Cenovus Energy (TSE:CVE) Reaches New 12-Month Low - Time to Sell?

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CVE. BMO Capital Markets reduced their price target on shares of Cenovus Energy from C$28.00 to C$25.00 in a research report on Friday, December 13th. Jefferies Financial Group reduced their target price on shares of Cenovus Energy from C$32.00 to C$30.00 in a report on Thursday, January 30th. TD Securities lowered their price objective on Cenovus Energy from C$31.00 to C$29.00 and set a "buy" rating for the company in a research report on Friday, December 13th. Raymond James raised their target price on Cenovus Energy from C$32.00 to C$33.00 in a research note on Friday, December 13th. Finally, National Bankshares reduced their price target on shares of Cenovus Energy from C$29.00 to C$28.00 and set an "outperform" rating on the stock in a research report on Thursday, January 30th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of C$30.33.

Cenovus Energy Price Performance

The firm has a fifty day moving average price of C$21.54 and a two-hundred day moving average price of C$23.16. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 33.34. The stock has a market capitalization of C$39.34 billion, a P/E ratio of 8.43, a P/E/G ratio of 0.09 and a beta of 2.63.

Cenovus Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.72 annualized dividend and a yield of 3.40%. Cenovus Energy's dividend payout ratio (DPR) is presently 28.69%.

Insider Activity at Cenovus Energy

In other Cenovus Energy news, insider Cenovus Energy Inc. purchased 44,700 shares of the firm's stock in a transaction on Monday, December 2nd. The shares were acquired at an average cost of C$22.07 per share, for a total transaction of C$986,658.63. Also, Senior Officer Jeffery George Lawson purchased 4,600 shares of the business's stock in a transaction on Friday, December 13th. The shares were bought at an average cost of C$21.74 per share, with a total value of C$100,004.00. Insiders have acquired 54,800 shares of company stock valued at $1,203,070 over the last ninety days. Insiders own 32.03% of the company's stock.

About Cenovus Energy

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.