Cenovus Energy (TSE:CVE) Hits New 52-Week Low – Time to Sell?

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE)’s share price hit a new 52-week low during trading on Monday . The company traded as low as C$20.16 and last traded at C$20.50, with a volume of 3157287 shares traded. The stock had previously closed at C$21.02.

Analyst Ratings Changes

Several analysts have weighed in on CVE shares. Jefferies Financial Group lowered their price objective on Cenovus Energy from C$32.00 to C$30.00 in a research report on Thursday, January 30th. BMO Capital Markets dropped their price target on shares of Cenovus Energy from C$28.00 to C$25.00 in a research report on Friday, December 13th. TD Securities decreased their price objective on shares of Cenovus Energy from C$31.00 to C$29.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Raymond James increased their target price on shares of Cenovus Energy from C$32.00 to C$33.00 in a report on Friday, December 13th. Finally, Royal Bank of Canada reduced their price target on Cenovus Energy from C$28.00 to C$26.00 in a report on Tuesday, January 14th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of C$30.33.

Cenovus Energy Price Performance

The company has a debt-to-equity ratio of 33.34, a current ratio of 1.66 and a quick ratio of 1.00. The business’s 50 day moving average price is C$21.57 and its 200 day moving average price is C$23.25. The stock has a market capitalization of C$40.14 billion, a P/E ratio of 8.60, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63.

Cenovus Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.18 per share. The ex-dividend date was Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a yield of 3.34%. Cenovus Energy’s dividend payout ratio is presently 28.69%.

Insider Activity

In other Cenovus Energy news, Senior Officer Jeffery George Lawson purchased 5,000 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were acquired at an average cost of C$21.17 per share, for a total transaction of C$105,832.00. Also, insider Cenovus Energy Inc. acquired 44,700 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were acquired at an average cost of C$22.07 per share, with a total value of C$986,658.63. Insiders have bought 54,800 shares of company stock valued at $1,203,070 in the last ninety days. 32.03% of the stock is currently owned by company insiders.

Cenovus Energy Company Profile

Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 472 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds 6.7 billion boe of proven and probable reserves.