Cenovus Energy Inc. (TSE:CVE) Senior Officer Sells C$5,091,508.42 in Stock

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) Senior Officer Jonathan Michael Mckenzie sold 180,180 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of C$28.26, for a total transaction of C$5,091,508.42.

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

• On Friday, February 16th, Jonathan Michael Mckenzie purchased 50,000 shares of Cenovus Energy stock. The stock was purchased at an average price of C$23.49 per share, with a total value of C$1,174,500.00.

Cenovus Energy Stock Up 0.8 %

Shares of Cenovus Energy stock traded up C$0.22 during midday trading on Wednesday, reaching C$28.50. 16,938,145 shares of the company’s stock traded hands, compared to its average volume of 4,763,937. The company has a market cap of C$53.30 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 0.09 and a beta of 2.78. The company’s 50 day simple moving average is C$27.06 and its 200 day simple moving average is C$24.45. The company has a debt-to-equity ratio of 33.03, a quick ratio of 1.00 and a current ratio of 1.70. Cenovus Energy Inc. has a 52 week low of C$19.82 and a 52 week high of C$29.96.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its quarterly earnings results on Thursday, February 15th. The company reported C$0.39 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.33 by C$0.06. The business had revenue of C$13.13 billion for the quarter, compared to the consensus estimate of C$13.06 billion. Cenovus Energy had a net margin of 8.72% and a return on equity of 16.11%. During the same quarter last year, the firm earned $0.39 EPS. Equities analysts expect that Cenovus Energy Inc. will post 2.7862823 earnings per share for the current fiscal year.

Cenovus Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.53%. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.14. Cenovus Energy’s dividend payout ratio (DPR) is currently 30.58%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. CIBC upped their price target on shares of Cenovus Energy from C$31.00 to C$35.00 and gave the company an “outperform” rating in a research report on Monday, April 22nd. JPMorgan Chase & Co. reduced their price target on shares of Cenovus Energy from C$35.00 to C$34.00 in a research report on Thursday, January 11th. Jefferies Financial Group upped their price target on shares of Cenovus Energy from C$28.00 to C$36.00 and gave the company a “buy” rating in a research report on Friday, April 12th. TD Securities upped their price target on shares of Cenovus Energy from C$30.00 to C$32.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, Desjardins increased their target price on shares of Cenovus Energy from C$29.50 to C$31.50 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$33.19.

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.