Cenovus Energy (TSE:CVE) Insider Jonathan Michael Mckenzie Sells 69,387 Shares

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) insider Jonathan Michael Mckenzie sold 69,387 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of C$39.51, for a total value of C$2,741,480.37. Following the transaction, the insider directly owned 1,143,824 shares of the company’s stock, valued at approximately C$45,192,486.24. The trade was a 5.72% decrease in their position.

Jonathan Michael Mckenzie also recently made the following trade(s):

• On Thursday, May 7th, Jonathan Michael Mckenzie sold 60,000 shares of Cenovus Energy stock. The shares were sold at an average price of C$38.72, for a total value of C$2,323,200.00.

Cenovus Energy Trading Down 2.4%

Shares of Cenovus Energy stock traded down C$0.96 on Wednesday, hitting C$39.00. The stock had a trading volume of 4,416,552 shares, compared to its average volume of 8,813,202. The stock has a 50 day moving average of C$37.55 and a 200 day moving average of C$30.33. Cenovus Energy Inc. has a twelve month low of C$17.61 and a twelve month high of C$44.13. The company has a debt-to-equity ratio of 42.29, a quick ratio of 1.00 and a current ratio of 1.57. The firm has a market capitalization of C$72.73 billion, a P/E ratio of 15.54, a PEG ratio of 0.09 and a beta of 0.23.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its quarterly earnings data on Wednesday, May 6th. The company reported C$0.84 earnings per share (EPS) for the quarter. Cenovus Energy had a return on equity of 15.23% and a net margin of 9.52%.The company had revenue of C$12.36 billion during the quarter. Sell-side analysts expect that Cenovus Energy Inc. will post 2.2619279 earnings per share for the current fiscal year.

Cenovus Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.80 annualized dividend and a dividend yield of 2.1%. Cenovus Energy’s dividend payout ratio is currently 31.87%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CVE. Jefferies Financial Group upped their price objective on Cenovus Energy from C$30.00 to C$37.00 in a research note on Monday, March 16th. UBS Group upped their price objective on Cenovus Energy from C$36.00 to C$41.00 in a research note on Thursday, April 9th. BMO Capital Markets lowered their price objective on Cenovus Energy from C$38.00 to C$35.00 and set an “outperform” rating for the company in a research note on Friday, February 20th. TD upped their price objective on Cenovus Energy from C$35.00 to C$45.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Finally, TD Securities upped their price objective on Cenovus Energy from C$28.00 to C$35.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$39.79.

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.