned 10,000 shares in the company, valued at C$388,900. The trade was a 11.11% increase in their ownership of the stock.
Cenovus Energy Stock Performance
CVE stock opened at C$38.74 on Friday. The stock’s 50 day simple moving average is C$44.84 and its 200 day simple moving average is C$38.46. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 32.76. Cenovus Energy Inc. has a 12-month low of C$21.62 and a 12-month high of C$47.46. The stock has a market capitalization of C$70.02 billion, a PE ratio of 10.76, a price-to-earnings-growth ratio of 0.09 and a beta of 0.16.
Cenovus Energy (TSE:CVE – Get Free Report) (NYSE:CVE) last posted its earnings results on Wednesday, November 4th. The company reported C$1.83 EPS for the quarter. Cenovus Energy had a return on equity of 26.15% and a net margin of 15.42%. The business had revenue of C$15.98 billion during the quarter. As a group, research analysts forecast that Cenovus Energy Inc. will post 2.26 earnings per share for the current fiscal year.
Cenovus Energy Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.88 annualized dividend and a dividend yield of 2.3%. Cenovus Energy’s dividend payout ratio (DPR) is 23.33%.
Analyst Ratings Changes
CVE has been the topic of a number of recent analyst reports. Royal Bank Of Canada raised their price target on shares of Cenovus Energy from C$47.00 to C$51.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. Scotiabank lifted their price target on shares of Cenovus Energy from C$49.00 to C$51.00 and gave the stock a “sector outperform” rating in a research note on Thursday, July 30th. ATB Cormark Capital Markets boosted their price objective on shares of Cenovus Energy from C$49.00 to C$55.00 and gave the company an “outperform” rating in a report on Thursday, October 22nd. JPMorgan Chase & Co. upgraded shares of Cenovus Energy from a “neutral” rating to an “overweight” rating and increased their price objective for the company from C$51.00 to C$58.00 in a research report on Tuesday, September 8th. Finally, National Bank Financial increased their price objective on shares of Cenovus Energy from C$57.00 to C$58.00 and gave the company an “outperform” rating in a research report on Tuesday, October 20th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of C$47.12.
Check Out Our Latest Research Report on CVE
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.
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