Cenovus Energy Inc. (TSE:CVE) Plans Dividend Increase – $0.18 Per Share

Cenovus Energy Inc. (TSE:CVEGet Free Report) (NYSE:CVE) announced a quarterly dividend on Wednesday, May 1st, Zacks reports. Stockholders of record on Friday, May 17th will be given a dividend of 0.18 per share on Friday, May 31st. This represents a $0.72 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Thursday, May 16th. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.14.

Cenovus Energy Trading Down 1.4 %

TSE:CVE opened at C$27.55 on Wednesday. Cenovus Energy has a 12 month low of C$19.82 and a 12 month high of C$29.96. The company has a current ratio of 1.70, a quick ratio of 1.00 and a debt-to-equity ratio of 33.03. The stock has a market capitalization of C$51.52 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 0.09 and a beta of 2.78. The firm has a fifty day simple moving average of C$27.49 and a two-hundred day simple moving average of C$24.48.

Cenovus Energy (TSE:CVEGet Free Report) (NYSE:CVE) last issued its earnings results on Thursday, February 15th. The company reported C$0.39 EPS for the quarter, beating the consensus estimate of C$0.33 by C$0.06. Cenovus Energy had a return on equity of 16.11% and a net margin of 8.72%. The company had revenue of C$13.13 billion during the quarter, compared to the consensus estimate of C$13.06 billion. During the same period last year, the business posted $0.39 EPS. Analysts expect that Cenovus Energy will post 2.7862823 EPS for the current fiscal year.

Analyst Ratings Changes

CVE has been the topic of a number of research reports. CIBC upped their target price on Cenovus Energy from C$31.00 to C$35.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. Desjardins upped their price objective on shares of Cenovus Energy from C$29.50 to C$31.50 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Scotiabank decreased their target price on shares of Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating for the company in a research report on Tuesday, January 16th. TD Securities raised their price target on shares of Cenovus Energy from C$30.00 to C$32.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, BMO Capital Markets lifted their price target on Cenovus Energy from C$29.00 to C$33.00 in a research note on Thursday, March 28th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Cenovus Energy has a consensus rating of “Moderate Buy” and a consensus price target of C$33.19.

Read Our Latest Stock Analysis on Cenovus Energy

Insider Buying and Selling

In other news, Senior Officer Andrew Dahlin sold 25,000 shares of Cenovus Energy stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of C$25.99, for a total transaction of C$649,657.50. In other news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of C$29.21, for a total transaction of C$525,835.80. Also, Senior Officer Andrew Dahlin sold 25,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of C$25.99, for a total value of C$649,657.50. Over the last three months, insiders have sold 267,180 shares of company stock worth $7,506,016. 31.50% of the stock is owned by company insiders.

About Cenovus Energy

(Get Free Report)

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.

See Also

Dividend History for Cenovus Energy (TSE:CVE)

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