Cenovus Energy Inc. (TSE:CVE) to Issue Quarterly Dividend of $0.22

Key Points

• Cenovus Energy declared a quarterly dividend of C$0.22 per share, payable September 29 to shareholders of record that day; the stock’s indicated dividend yield is approximately 1.9%.
• Cenovus shares traded at C$45.89, near their 52-week high of C$47.13, with a market capitalization of about C$84.63 billion. The company reported quarterly EPS of C$1.53 and revenue of C$17.43 billion.
• Insiders sold 601,524 shares worth approximately C$25.5 million over the past three months, including substantial ownership reductions by Director Alex Pourbaix and insider John F. Soini.

Cenovus Energy Inc. (TSE:CVE - Get Free Report) NYSE: CVE declared a quarterly dividend on Tuesday, September 15th. Stockholders of record on Tuesday, September 29th will be paid a dividend of 0.22 per share on Tuesday, September 29th. This represents a c) dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, September 15th.

Cenovus Energy Price Performance

Shares of Cenovus Energy stock traded down C$0.27 during midday trading on Friday, reaching C$45.89. The company had a trading volume of 4,285,197 shares, compared to its average volume of 7,426,322. The company has a current ratio of 1.63, a quick ratio of 1.00 and a debt-to-equity ratio of 34.01. The stock has a fifty day simple moving average of C$41.89 and a 200 day simple moving average of C$38.33. Cenovus Energy has a 1-year low of C$21.62 and a 1-year high of C$47.13. The company has a market capitalization of C$84.63 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 0.09 and a beta of 0.19.

Cenovus Energy (TSE:CVE - Get Free Report) NYSE: CVE last announced its quarterly earnings data on Wednesday, July 29th. The company reported C$1.53 EPS for the quarter. The firm had revenue of C$17.43 billion for the quarter. Cenovus Energy had a return on equity of 21.02% and a net margin of 12.37%. As a group, equities research analysts forecast that Cenovus Energy will post 2.2619279 earnings per share for the current year.

Insider Transactions at Cenovus Energy

In related news, Director Alex Pourbaix sold 432,731 shares of the company's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of C$42.05, for a total transaction of C$18,196,338.55. Following the sale, the director owned 1,455,996 shares in the company, valued at approximately C$61,224,631.80. This represents a 22.91% decrease in their ownership of the stock. Also, insider John F. Soini sold 26,223 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of C$44.92, for a total value of C$1,177,937.16. Following the transaction, the insider directly owned 2,114 shares of the company's stock, valued at C$94,960.88. This trade represents a 92.54% decrease in their ownership of the stock. Insiders sold a total of 601,524 shares of company stock worth $25,546,211 in the last three months. Insiders own 32.03% of the company's stock.

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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