Hutchison Whampoa Europe Investments S.à r.l. Sells 684,838 Shares of Cenovus Energy Inc. (TSE:CVE) Stock

Cenovus Energy Inc. (TSE:CVE - Get Free Report) NYSE: CVE insider Hutchison Whampoa Europe Investments S.à r.l. sold 684,838 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of C$20.28, for a total transaction of C$13,886,994.98.

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

• On Friday, June 13th, Hutchison Whampoa Europe Investments S.à r.l. sold 2,438,525 shares of Cenovus Energy stock. The stock was sold at an average price of C$20.03, for a total transaction of C$48,849,820.34.
• On Tuesday, June 10th, Hutchison Whampoa Europe Investments S.à r.l. sold 1,158,189 shares of Cenovus Energy stock. The stock was sold at an average price of C$19.16, for a total transaction 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 stock was sold at an average price of C$19.60, for a total transaction of C$1,517,987.80.

Cenovus Energy Stock Down 4.9%

Cenovus Energy stock traded down C$0.98 during mid-day trading on Monday, reaching C$19.12. The company's stock had a trading volume of 14,026,329 shares, compared to its average volume of 6,776,752. The company has a market capitalization of C$34.83 billion, a price-to-earnings ratio of 9.42, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63. Cenovus Energy Inc. has a 12 month low of C$14.48 and a 12 month high of C$28.39. The business's 50 day simple moving average is C$18.09 and its 200 day simple moving average is C$19.58. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 30th will be given a $0.20 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.80 dividend on an annualized basis and a yield of 4.18%. This is an increase from Cenovus Energy's previous quarterly dividend of $0.18. Cenovus Energy's dividend payout ratio (DPR) is 35.49%.

Analyst Ratings Changes

A number of research firms have weighed in on CVE. Veritas lowered shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 14th. 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 report on Tuesday, April 15th. JPMorgan Chase & Co. cut 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 research report on Friday, April 11th. Scotiabank raised shares of Cenovus Energy to a "strong-buy" rating in a research report on Wednesday, March 19th. Finally, TD Securities boosted their target price on shares of Cenovus Energy from C$25.00 to C$26.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$28.15.

About Cenovus Energy

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.