Insider Buying: Cenovus Energy Inc. (TSE:CVE) Director Buys C$36,860.00 in Stock

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) Director Melanie Anne Little acquired 2,000 shares of the stock in a transaction dated Thursday, June 13th. The shares were bought at an average cost of C$18.43 per share, for a total transaction of C$36,860.00.

Cenovus Energy Stock Performance

TSE CVE opened at C$25.06 on Friday. The company has a debt-to-equity ratio of 33.03, a current ratio of 1.70 and a quick ratio of 1.00. Cenovus Energy Inc. has a 1-year low of C$19.82 and a 1-year high of C$29.96. The business has a 50 day simple moving average of C$27.91 and a two-hundred day simple moving average of C$24.83. The stock has a market capitalization of C$46.86 billion, a PE ratio of 10.06, a P/E/G ratio of 0.09 and a beta of 2.77.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its earnings results on Wednesday, May 1st. The company reported C$0.62 EPS for the quarter, beating analysts’ consensus estimates of C$0.47 by C$0.15. Cenovus Energy had a return on equity of 16.11% and a net margin of 8.72%. The firm had revenue of C$13.40 billion during the quarter, compared to the consensus estimate of C$13.71 billion. On average, research analysts predict that Cenovus Energy Inc. will post 2.7840467 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 28th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.87%. Cenovus Energy’s dividend payout ratio (DPR) is presently 29.72%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Cenovus Energy from C$32.00 to C$33.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. BMO Capital Markets upped their target price on shares of Cenovus Energy from C$29.00 to C$33.00 in a report on Thursday, March 28th. Jefferies Financial Group raised their price target on Cenovus Energy from C$28.00 to C$36.00 and gave the company a “buy” rating in a report on Friday, April 12th. National Bankshares upped their price objective on Cenovus Energy from C$29.00 to C$38.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Finally, TD Securities lifted their target price on Cenovus Energy from C$30.00 to C$32.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Cenovus Energy presently has a consensus rating of “Moderate Buy” and an average price target of C$33.50.

Cenovus Energy Company Profile

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.