Cenovus Energy Inc. (TSE:CVE) Director Michael John Crothers Purchases 500 Shares

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) Director Michael John Crothers acquired 500 shares of Cenovus Energy stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average price of C$22.24 per share, for a total transaction of C$11,120.00.

Cenovus Energy Stock Up 3.0 %

Shares of TSE:CVE opened at C$22.55 on Tuesday. The stock has a market cap of C$41.94 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 0.09 and a beta of 2.63. The business’s 50 day moving average is C$23.47 and its 200 day moving average is C$25.84. Cenovus Energy Inc. has a 12-month low of C$19.82 and a 12-month high of C$29.96. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 33.34.

Cenovus Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.72 annualized dividend and a dividend yield of 3.19%. Cenovus Energy’s dividend payout ratio is currently 28.69%.

Wall Street Analysts Forecast Growth

CVE has been the subject of several analyst reports. TD Securities raised shares of Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. BMO Capital Markets decreased their price target on Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating for the company in a report on Friday. Jefferies Financial Group dropped their price objective on Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Scotiabank decreased their target price on Cenovus Energy from C$35.00 to C$34.00 in a research note on Friday, July 12th. Finally, Raymond James dropped their target price on shares of Cenovus Energy from C$33.00 to C$32.00 in a research report on Tuesday, October 15th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Cenovus Energy 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.