Alex Pourbaix Sells 200,000 Shares of Cenovus Energy Inc. (TSE:CVE) Stock

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) Director Alex Pourbaix sold 200,000 shares of the stock in a transaction on Wednesday, June 19th. The shares were sold at an average price of C$25.58, for a total value of C$5,115,360.00.

Alex Pourbaix also recently made the following trade(s):

• On Monday, June 17th, Alex Pourbaix sold 200,000 shares of Cenovus Energy stock. The shares were sold at an average price of C$25.14, for a total value of C$5,028,880.00.

Cenovus Energy Stock Performance

Shares of CVE stock opened at C$25.75 on Friday. The firm has a market capitalization of C$48.15 billion, a price-to-earnings ratio of 10.34, a price-to-earnings-growth ratio of 0.09 and a beta of 2.77. The company has a debt-to-equity ratio of 33.03, a current ratio of 1.70 and a quick ratio of 1.00. The business has a fifty day moving average of C$27.60 and a 200 day moving average of C$24.86. Cenovus Energy Inc. has a 1 year low of C$19.82 and a 1 year high of C$29.96.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last issued its earnings results on Wednesday, May 1st. The company reported C$0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.47 by C$0.15. The company had revenue of C$13.40 billion during the quarter, compared to analyst estimates of C$13.71 billion. Cenovus Energy had a return on equity of 16.11% and a net margin of 8.72%. As a group, research analysts expect that Cenovus Energy Inc. will post 2.7840467 earnings per share for the current year.

Cenovus Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 28th will be paid a $0.18 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.72 dividend on an annualized basis and a yield of 2.80%. Cenovus Energy’s dividend payout ratio (DPR) is 29.72%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Jefferies Financial Group increased their target price on Cenovus Energy from C$28.00 to C$36.00 and gave the company a “buy” rating in a research report on Friday, April 12th. CIBC raised their price objective 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. BMO Capital Markets raised their price objective on Cenovus Energy from C$29.00 to C$33.00 in a research report on Thursday, March 28th. 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. Finally, Raymond James set a C$33.00 price objective on Cenovus Energy and gave the stock an “outperform” rating in a research report on Wednesday, May 29th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cenovus Energy currently has an average rating of “Moderate Buy” and an average price target of C$33.50.

About Cenovus Energy

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.