Cenovus Energy Inc. (TSE:CVE) Plans Quarterly Dividend of $0.18

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) announced a quarterly dividend on Thursday, October 31st, Zacks reports. Investors of record on Friday, December 13th will be paid a dividend of 0.18 per share on Tuesday, December 31st. This represents a $0.72 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Friday, December 13th.

Cenovus Energy Trading Down 2.2 %

Shares of CVE stock opened at C$21.89 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.00 and a debt-to-equity ratio of 33.34. The company has a market capitalization of C$40.72 billion, a P/E ratio of 8.72, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63. The business’s 50 day moving average is C$23.53 and its two-hundred day moving average is C$25.88. Cenovus Energy has a twelve month low of C$19.82 and a twelve month high of C$29.96.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its earnings results on Thursday, August 1st. The company reported C$0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.72 by C($0.19). The business had revenue of C$14.89 billion for the quarter, compared to analyst estimates of C$13.44 billion. Cenovus Energy had a return on equity of 16.69% and a net margin of 8.54%. Equities analysts forecast that Cenovus Energy will post 2.2619279 EPS for the current year.

Insider Buying and Selling at Cenovus Energy

In other Cenovus Energy news, Senior Officer Geoffrey Murray bought 3,200 shares of the stock in a transaction on Tuesday, September 17th. The stock was purchased at an average price of C$22.54 per share, for a total transaction of C$72,112.00. In other news, Senior Officer Jeffery George Lawson acquired 7,500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of C$25.98 per share, for a total transaction of C$194,850.00. Also, Senior Officer Geoffrey Murray acquired 3,200 shares of Cenovus Energy stock in a transaction dated Tuesday, September 17th. The shares were acquired at an average price of C$22.54 per share, with a total value of C$72,112.00. Insiders have bought 152,200 shares of company stock worth $3,459,477 over the last quarter. 32.03% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Raymond James reduced their price target on shares of Cenovus Energy from C$33.00 to C$32.00 in a research report on Tuesday, October 15th. Desjardins raised their price objective on Cenovus Energy from C$31.50 to C$33.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Royal Bank of Canada lowered their target price on shares of Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating for the company in a report on Friday. TD Securities upgraded Cenovus Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, National Bankshares lowered their price target on Cenovus Energy from C$38.00 to C$31.00 in a report on Friday, September 27th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of C$31.90.

About Cenovus Energy

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.