Cenovus Energy Inc. (TSE:CVE) Insider Hutchison Whampoa Europe Investments S.à r.l. Sells 2,438,525 Shares

Cenovus Energy Inc. (TSE:CVE - Get Free Report) NYSE: CVE insider Hutchison Whampoa Europe Investments S.à r.l. sold 2,438,525 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of C$20.03, for a total value of C$48,849,820.34.

Hutchison Whampoa Europe Investments S.à r.l. also recently made the following trade(s):

• On Tuesday, June 10th, Hutchison Whampoa Europe Investments S.à r.l. sold 1,158,189 shares of Cenovus Energy stock. The shares were sold at an average price of C$19.16, for a total value of C$22,185,647.69.
• On Tuesday, May 13th, Hutchison Whampoa Europe Investments S.à r.l. sold 77,429 shares of Cenovus Energy stock. The shares were sold at an average price of C$19.60, for a total transaction of C$1,517,987.80.

Cenovus Energy Stock Performance

CVE stock traded down C$0.13 during midday trading on Wednesday, hitting C$20.04. 7,923,595 shares of the company traded hands, compared to its average volume of 6,713,212. 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 business has a 50 day simple moving average of C$17.85 and a 200-day simple moving average of C$19.64. The stock has a market capitalization of C$36.50 billion, a price-to-earnings ratio of 9.88, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63. Cenovus Energy Inc. has a twelve month low of C$14.48 and a twelve month high of C$28.39.

Cenovus Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 30th will be given a $0.20 dividend. The ex-dividend date is Friday, June 13th. This is a boost from Cenovus Energy's previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 3.99%. Cenovus Energy's payout ratio is presently 35.49%.

Analyst Ratings Changes

Several research analysts recently weighed in on CVE shares. JPMorgan Chase & Co. dropped their target price on shares of Cenovus Energy from C$34.00 to C$32.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Scotiabank raised shares of Cenovus Energy to a "strong-buy" rating in a research note on Wednesday, March 19th. Veritas lowered Cenovus Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 14th. Desjardins lowered 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. Finally, National Bankshares lowered Cenovus Energy from an "outperform" rating to a "sector perform" rating and reduced their target price for the stock from C$28.00 to C$25.00 in a research note on Friday, February 21st. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.