Cenovus Energy Inc (TSE:CVE) (NYSE:CVE) announced a quarterly dividend on Wednesday, February 12th, Zacks reports. Investors of record on Friday, March 13th will be given a dividend of 0.063 per share on Tuesday, March 31st. This represents a $0.25 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, March 12th. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.06.
TSE CVE opened at C$11.94 on Friday. The stock has a market cap of $14.80 billion and a price-to-earnings ratio of 20.41. Cenovus Energy has a 52-week low of C$10.29 and a 52-week high of C$14.31. The business has a 50 day simple moving average of C$12.36 and a 200 day simple moving average of C$12.02. The company has a debt-to-equity ratio of 46.38, a quick ratio of 0.60 and a current ratio of 1.12.
In other Cenovus Energy news, Director Keith A.J. Macphail purchased 20,000 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was bought at an average cost of C$13.08 per share, with a total value of C$261,600.00. Following the purchase, the director now directly owns 222,000 shares of the company’s stock, valued at C$2,903,760.
Several brokerages have recently weighed in on CVE. Canaccord Genuity raised their price target on shares of Cenovus Energy from C$13.00 to C$14.00 in a research note on Tuesday, January 14th. Scotiabank decreased their price target on shares of Cenovus Energy from C$15.00 to C$14.50 in a research note on Tuesday, January 14th. Tudor Pickering reaffirmed a “buy” rating and set a C$14.00 price target on shares of Cenovus Energy in a research note on Wednesday. Morgan Stanley cut shares of Cenovus Energy from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, October 23rd. Finally, National Bank Financial decreased their price target on shares of Cenovus Energy from C$16.50 to C$16.00 and set an “outperform” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of C$14.94.
Cenovus Energy Company Profile
Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake.
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