Cenovus Energy Inc. (TSE:CVE) Plans $0.20 Quarterly Dividend

Key Points

• Cenovus Energy Inc. announced a quarterly dividend of $0.20 per share, with investors of record on September 29th set to receive this payment, reflecting a 3.4% yield.
• The company's stock price held steady at C$23.38 during recent trading, with a 12-month range between C$14.48 and C$25.31.
• Equity analysts have a consensus rating of "Buy" for Cenovus Energy, with target prices ranging from C$26.00 to C$30.00, indicating positive market sentiment.

Cenovus Energy Inc. (TSE:CVE - Get Free Report) NYSE: CVE declared a quarterly dividend on Monday, September 15th, TickerTech Dividends reports. Investors of record on Monday, September 29th will be given a dividend of 0.20 per share on Monday, September 29th. This represents a c) annualized dividend and a yield of 3.3%. The ex-dividend date is Monday, September 15th.

Cenovus Energy Price Performance

TSE CVE traded up C$0.17 during mid-day trading on Thursday, hitting C$24.19. The stock had a trading volume of 3,632,841 shares, compared to its average volume of 7,541,159. The firm's 50 day moving average is C$21.33 and its 200 day moving average is C$19.37. Cenovus Energy has a twelve month low of C$14.48 and a twelve month high of C$25.31. The company has a debt-to-equity ratio of 33.59, a current ratio of 1.59 and a quick ratio of 1.00. The stock has a market capitalization of C$43.54 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 0.09 and a beta of 0.78.

Wall Street Analysts Forecast Growth

CVE has been the subject of several recent research reports. Desjardins increased their price objective on Cenovus Energy from C$27.50 to C$29.00 in a research note on Monday, August 25th. Raymond James Financial raised their target price on Cenovus Energy from C$29.00 to C$30.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. cut their target price on Cenovus Energy from C$32.00 to C$29.00 and set an "overweight" rating for the company in a research note on Thursday, September 11th. Royal Bank Of Canada raised their target price on Cenovus Energy from C$25.00 to C$26.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Finally, National Bankshares raised their target price on Cenovus Energy from C$28.00 to C$29.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 10th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of C$27.90.

Cenovus Energy Company Profile

Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 472 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds 6.7 billion boe of proven and probable reserves.