Cenovus Energy (TSE:CVE) Stock Crosses Below 200 Day Moving Average – Should You Sell?

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$24.66 and traded as low as C$21.39. Cenovus Energy shares last traded at C$21.49, with a volume of 8,658,214 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have commented on CVE. Jefferies Financial Group reduced their target price on shares of Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. TD Securities reduced 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. BMO Capital Markets lowered their price objective on Cenovus Energy from C$28.00 to C$25.00 in a research report on Friday. Royal Bank of Canada reduced their target price on Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, Raymond James increased their price target on Cenovus Energy from C$32.00 to C$33.00 in a report on Friday. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$31.50.

Cenovus Energy Price Performance

The stock’s 50 day simple moving average is C$22.74 and its 200-day simple moving average is C$24.66. The company has a debt-to-equity ratio of 33.34, a current ratio of 1.66 and a quick ratio of 1.00. The company has a market capitalization of C$40.38 billion, a PE ratio of 8.65, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63.

Cenovus Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.18 per share. The ex-dividend date is Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a yield of 3.32%. Cenovus Energy’s dividend payout ratio (DPR) is presently 28.69%.

Insiders Place Their Bets

In other news, Senior Officer Jeffery George Lawson bought 4,600 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average cost of C$21.74 per share, for a total transaction of C$100,004.00. Also, Senior Officer Geoffrey Murray bought 3,200 shares of Cenovus Energy stock in a transaction that occurred on Tuesday, September 17th. The stock was purchased at an average cost of C$22.54 per share, for a total transaction of C$72,112.00. Insiders acquired a total of 12,300 shares of company stock worth $273,236 over the last 90 days. Corporate insiders own 32.03% of the company’s stock.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.