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

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) announced a quarterly dividend on Friday, December 13th,Zacks Dividends reports. Shareholders of record on Tuesday, December 31st will be paid a dividend of 0.18 per share on Tuesday, December 31st. This represents a $0.72 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend is Friday, December 13th.

Cenovus Energy Price Performance

CVE opened at C$21.42 on Wednesday. The company’s 50-day simple moving average is C$22.77 and its two-hundred day simple moving average is C$24.74. The company has a debt-to-equity ratio of 33.34, a quick ratio of 1.00 and a current ratio of 1.66. The stock has a market capitalization of C$39.84 billion, a P/E ratio of 8.53, a P/E/G ratio of 0.09 and a beta of 2.63. Cenovus Energy has a 52-week low of C$19.82 and a 52-week high of C$29.96.

Wall Street Analyst Weigh In

CVE has been the subject of a number of research reports. Raymond James reduced their price objective on Cenovus Energy from C$33.00 to C$32.00 in a research report on Tuesday, October 15th. TD Securities raised shares of Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 3rd. National Bankshares dropped their price objective on shares of Cenovus Energy from C$38.00 to C$31.00 in a report on Friday, September 27th. Royal Bank of Canada reduced their target price on shares of Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, Jefferies Financial Group dropped their price target on shares of Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$31.90.

Insider Activity at Cenovus Energy

In related news, Senior Officer Geoffrey Murray bought 3,200 shares of the stock in a transaction dated Tuesday, September 17th. The shares were purchased at an average price of C$22.54 per share, with a total value of C$72,112.00. Also, Senior Officer Jonathan Michael Mckenzie bought 100,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were bought at an average cost of C$22.25 per share, with a total value of C$2,225,000.00. In the last quarter, insiders have bought 107,700 shares of company stock worth $2,398,232. 32.03% of the stock is owned by corporate insiders.

Cenovus Energy Company Profile

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.