Cenovus Energy Inc (CVE) To Go Ex-Dividend on March 12th

Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) announced a quarterly dividend on Wednesday, February 12th, Zacks reports. Shareholders of record on Friday, March 13th will be given a dividend of 0.047 per share by the oil and gas company on Tuesday, March 31st. This represents a $0.19 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Thursday, March 12th.

Cenovus Energy has raised its dividend by an average of 7.0% annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Cenovus Energy has a payout ratio of 42.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Cenovus Energy to earn $0.32 per share next year, which means the company should continue to be able to cover its $0.19 annual dividend with an expected future payout ratio of 59.4%.

Cenovus Energy stock opened at $8.98 on Friday. The firm has a market cap of $11.01 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 1.76 and a beta of 1.01. The stock has a fifty day simple moving average of $9.42 and a two-hundred day simple moving average of $9.11. Cenovus Energy has a 12 month low of $7.67 and a 12 month high of $10.82. The company has a current ratio of 1.12, a quick ratio of 0.60 and a debt-to-equity ratio of 0.42.

A number of research firms have commented on CVE. Raymond James set a $13.00 target price on Cenovus Energy and gave the stock a “hold” rating in a report on Saturday, November 2nd. TD Securities reissued a “buy” rating and issued a $16.50 target price on shares of Cenovus Energy in a report on Thursday. AltaCorp Capital raised Cenovus Energy from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 31st. Morgan Stanley lowered Cenovus Energy from an “equal” rating to an “equal weight” rating in a report on Tuesday, October 22nd. Finally, TheStreet raised Cenovus Energy from a “d+” rating to a “c” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $14.71.

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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Dividend History for Cenovus Energy (NYSE:CVE)

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