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

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 announced 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) dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Monday, September 15th.

Cenovus Energy Price Performance

Cenovus Energy stock remained flat at C$23.38 during trading hours on Friday. The company's stock had a trading volume of 13,256,853 shares, compared to its average volume of 7,477,356. The company's fifty day simple moving average is C$21.07 and its 200-day simple moving average is C$19.29. The company has a debt-to-equity ratio of 33.59, a quick ratio of 1.00 and a current ratio of 1.59. Cenovus Energy has a 12-month low of C$14.48 and a 12-month high of C$25.31. The stock has a market cap of C$42.08 billion, a P/E ratio of 16.24, a PEG ratio of 0.09 and a beta of 0.78.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CVE shares. Raymond James Financial lifted their price objective on Cenovus Energy from C$29.00 to C$30.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. lowered 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. ATB Capital lifted their price objective on Cenovus Energy from C$25.00 to C$28.00 and gave the stock an "outperform" rating in a research note on Monday, August 25th. Royal Bank Of Canada boosted their target price on Cenovus Energy from C$25.00 to C$26.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Finally, National Bank Financial raised Cenovus Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Cenovus Energy currently has an average rating of "Buy" and a consensus target price 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.

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