Cenovus Energy (TSE:CVE) Sets New 12-Month Low - Here's What Happened

Cenovus Energy Inc. (TSE:CVE - Get Free Report) NYSE: CVE shares hit a new 52-week low during trading on Monday . The company traded as low as C$19.53 and last traded at C$19.72, with a volume of 1188941 shares traded. The stock had previously closed at C$20.01.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets lowered their target price on Cenovus Energy from C$28.00 to C$25.00 in a research note on Friday, December 13th. Raymond James increased their price objective on shares of Cenovus Energy from C$32.00 to C$33.00 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 research report on Thursday, January 30th. National Bankshares lowered shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating and lowered their price target for the company from C$28.00 to C$25.00 in a report on Friday, February 21st. Finally, National Bank Financial downgraded shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 20th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$29.89.

Cenovus Energy Trading Down 0.3 %

The firm has a market cap of C$32.19 billion, a price-to-earnings ratio of 8.71, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63. The business's 50 day moving average price is C$21.31 and its 200-day moving average price is C$22.46. The company has a debt-to-equity ratio of 33.59, a quick ratio of 1.00 and a current ratio of 1.59.

Cenovus Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 4.07%. The ex-dividend date was Friday, December 13th. Cenovus Energy's dividend payout ratio (DPR) is presently 35.49%.

Insiders Place Their Bets

In other Cenovus Energy news, Senior Officer Jeffery George Lawson bought 5,000 shares of the business's stock in a transaction on Friday, December 27th. The shares were purchased at an average price of C$21.17 per share, with a total value of C$105,832.00. Also, Senior Officer Karamjit Singh Sandhar bought 6,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of C$17.97 per share, with a total value of C$107,808.00. Insiders acquired a total of 32,050 shares of company stock valued at $656,738 over the last 90 days. 32.03% of the stock is 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.