Cenovus Energy Inc. (TSE:CVE) Director Sells C$5,028,880.00 in Stock

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) Director Alex Pourbaix sold 200,000 shares of Cenovus Energy stock in a transaction dated Monday, June 17th. The stock was sold at an average price of C$25.14, for a total value of C$5,028,880.00.

Alex Pourbaix also recently made the following trade(s):

• On Wednesday, June 19th, Alex Pourbaix sold 200,000 shares of Cenovus Energy stock. The stock was sold at an average price of C$25.58, for a total value of C$5,115,360.00.

Cenovus Energy Trading Down 0.2 %

Shares of TSE CVE opened at C$25.56 on Thursday. The stock has a market capitalization of C$47.80 billion, a P/E ratio of 10.27, a PEG ratio of 0.09 and a beta of 2.77. The business’s 50 day moving average is C$27.67 and its two-hundred day moving average is C$24.86. Cenovus Energy Inc. has a 1-year low of C$19.82 and a 1-year high of C$29.96. The company has a debt-to-equity ratio of 33.03, a current ratio of 1.70 and a quick ratio of 1.00.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last issued its quarterly earnings results on Wednesday, May 1st. The company reported C$0.62 earnings per share for the quarter, topping the consensus estimate of C$0.47 by C$0.15. Cenovus Energy had a return on equity of 16.11% and a net margin of 8.72%. The firm had revenue of C$13.40 billion for the quarter, compared to the consensus estimate of C$13.71 billion. As a group, research analysts expect that Cenovus Energy Inc. will post 2.7840467 EPS for the current year.

Cenovus Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 28th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.72 annualized dividend and a dividend yield of 2.82%. Cenovus Energy’s payout ratio is 29.72%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CVE. BMO Capital Markets lifted their target price on Cenovus Energy from C$29.00 to C$33.00 in a report on Thursday, March 28th. Desjardins lifted their target price on Cenovus Energy from C$29.50 to C$31.50 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. National Bankshares lifted their target price on Cenovus Energy from C$29.00 to C$38.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. Royal Bank of Canada boosted their price objective on Cenovus Energy from C$32.00 to C$33.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Finally, Jefferies Financial Group boosted their price objective on Cenovus Energy from C$28.00 to C$36.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$33.50.

Cenovus Energy Company Profile

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.