Cenovus Energy (TSE:CVE) Hits New 12-Month Low – Here’s What Happened

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) hit a new 52-week low during mid-day 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.

Analyst Ratings Changes

CVE has been the topic of several recent research reports. Raymond James boosted their target price on Cenovus Energy from C$32.00 to C$33.00 in a report on Friday, December 13th. Jefferies Financial Group lowered their price objective on Cenovus Energy from C$32.00 to C$30.00 in a research note on Thursday. Royal Bank of Canada dropped their target price on Cenovus Energy from C$28.00 to C$26.00 in a report on Tuesday, January 14th. National Bankshares reduced their price target on Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, TD Securities lowered their price target 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. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$30.33.

Cenovus Energy Trading Down 2.2 %

The company’s fifty day moving average is C$21.61 and its two-hundred day moving average is C$23.32. 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 cap of C$38.24 billion, a price-to-earnings ratio of 8.19, a PEG ratio of 0.09 and a beta of 2.63.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its quarterly earnings data on Thursday, October 31st. The company reported C$0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.46 by C($0.04). Cenovus Energy had a return on equity of 16.69% and a net margin of 8.54%. During the same quarter in the previous year, the firm earned $0.97 EPS. On average, research analysts predict that Cenovus Energy Inc. will post 2.2619279 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend was Friday, December 13th. Cenovus Energy’s dividend payout ratio (DPR) is 28.69%.

Insider Transactions at Cenovus Energy

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