Cenovus Energy Inc. (TSE:CVE) Senior Officer Sells C$900,900.00 in Stock

Cenovus Energy Inc. (TSE:CVEGet Rating) (NYSE:CVE) Senior Officer Gary Frederick Molnar sold 36,036 shares of the business’s stock in a transaction on Friday, June 17th. The shares were sold at an average price of C$25.00, for a total value of C$900,900.00. Following the completion of the sale, the insider now directly owns 42,991 shares in the company, valued at approximately C$1,074,775.

TSE CVE opened at C$25.13 on Thursday. The stock has a 50-day simple moving average of C$26.17 and a 200 day simple moving average of C$21.22. The company has a market capitalization of C$49.80 billion and a PE ratio of 26.23. The company has a current ratio of 1.60, a quick ratio of 1.03 and a debt-to-equity ratio of 59.74. Cenovus Energy Inc. has a 12 month low of C$9.23 and a 12 month high of C$31.19.

Cenovus Energy (TSE:CVEGet Rating) (NYSE:CVE) last released its quarterly earnings data on Wednesday, April 27th. The company reported C$0.79 EPS for the quarter, missing analysts’ consensus estimates of C$0.81 by C($0.02). The company had revenue of C$17.96 billion during the quarter, compared to analyst estimates of C$13.59 billion. As a group, sell-side analysts predict that Cenovus Energy Inc. will post 3.3746478 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be issued a $0.105 dividend. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.04. This represents a $0.42 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Tuesday, June 14th. Cenovus Energy’s dividend payout ratio is 10.96%.

CVE has been the topic of several recent analyst reports. Credit Suisse Group boosted their price target on Cenovus Energy to C$37.00 and gave the company a “buy” rating in a research note on Thursday, June 9th. BMO Capital Markets boosted their price objective on Cenovus Energy from C$26.00 to C$30.00 in a research note on Thursday, April 28th. CSFB boosted their price objective on Cenovus Energy from C$32.00 to C$37.00 in a research note on Thursday, June 9th. ATB Capital boosted their price objective on Cenovus Energy from C$31.00 to C$33.00 and gave the stock an “outperform” rating in a research note on Thursday, April 28th. Finally, Raymond James set a C$27.00 price objective on Cenovus Energy and gave the stock an “outperform” rating in a research note on Thursday, April 28th. Fifteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cenovus Energy has a consensus rating of “Buy” and a consensus price target of C$26.24.

About Cenovus Energy (Get Rating)

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada, the United States, and the Asia Pacific region. The company operates through Oil Sands, Conventional, Offshore, Canadian Manufacturing, U.S. Manufacturing, and Retail segments.

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