Cenovus Energy Inc. (TSE:CVE) Senior Officer Karamjit Singh Sandhar Sells 59,000 Shares

Cenovus Energy Inc. (TSE:CVEGet Rating) (NYSE:CVE) Senior Officer Karamjit Singh Sandhar sold 59,000 shares of the firm’s stock in a transaction dated Friday, May 6th. The shares were sold at an average price of C$26.28, for a total value of C$1,550,520.00. Following the transaction, the insider now owns 37,591 shares of the company’s stock, valued at C$987,891.48.

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

  • On Monday, May 9th, Karamjit Singh Sandhar acquired 6,000 shares of Cenovus Energy stock. The stock was purchased at an average price of C$24.89 per share, with a total value of C$149,369.40.

Shares of CVE stock traded down C$2.06 during trading hours on Monday, hitting C$24.22. The company had a trading volume of 6,695,468 shares, compared to its average volume of 8,512,489. Cenovus Energy Inc. has a 12 month low of C$8.89 and a 12 month high of C$26.37. The firm has a market capitalization of C$48.00 billion and a price-to-earnings ratio of 25.42. The firm’s fifty day moving average is C$21.45 and its 200 day moving average is C$18.48. The company has a debt-to-equity ratio of 59.74, a quick ratio of 1.03 and a current ratio of 1.60.

Cenovus Energy (TSE:CVEGet Rating) (NYSE:CVE) last released its quarterly earnings results on Tuesday, February 8th. The company reported C$0.54 EPS for the quarter, topping analysts’ consensus estimates of C$0.51 by C$0.03. The business had revenue of C$13.73 billion for the quarter, compared to the consensus estimate of C$11.89 billion. On average, sell-side analysts expect that Cenovus Energy Inc. will post 3.3299998 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th will be paid a $0.105 dividend. The ex-dividend date is Tuesday, June 14th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.73%. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.04. Cenovus Energy’s dividend payout ratio is 10.96%.

CVE has been the subject of several analyst reports. CSFB upped their price target on Cenovus Energy from C$28.00 to C$32.00 in a research note on Monday. ATB Capital upped their target price on Cenovus Energy from C$31.00 to C$33.00 and gave the company an “outperform” rating in a report on Thursday, April 28th. BMO Capital Markets increased their price objective on Cenovus Energy from C$26.00 to C$30.00 in a research note on Thursday, April 28th. CIBC increased their target price on Cenovus Energy from C$28.00 to C$30.00 in a research report on Thursday, April 14th. Finally, Tudor Pickering & Holt set a C$22.00 target price on Cenovus Energy and gave the stock a “buy” rating in a research report on Tuesday, February 8th. Fifteen analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$24.03.

About Cenovus Energy (Get Rating)

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada, the United States, and the Asia Pacific region. The company operates through Oil Sands, Conventional, Offshore, Canadian Manufacturing, U.S. Manufacturing, and Retail segments.

Read More

Insider Buying and Selling by Quarter for Cenovus Energy (TSE:CVE)

Receive News & Ratings for Cenovus Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cenovus Energy and related companies with MarketBeat.com's FREE daily email newsletter.