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

Cenovus Energy Inc. (TSE:CVE - Get Free Report) NYSE: CVE declared a quarterly dividend on Friday, June 13th, TickerTech Dividends reports. Shareholders of record on Monday, June 30th will be paid a dividend of 0.20 per share on Monday, June 30th. This represents a $0.80 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend is Friday, June 13th. This is a 11.1% increase from Cenovus Energy's previous quarterly dividend of $0.18.

Cenovus Energy Stock Up 3.5%

Shares of TSE:CVE traded up C$0.67 on Friday, reaching C$20.08. The company had a trading volume of 3,102,338 shares, compared to its average volume of 6,420,306. The company has a quick ratio of 1.00, a current ratio of 1.59 and a debt-to-equity ratio of 33.59. The stock has a market capitalization of C$36.58 billion, a P/E ratio of 9.90, a P/E/G ratio of 0.09 and a beta of 2.63. The stock has a 50-day moving average price of C$17.59 and a 200 day moving average price of C$19.70. Cenovus Energy has a twelve month low of C$14.48 and a twelve month high of C$28.39.

Insider Buying and Selling at Cenovus Energy

In other news, Senior Officer John F. Soini bought 5,880 shares of the company's stock in a transaction that occurred on Wednesday, April 9th. The shares were acquired at an average price of C$16.89 per share, with a total value of C$99,313.20. Also, insider Hutchison Whampoa Europe Investments S.à r.l. sold 77,429 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of C$19.60, for a total value of C$1,517,987.80. Over the last quarter, insiders have purchased 60,984 shares of company stock valued at $1,121,894. 32.03% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CVE has been the subject of several research analyst reports. Desjardins cut their target price on shares of Cenovus Energy from C$24.50 to C$22.50 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Scotiabank upgraded shares of Cenovus Energy to a "strong-buy" rating in a research note on Wednesday, March 19th. TD Securities raised their price objective on shares of Cenovus Energy from C$25.00 to C$26.00 and gave the stock a "buy" rating in a report on Friday, May 9th. CIBC lowered their price objective on Cenovus Energy from C$32.00 to C$28.00 in a research note on Thursday, April 10th. Finally, Veritas lowered Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of C$28.15.

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.