Cenovus Energy Inc. (TSE:CVE) to Issue $0.22 Quarterly Dividend

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) declared a quarterly dividend on Tuesday, September 15th. Shareholders of record on Tuesday, September 29th will be given a dividend of 0.22 per share on Tuesday, September 29th. This represents a c) dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Tuesday, September 15th.

Cenovus Energy Stock Performance

Shares of TSE:CVE traded down C$0.27 during midday trading on Friday, hitting C$45.89. The company’s stock had a trading volume of 4,285,197 shares, compared to its average volume of 7,426,322. The stock has a market capitalization of C$84.63 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 0.09 and a beta of 0.19. The stock’s 50 day simple moving average is C$41.89 and its 200 day simple moving average is C$38.33. Cenovus Energy has a fifty-two week low of C$21.62 and a fifty-two week high of C$47.13. The company has a debt-to-equity ratio of 34.01, a quick ratio of 1.00 and a current ratio of 1.63.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its quarterly earnings data on Wednesday, July 29th. The company reported C$1.53 earnings per share for the quarter. Cenovus Energy had a return on equity of 21.02% and a net margin of 12.37%.The business had revenue of C$17.43 billion during the quarter. As a group, research analysts anticipate that Cenovus Energy will post 2.2619279 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Desjardins set a C$50.00 price target on Cenovus Energy and gave the stock a “buy” rating in a report on Friday, July 17th. National Bank Financial set a C$60.00 target price on shares of Cenovus Energy and gave the stock an “outperform” rating in a research report on Tuesday, August 25th. Raymond James Financial upped their target price on shares of Cenovus Energy from C$41.00 to C$46.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. TD increased their price target on shares of Cenovus Energy from C$46.00 to C$49.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Royal Bank Of Canada raised their price target on shares of Cenovus Energy from C$47.00 to C$51.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$44.88.

About Cenovus Energy

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.