Cenovus Energy Inc. (TSE:CVE) Raises Dividend to $0.18 Per Share

Cenovus Energy Inc. (TSE:CVEGet Free Report) (NYSE:CVE) announced a quarterly dividend on Wednesday, May 1st, Zacks reports. Investors of record on Friday, May 17th will be paid a dividend of 0.18 per share on Friday, May 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Thursday, May 16th. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.14.

Cenovus Energy Stock Performance

Cenovus Energy stock opened at C$27.93 on Tuesday. The company’s 50-day moving average is C$27.42 and its two-hundred day moving average is C$24.48. The company has a current ratio of 1.70, a quick ratio of 1.00 and a debt-to-equity ratio of 33.03. Cenovus Energy has a 1 year low of C$19.82 and a 1 year high of C$29.96. The company has a market cap of C$52.23 billion, a PE ratio of 11.54, a PEG ratio of 0.09 and a beta of 2.78.

Cenovus Energy (TSE:CVEGet Free Report) (NYSE:CVE) last announced its quarterly earnings results on Thursday, February 15th. The company reported C$0.39 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.33 by C$0.06. Cenovus Energy had a net margin of 8.72% and a return on equity of 16.11%. The business had revenue of C$13.13 billion for the quarter, compared to the consensus estimate of C$13.06 billion. During the same period last year, the company posted $0.39 EPS. Equities analysts anticipate that Cenovus Energy will post 2.7862823 earnings per share for the current year.

Insider Activity at Cenovus Energy

In other Cenovus Energy news, Senior Officer Jonathan Michael Mckenzie acquired 50,000 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was bought at an average cost of C$23.49 per share, with a total value of C$1,174,500.00. In related news, Senior Officer Jonathan Michael Mckenzie purchased 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were acquired at an average price of C$23.49 per share, for a total transaction of C$1,174,500.00. Also, Senior Officer Andrew Dahlin sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of C$25.99, for a total transaction of C$649,657.50. In the last ninety days, insiders sold 267,180 shares of company stock worth $7,506,016. Insiders own 31.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CVE. Jefferies Financial Group boosted their price objective on Cenovus Energy from C$28.00 to C$36.00 and gave the company a “buy” rating in a research report on Friday, April 12th. National Bankshares upped their target price on shares of Cenovus Energy from C$29.00 to C$38.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Scotiabank cut their price target on Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating on the stock in a report on Tuesday, January 16th. CIBC lifted their target price on Cenovus Energy from C$31.00 to C$35.00 and gave the company an “outperform” rating in a research report on Monday, April 22nd. Finally, TD Securities upped their price target on Cenovus Energy from C$30.00 to C$32.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Cenovus Energy currently has an average rating of “Moderate Buy” and an average target price of C$33.19.

View Our Latest Stock Analysis on Cenovus Energy

About Cenovus Energy

(Get Free Report)

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.

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Dividend History for Cenovus Energy (TSE:CVE)

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