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

Key Points

• Cenovus declared a quarterly dividend of $0.20 per share, payable to holders of record on March 31 with an ex‑dividend date of March 13, representing about a 2.5% annualized yield.
• In the most recent quarter Cenovus reported C$0.50 EPS on C$10.88 billion of revenue; the stock trades around C$31.97 with a market cap near C$60.08 billion and a P/E of 14.87.
• Several analysts have raised price targets (now in the C$32–36 range) and ratings, leaving the consensus rating at "Buy" with an average price target of C$32.00.

Cenovus Energy Inc. (TSE:CVE - Get Free Report) NYSE: CVE declared a quarterly dividend on Friday, March 13th, TickerTech Dividends reports. Investors of record on Tuesday, March 31st will be given a dividend of 0.20 per share on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, March 13th.

Cenovus Energy Price Performance

CVE traded up C$1.20 on Wednesday, hitting C$31.97. 4,923,401 shares of the stock were exchanged, compared to its average volume of 9,862,397. The firm has a market capitalization of C$60.08 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 0.09 and a beta of 0.63. The company has a debt-to-equity ratio of 53.80, a current ratio of 1.57 and a quick ratio of 1.00. Cenovus Energy has a 12 month low of C$14.48 and a 12 month high of C$32.62. The business has a 50-day moving average of C$27.42 and a two-hundred day moving average of C$25.20.

Cenovus Energy (TSE:CVE - Get Free Report) NYSE: CVE last released its earnings results on Thursday, February 19th. The company reported C$0.50 EPS for the quarter. The firm had revenue of C$10.88 billion for the quarter. Cenovus Energy had a net margin of 7.91% and a return on equity of 13.16%. Sell-side analysts forecast that Cenovus Energy will post 2.2619279 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on CVE shares. Royal Bank Of Canada boosted their price objective on shares of Cenovus Energy from C$31.00 to C$32.00 and gave the company an "outperform" rating in a research report on Friday, February 20th. TD Securities boosted their price target on Cenovus Energy from C$28.00 to C$35.00 and gave the stock a "buy" rating in a report on Friday, February 20th. Scotiabank upped their price objective on Cenovus Energy from C$30.00 to C$34.00 and gave the stock an "outperform" rating in a research report on Friday, February 20th. Desjardins lifted their target price on Cenovus Energy from C$33.00 to C$36.00 and gave the company a "buy" rating in a research report on Friday, February 20th. Finally, Veritas raised Cenovus Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of C$32.00.

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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