Hutchison Whampoa Europe Investments S.à r.l. Sells 1,158,189 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 1,158,189 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of C$19.16, for a total transaction of C$22,185,647.69.

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, 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 value of C$1,517,987.80.

Cenovus Energy Trading Down 0.6%

Shares of CVE stock traded down C$0.13 during mid-day trading on Wednesday, reaching C$20.04. The company's stock had a trading volume of 7,923,595 shares, 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 firm has a market capitalization of C$36.50 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63. The company's 50 day simple moving average is C$17.85 and its 200-day simple moving average is C$19.64. Cenovus Energy Inc. has a 12-month low of C$14.48 and a 12-month high of C$28.39.

Cenovus Energy Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CVE shares. JPMorgan Chase & Co. dropped their target price on Cenovus Energy from C$34.00 to C$32.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. National Bank Financial lowered shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 20th. TD Securities boosted their target price on shares of Cenovus Energy from C$25.00 to C$26.00 and gave the company a "buy" rating in a report on Friday, May 9th. Desjardins dropped their price target 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. Finally, Scotiabank upgraded shares of Cenovus Energy to a "strong-buy" rating in a report on Wednesday, March 19th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cenovus Energy presently 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.