Cenovus Energy Inc. (TSE:CVE) Director Michael John Crothers Acquires 500 Shares of Stock

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) Director Michael John Crothers bought 500 shares of Cenovus Energy stock in a transaction dated Friday, February 21st. The shares were bought at an average price of C$20.78 per share, for a total transaction of C$10,390.00.

Michael John Crothers also recently made the following trade(s):

• On Wednesday, December 18th, Michael John Crothers acquired 500 shares of Cenovus Energy stock. The shares were purchased at an average cost of C$21.15 per share, for a total transaction of C$10,575.00.

Cenovus Energy Stock Down 4.2 %

TSE:CVE opened at C$20.75 on Friday. The company has a market cap of C$37.80 billion, a PE ratio of 10.23, a PEG ratio of 0.09 and a beta of 2.63. The stock has a 50-day simple moving average of C$21.54 and a 200 day simple moving average of C$22.77. The company has a debt-to-equity ratio of 33.59, a quick ratio of 1.00 and a current ratio of 1.59. Cenovus Energy Inc. has a 52-week low of C$20.16 and a 52-week high of C$29.96.

Cenovus Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were paid a $0.18 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.72 annualized dividend and a yield of 3.47%. Cenovus Energy’s payout ratio is currently 35.49%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CVE. National Bankshares lowered Cenovus Energy from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from C$28.00 to C$25.00 in a research report on Friday. TD Securities cut their price objective on shares of Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Raymond James increased their target price on Cenovus Energy from C$32.00 to C$33.00 in a research note on Friday, December 13th. BMO Capital Markets decreased their target price on Cenovus Energy from C$28.00 to C$25.00 in a research report on Friday, December 13th. Finally, National Bank Financial cut Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$30.00.

About Cenovus Energy

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.