Public market insider buying at Cenovus Energy (CVE)

Public market insider buying at Cenovus Energy (T:CVE)

Keith A.J. MacPhail, a Director, acquired 34,000 Common Shares on a direct ownership basis at a price of $3.860 on April 9th, 2020. This represents a $131,240 investment into the company's shares and an account share holdings change of 12.5%.

Cenovus Energy is in the Integrated Oil & Gas Sub Industry Group under the Energy Sector.

Cenovus Energy Inc is a Canada-based integrated oil and natural gas company. The Company's operations, include oil sands projects in northern Alberta and oil production in Alberta and British Columbia. The Company is owner of two projects that are producing oil, Christina Lake and Foster Creek. The oil sands projects use a drilling method called steam-assisted gravity drainage or SAGD for short. The SAGD process uses natural gas to heat water into steam, which helps The Company to extract the oil out of the oil sands. The company also holds interest in two United States refineries, Wood River located in Roxana Illinois and Borger located in Borger Texas. Cenovus Energy Inc. (CVE) has below median officer and director direct ownership compared to its mid-cap peers in the market, based on our estimate using SEDI data. According to regulatory filings yesterday, one insider has invested a total amount of $131,240.