Alex Pourbaix Sells 200,000 Shares of Cenovus Energy Inc. (TSE:CVE) Stock

Cenovus Energy Inc. (TSE:CVEGet Rating) (NYSE:CVE) Director Alex Pourbaix sold 200,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of C$24.79, for a total transaction of C$4,957,920.00. Following the sale, the director now owns 1,129,894 shares of the company’s stock, valued at C$28,009,620.30.

Cenovus Energy Stock Performance

TSE CVE opened at C$24.83 on Tuesday. The firm’s fifty day moving average price is C$23.48 and its two-hundred day moving average price is C$23.90. The stock has a market cap of C$47.95 billion and a PE ratio of 12.05. Cenovus Energy Inc. has a fifty-two week low of C$10.48 and a fifty-two week high of C$31.19. The company has a debt-to-equity ratio of 53.62, a quick ratio of 1.08 and a current ratio of 1.73.

Cenovus Energy (TSE:CVEGet Rating) (NYSE:CVE) last posted its earnings results on Thursday, July 28th. The company reported C$1.19 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.15 by C$0.04. The company had revenue of C$19.17 billion for the quarter, compared to the consensus estimate of C$16.97 billion. On average, equities analysts expect that Cenovus Energy Inc. will post 4.3424834 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be given a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Wednesday, September 14th. Cenovus Energy’s payout ratio is presently 9.34%.

Analyst Ratings Changes

Several equities research analysts have issued reports on CVE shares. CIBC cut their price objective on shares of Cenovus Energy from C$34.00 to C$32.00 in a research report on Wednesday, August 31st. Scotiabank lifted their price target on shares of Cenovus Energy from C$25.00 to C$34.00 in a research report on Wednesday, June 8th. National Bankshares dropped their price target on shares of Cenovus Energy from C$41.00 to C$38.00 and set an “outperform” rating for the company in a research report on Monday, July 18th. Raymond James lifted their price target on shares of Cenovus Energy from C$27.00 to C$30.00 and gave the company an “outperform” rating in a research report on Tuesday, July 5th. Finally, CSFB set a C$37.00 price target on shares of Cenovus Energy and gave the company an “outperform” rating in a research report on Thursday, August 11th. Sixteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$27.97.

Cenovus Energy Company Profile

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Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada, the United States, and the Asia Pacific region. The company operates through Oil Sands, Conventional, Offshore, Canadian Manufacturing, U.S. Manufacturing, and Retail segments.

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Insider Buying and Selling by Quarter for Cenovus Energy (TSE:CVE)

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