Cenovus Energy Inc. (TSE:CVE) Senior Officer Sells C$5,091,508.42 in Stock

Cenovus Energy Inc. (TSE:CVE - Get Free Report) NYSE: CVE Senior Officer Jonathan Michael Mckenzie sold 180,180 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of C$28.26, for a total value of C$5,091,508.42.

Jonathan Michael Mckenzie also recently made the following trade(s):

• On Friday, February 16th, Jonathan Michael Mckenzie purchased 50,000 shares of Cenovus Energy stock. The stock was bought at an average cost of C$23.49 per share, for a total transaction of C$1,174,500.00.

Cenovus Energy Stock Up 0.8 %

CVE stock traded up C$0.22 during mid-day trading on Wednesday, reaching C$28.50. The company had a trading volume of 16,934,187 shares, compared to its average volume of 4,763,937. The company has a market capitalization of C$53.30 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 0.09 and a beta of 2.78. Cenovus Energy Inc. has a 52 week low of C$19.82 and a 52 week high of C$29.96. The stock has a 50 day simple moving average of C$27.16 and a two-hundred day simple moving average of C$24.48. The company has a debt-to-equity ratio of 33.03, a current ratio of 1.70 and a quick ratio of 1.00.

Cenovus Energy (TSE:CVE - Get Free Report) NYSE: CVE last issued its earnings results on Thursday, February 15th. The company reported C$0.39 earnings per share for the quarter, topping analysts' consensus estimates of C$0.33 by C$0.06. The business 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 8.72% and a return on equity of 16.11%. During the same period in the previous year, the company earned $0.39 earnings per share. As a group, equities analysts predict that Cenovus Energy Inc. will post 2.7862823 earnings per share for the current fiscal year.

Cenovus Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.72 dividend on an annualized basis and a yield of 2.53%. This is a boost from Cenovus Energy's previous quarterly dividend of $0.14. Cenovus Energy's dividend payout ratio (DPR) is presently 30.58%.

Analyst Ratings Changes

Several equities analysts have weighed in on CVE shares. CIBC increased their target price on Cenovus Energy from C$31.00 to C$35.00 and gave the company an "outperform" rating in a research note on Monday, April 22nd. TD Securities lifted their price objective on shares of Cenovus Energy from C$30.00 to C$32.00 and gave the stock a "buy" rating in a research note on Thursday, May 2nd. National Bankshares upped their target price on shares of Cenovus Energy from C$29.00 to C$38.00 and gave the company an "outperform" rating in a research note on Friday, April 19th. Royal Bank of Canada boosted their price target on shares of Cenovus Energy from C$32.00 to C$33.00 and gave the company an "outperform" rating in a report on Thursday, May 2nd. Finally, Jefferies Financial Group lifted their target price on Cenovus Energy from C$28.00 to C$36.00 and gave the stock a "buy" rating in a report on Friday, April 12th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, Cenovus Energy currently has an average rating of "Moderate Buy" and an average target price of C$33.19.

About Cenovus Energy

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.