Cenovus Energy (TSE:CVE) Insider Jonathan Michael Mckenzie Sells 69,387 Shares of Stock

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) insider Jonathan Michael Mckenzie sold 69,387 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of C$39.51, for a total value of C$2,741,480.37. Following the transaction, the insider owned 1,143,824 shares in the company, valued at approximately C$45,192,486.24. This trade represents a 5.72% decrease in their position.

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

• On Thursday, May 7th, Jonathan Michael Mckenzie sold 60,000 shares of Cenovus Energy stock. The stock was sold at an average price of C$38.72, for a total value of C$2,323,200.00.

Cenovus Energy Price Performance

Shares of TSE CVE opened at C$39.00 on Thursday. The firm has a market cap of C$72.73 billion, a P/E ratio of 15.54, a price-to-earnings-growth ratio of 0.09 and a beta of 0.23. The company has a current ratio of 1.57, a quick ratio of 1.00 and a debt-to-equity ratio of 42.29. Cenovus Energy Inc. has a 1-year low of C$17.61 and a 1-year high of C$44.13. The business’s 50 day moving average is C$37.55 and its 200-day moving average is C$30.33.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last issued its quarterly earnings results on Wednesday, May 6th. The company reported C$0.84 earnings per share (EPS) for the quarter. The business had revenue of C$12.36 billion for the quarter. Cenovus Energy had a return on equity of 15.23% and a net margin of 9.52%. Equities research analysts predict that Cenovus Energy Inc. will post 2.2619279 earnings per share for the current year.

Cenovus Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.80 dividend on an annualized basis and a yield of 2.1%. Cenovus Energy’s dividend payout ratio is currently 31.87%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CVE shares. Royal Bank Of Canada increased their price target on Cenovus Energy from C$45.00 to C$47.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 19th. Scotiabank increased their price target on Cenovus Energy from C$30.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Jefferies Financial Group increased their price target on Cenovus Energy from C$30.00 to C$37.00 in a research report on Monday, March 16th. Scotia increased their price target 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. Finally, Gerdes Energy Research downgraded Cenovus Energy from a “buy” rating to a “neutral” rating in a research report on Friday, March 20th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Cenovus Energy currently has a consensus rating of “Buy” and an average price target of C$39.79.

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.