Insider Buying: Cenovus Energy Inc. (TSE:CVE) Senior Officer Acquires C$95,235.00 in Stock

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) Senior Officer Jeffery George Lawson purchased 3,500 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of C$27.21 per share, with a total value of C$95,235.00.

Jeffery George Lawson also recently made the following trade(s):

• On Monday, August 12th, Jeffery George Lawson bought 7,500 shares of Cenovus Energy stock. The shares were purchased at an average cost of C$25.98 per share, with a total value of C$194,850.00.
• On Monday, June 17th, Jeffery George Lawson purchased 2,000 shares of Cenovus Energy stock. The stock was purchased at an average cost of C$25.24 per share, for a total transaction of C$50,480.00.

Cenovus Energy Stock Down 1.7 %

TSE:CVE opened at C$26.84 on Monday. The firm has a market capitalization of C$49.92 billion, a P/E ratio of 10.69, a PEG ratio of 0.09 and a beta of 2.67. The company’s fifty day moving average price is C$26.53 and its 200-day moving average price is C$26.35. Cenovus Energy Inc. has a 1-year low of C$19.82 and a 1-year high of C$29.96. The company has a debt-to-equity ratio of 33.34, a current ratio of 1.66 and a quick ratio of 1.00.

Cenovus Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.68%. The ex-dividend date is Friday, September 13th. Cenovus Energy’s dividend payout ratio is currently 28.69%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CVE shares. TD Securities raised their price objective on Cenovus Energy from C$30.00 to C$32.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Desjardins raised their price target on Cenovus Energy from C$31.50 to C$33.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. CIBC upped their price objective on shares of Cenovus Energy from C$31.00 to C$35.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. Scotiabank lowered their target price on shares of Cenovus Energy from C$35.00 to C$34.00 in a research note on Friday, July 12th. Finally, National Bankshares boosted their target price on shares of Cenovus Energy from C$36.00 to C$38.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of C$34.08.

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.