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

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) declared a quarterly dividend on Friday, March 14th, TickerTech Dividends reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.18 per share on Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date is Friday, March 14th.

Cenovus Energy Stock Performance

Shares of Cenovus Energy stock traded up C$0.27 on Wednesday, reaching C$18.97. 1,388,143 shares of the company were exchanged, compared to its average volume of 5,270,058. Cenovus Energy has a 1-year low of C$17.42 and a 1-year high of C$29.96. The firm has a market cap of C$34.56 billion, a price-to-earnings ratio of 9.35, a P/E/G ratio of 0.09 and a beta of 2.63. The company has a debt-to-equity ratio of 33.59, a quick ratio of 1.00 and a current ratio of 1.59. The company’s 50-day moving average is C$21.00 and its two-hundred day moving average is C$22.16.

Insider Buying and Selling at Cenovus Energy

In related news, Senior Officer Jeffery George Lawson acquired 5,000 shares of the stock in a transaction dated Friday, December 27th. The stock was bought at an average price of C$21.17 per share, for a total transaction of C$105,832.00. Also, Senior Officer Karamjit Singh Sandhar acquired 6,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were bought at an average price of C$17.97 per share, for a total transaction of C$107,808.00. In the last quarter, insiders have bought 32,050 shares of company stock worth $656,738. Corporate insiders own 32.03% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Jefferies Financial Group cut their target price on Cenovus Energy from C$32.00 to C$30.00 in a research note on Thursday, January 30th. National Bank Financial cut Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 20th. Royal Bank of Canada dropped their target price on shares of Cenovus Energy from C$28.00 to C$26.00 in a report on Tuesday, January 14th. National Bankshares downgraded Cenovus Energy from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from C$28.00 to C$25.00 in a report on Friday, February 21st. Finally, BMO Capital Markets reduced their price target on shares of Cenovus Energy from C$28.00 to C$25.00 in a research report on Friday, December 13th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$29.89.

Cenovus Energy Company Profile

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.