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

Cenovus Energy Inc. (TSE:CVEGet Free Report) (NYSE:CVE) announced a quarterly dividend on Wednesday, May 1st, Zacks reports. Investors of record on Friday, May 17th will be given a dividend of 0.18 per share on Friday, May 31st. This represents a $0.72 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Thursday, May 16th. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.14.

Cenovus Energy Stock Down 1.4 %

Cenovus Energy stock opened at C$27.55 on Wednesday. Cenovus Energy has a fifty-two week low of C$19.82 and a fifty-two week high of C$29.96. The company has a debt-to-equity ratio of 33.03, a quick ratio of 1.00 and a current ratio of 1.70. The company has a market cap of C$51.52 billion, a PE ratio of 11.38, a PEG ratio of 0.09 and a beta of 2.78. The business’s 50-day simple moving average is C$27.49 and its two-hundred day simple moving average is C$24.48.

Cenovus Energy (TSE:CVEGet Free Report) (NYSE:CVE) last released 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. Cenovus Energy had a return on equity of 16.11% and a net margin of 8.72%. The business had revenue of C$13.13 billion during the quarter, compared to analyst estimates of C$13.06 billion. During the same quarter last year, the business posted $0.39 EPS. Equities analysts anticipate that Cenovus Energy will post 2.7862823 EPS for the current year.

Insiders Place Their Bets

In other news, Senior Officer Jonathan Michael Mckenzie acquired 50,000 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was acquired at an average cost of C$23.49 per share, with a total value of C$1,174,500.00. In other news, 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 purchased at an average cost of C$23.49 per share, for a total transaction of C$1,174,500.00. Also, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of C$29.21, for a total transaction of C$525,835.80. Insiders have sold 267,180 shares of company stock valued at $7,506,016 over the last ninety days. Company insiders own 31.50% of the company’s stock.

Wall Street Analyst Weigh In

CVE has been the subject of a number of analyst reports. Jefferies Financial Group upped their price objective 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. CIBC raised their price objective on Cenovus Energy from C$31.00 to C$35.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. Royal Bank of Canada upped their target price on Cenovus Energy from C$32.00 to C$33.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Scotiabank dropped their price target on shares of Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 16th. Finally, National Bankshares upped their price objective on shares of Cenovus Energy from C$29.00 to C$38.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$33.19.

Check Out Our Latest Stock Report on Cenovus Energy

About Cenovus Energy

(Get Free Report)

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.

Featured Stories

Dividend History for Cenovus Energy (TSE:CVE)

Receive News & Ratings for Cenovus Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cenovus Energy and related companies with MarketBeat.com's FREE daily email newsletter.