Cenovus Energy Inc. (TSE:CVE) Announces Quarterly Dividend of $0.18

Cenovus Energy Inc. (TSE:CVE - Get Free Report) NYSE: CVE declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Stockholders of record on Friday, June 14th will be paid a dividend of 0.18 per share on Friday, June 28th. This represents a $0.72 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Friday, June 14th. This is an increase from Cenovus Energy's previous quarterly dividend of $0.14.

Cenovus Energy Stock Up 0.6 %

Shares of TSE CVE traded up C$0.18 during midday trading on Thursday, hitting C$28.17. The stock had a trading volume of 3,639,925 shares, compared to its average volume of 4,626,589. The business's 50 day moving average is C$26.79 and its 200-day moving average is C$24.52. The company has a market cap of C$52.68 billion, a P/E ratio of 13.29, a PEG ratio of 0.09 and a beta of 2.78. Cenovus Energy has a 52 week low of C$19.82 and a 52 week high of C$29.96. The company has a quick ratio of 1.00, a current ratio of 1.56 and a debt-to-equity ratio of 34.64.

Cenovus Energy (TSE:CVE - Get Free Report) NYSE: CVE last issued its quarterly earnings data on Thursday, February 15th. The company reported C$0.39 earnings per share for the quarter, beating analysts' consensus estimates of C$0.33 by C$0.06. The company had revenue of C$13.13 billion for the quarter, compared to the consensus estimate of C$13.06 billion. Cenovus Energy had a net margin of 7.87% and a return on equity of 14.60%. During the same quarter in the prior year, the firm earned $0.39 earnings per share. As a group, analysts predict that Cenovus Energy will post 2.6887232 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Desjardins increased their price objective on shares of Cenovus Energy from C$29.50 to C$31.50 and gave the company a "buy" rating in a research report on Tuesday, April 23rd. National Bankshares increased their price objective on shares of Cenovus Energy from C$29.00 to C$38.00 and gave the company an "outperform" rating in a research report on Friday, April 19th. BMO Capital Markets increased their price objective on shares of Cenovus Energy from C$29.00 to C$33.00 in a research report on Thursday, March 28th. JPMorgan Chase & Co. lowered their price objective on shares of Cenovus Energy from C$35.00 to C$34.00 in a research report on Thursday, January 11th. Finally, Jefferies Financial Group increased their price target on shares of Cenovus Energy from C$28.00 to C$36.00 and gave the stock a "buy" rating in a research report on Friday, April 12th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of C$33.19.

Insider Transactions at Cenovus Energy

In other news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of C$29.21, for a total value of C$525,835.80. In related news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the firm's stock in a transaction on Monday, April 8th. The shares were sold at an average price of C$29.21, for a total transaction of C$525,835.80. Also, Senior Officer Jonathan Michael Mckenzie bought 50,000 shares of the business's stock in a transaction that occurred on Friday, February 16th. The shares were bought at an average cost of C$23.49 per share, with a total value of C$1,174,500.00. Insiders sold a total of 87,000 shares of company stock valued at $2,414,507 over the last three months. Corporate insiders own 31.50% of the company's stock.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.