Cenovus Energy (TSE:CVE) Stock Price Crosses Below Two Hundred Day Moving Average - Should You Sell?

Cenovus Energy Inc. (TSE:CVE - Get Free Report) NYSE: CVE passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$22.88 and traded as low as C$21.60. Cenovus Energy shares last traded at C$21.68, with a volume of 3,278,842 shares trading hands.

Analyst Ratings Changes

CVE has been the topic of a number of recent research reports. Jefferies Financial Group dropped their price objective on shares of Cenovus Energy from C$32.00 to C$30.00 in a research note on Thursday, January 30th. TD Securities dropped 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 note on Friday, December 13th. Royal Bank of Canada dropped their price objective on shares of Cenovus Energy from C$28.00 to C$26.00 in a research note on Tuesday, January 14th. National Bankshares lowered shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating and dropped their price objective for the company from C$28.00 to C$25.00 in a research note on Friday. Finally, Raymond James lifted their price objective on shares of Cenovus Energy from C$32.00 to C$33.00 in a research note on Friday, December 13th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of C$30.00.

Cenovus Energy Stock Down 4.2 %

The company has a market cap of C$37.80 billion, a PE ratio of 10.23, a P/E/G ratio of 0.09 and a beta of 2.63. The company has a quick ratio of 1.00, a current ratio of 1.59 and a debt-to-equity ratio of 33.59. The firm's fifty day simple moving average is C$21.54 and its 200-day simple moving average is C$22.77.

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 dividend yield of 3.47%. The ex-dividend date was Friday, December 13th. Cenovus Energy's payout ratio is 35.49%.

Insider Activity at Cenovus Energy

In other news, insider Cenovus Energy Inc. acquired 44,700 shares of Cenovus Energy stock in a transaction that occurred on Monday, December 2nd. The shares were acquired at an average price of C$22.07 per share, with a total value of C$986,658.63. Also, Senior Officer Jeffery George Lawson purchased 5,000 shares of the company's stock in a transaction that occurred on Friday, December 27th. The shares were bought at an average cost of C$21.17 per share, with a total value of C$105,832.00. Over the last 90 days, insiders have bought 65,300 shares of company stock valued at $1,427,360. Company 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.