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

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) insider Jonathan Michael Mckenzie sold 69,387 shares of Cenovus Energy stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of C$39.51, for a total transaction of C$2,741,480.37. Following the completion of the transaction, the insider owned 1,143,824 shares of the company’s stock, valued at 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 shares were sold at an average price of C$38.72, for a total transaction of C$2,323,200.00.

Cenovus Energy Trading Down 1.0%

Shares of CVE opened at C$38.60 on Friday. The stock has a fifty day moving average price of C$37.68 and a two-hundred day moving average price of C$30.43. The company has a debt-to-equity ratio of 42.29, a quick ratio of 1.00 and a current ratio of 1.57. Cenovus Energy Inc. has a 52-week low of C$17.61 and a 52-week high of C$44.13. The company has a market cap of C$71.98 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 0.09 and a beta of 0.23.

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

Cenovus Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were given a $0.20 dividend. The ex-dividend date was Friday, March 13th. This represents a $0.80 annualized dividend and a yield of 2.1%. Cenovus Energy’s payout ratio is presently 31.87%.

Analyst Ratings Changes

Several equities analysts have issued reports on CVE shares. Jefferies Financial Group lifted their price objective on Cenovus Energy from C$30.00 to C$37.00 in a research report on Monday, March 16th. Gerdes Energy Research downgraded Cenovus Energy from a “buy” rating to a “neutral” rating in a research report on Friday, March 20th. Raymond James Financial cut shares of Cenovus Energy from a “strong-buy” rating to a “moderate buy” rating and boosted their price objective for the stock from C$41.00 to C$42.00 in a research report on Wednesday, May 6th. Scotia boosted their price objective on shares of 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, JPMorgan Chase & Co. boosted their price objective on shares of Cenovus Energy from C$25.00 to C$41.00 in a research report on Tuesday, April 14th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus 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.