Cenovus Energy (TSE:CVE) Reaches New 12-Month Low - Should You Sell?

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

Analysts Set New Price Targets

CVE has been the subject of a number of research analyst reports. TD Securities reduced their price objective on shares of 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. 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. National Bankshares decreased 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 note on Thursday, January 30th. Raymond James raised their price objective on shares of Cenovus Energy from C$32.00 to C$33.00 in a research report on Friday, December 13th. Finally, Royal Bank of Canada decreased their target price on Cenovus Energy from C$28.00 to C$26.00 in a research report on Tuesday, January 14th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of C$30.33.

Cenovus Energy Trading Up 0.3 %

The stock has a market cap of C$39.34 billion, a P/E ratio of 8.43, a PEG ratio of 0.09 and a beta of 2.63. 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 business's 50 day simple moving average is C$21.52 and its two-hundred day simple moving average is C$23.08.

Cenovus Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a yield of 3.40%. Cenovus Energy's payout ratio is presently 28.69%.

Insider Activity

In related news, Senior Officer Jeffery George Lawson bought 5,000 shares of Cenovus Energy stock in a transaction that occurred 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. bought 44,700 shares of the firm's stock in a transaction on Monday, December 2nd. The shares were purchased at an average cost of C$22.07 per share, with a total value of C$986,658.63. Over the last three months, insiders have bought 54,800 shares of company stock valued at $1,203,070. 32.03% of the stock is currently owned by corporate insiders.

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.