Jonathan Michael Mckenzie Sells 104,974 Shares of Cenovus Energy (TSE:CVE) Stock

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) insider Jonathan Michael Mckenzie sold 104,974 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of C$43.49, for a total transaction of C$4,565,319.26. Following the completion of the sale, the insider owned 843,824 shares in the company, valued at C$36,697,905.76. This represents a 11.06% decrease in their ownership of the stock.

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

• On Wednesday, May 27th, Jonathan Michael Mckenzie sold 69,387 shares of Cenovus Energy stock. The shares were sold at an average price of C$39.51, for a total transaction of C$2,741,480.37.

Cenovus Energy Stock Performance

Shares of TSE CVE opened at C$45.22 on Wednesday. The business has a fifty day simple moving average of C$38.82 and a 200 day simple moving average of C$36.35. 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 firm has a market capitalization of C$83.40 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 0.09 and a beta of 0.16. Cenovus Energy Inc. has a one year low of C$20.47 and a one year high of C$45.28.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last posted its quarterly earnings results on Wednesday, July 29th. The company reported C$1.53 earnings per share (EPS) for the quarter. The firm had revenue of C$17.43 billion during the quarter. Cenovus Energy had a net margin of 12.37% and a return on equity of 21.02%. Sell-side analysts expect that Cenovus Energy Inc. will post 2.2619279 EPS for the current year.

Cenovus Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.88 dividend on an annualized basis and a yield of 1.9%. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.20. Cenovus Energy’s payout ratio is 22.78%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Raymond James Financial raised their price target on shares of Cenovus Energy from C$41.00 to C$46.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. Scotia boosted their target price on Cenovus Energy from C$38.00 to C$44.00 and gave the stock a “sector outperform” rating in a research report on Thursday, May 7th. Desjardins set a C$50.00 price target on Cenovus Energy and gave the company a “buy” rating in a report on Friday, July 17th. JPMorgan Chase & Co. boosted their price objective on Cenovus Energy from C$45.00 to C$51.00 in a report on Thursday, July 30th. Finally, TD upped their target price on shares of Cenovus Energy from C$46.00 to C$49.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of C$43.73.

About Cenovus Energy

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.