Karamjit Singh Sandhar Purchases 6,000 Shares of Cenovus Energy Inc. (TSE:CVE) Stock

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) Senior Officer Karamjit Singh Sandhar bought 6,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was purchased at an average cost of C$17.97 per share, with a total value of C$107,808.00.

Karamjit Singh Sandhar also recently made the following trade(s):

• On Wednesday, February 26th, Karamjit Singh Sandhar purchased 5,000 shares of Cenovus Energy stock. The shares were acquired at an average cost of C$20.05 per share, for a total transaction of C$100,250.00.

Cenovus Energy Trading Down 2.8 %

TSE:CVE traded down C$0.52 during mid-day trading on Tuesday, reaching C$17.95. 5,834,730 shares of the company’s stock traded hands, compared to its average volume of 5,031,293. The company has a 50 day moving average price of C$21.38 and a 200-day moving average price of C$22.52. The firm has a market capitalization of C$32.70 billion, a price-to-earnings ratio of 8.85, a PEG ratio of 0.09 and a beta of 2.63. The company has a debt-to-equity ratio of 33.59, a current ratio of 1.59 and a quick ratio of 1.00. Cenovus Energy Inc. has a 12-month low of C$17.52 and a 12-month high of C$29.96.

Cenovus Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.01%. Cenovus Energy’s dividend payout ratio is presently 35.49%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CVE shares. Jefferies Financial Group reduced their target price on shares of Cenovus Energy from C$32.00 to C$30.00 in a report on Thursday, January 30th. Royal Bank of Canada reduced their price objective on Cenovus Energy from C$28.00 to C$26.00 in a research note on Tuesday, January 14th. National Bank Financial downgraded Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 20th. Raymond James increased their target price on Cenovus Energy from C$32.00 to C$33.00 in a report on Friday, December 13th. Finally, BMO Capital Markets decreased their price target on Cenovus Energy from C$28.00 to C$25.00 in a research note on Friday, December 13th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$29.89.

Cenovus Energy Company Profile

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.