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

Shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) hit a new 52-week low on Monday . The stock traded as low as $13.76 and last traded at $13.98, with a volume of 173224 shares changing hands. The stock had previously closed at $14.47.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. BMO Capital Markets lowered their price target on shares of Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Royal Bank of Canada restated an “outperform” rating and issued a $28.00 price objective on shares of Cenovus Energy in a report on Monday, January 6th. Finally, StockNews.com lowered shares of Cenovus Energy from a “buy” rating to a “hold” rating in a report on Saturday, December 28th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $30.00.

Cenovus Energy Stock Performance

The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $25.74 billion, a PE ratio of 9.74 and a beta of 1.99. The firm’s fifty day moving average is $15.10 and its 200-day moving average is $16.71.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results on Thursday, October 31st. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.08. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $10.25 billion. Cenovus Energy had a net margin of 6.72% and a return on equity of 12.88%. The business’s revenue for the quarter was down 17.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 earnings per share. As a group, research analysts anticipate that Cenovus Energy Inc. will post 1.36 earnings per share for the current year.

Institutional Trading of Cenovus Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Truvestments Capital LLC acquired a new position in shares of Cenovus Energy during the third quarter worth about $25,000. Blue Trust Inc. grew its position in shares of Cenovus Energy by 640.3% during the third quarter. Blue Trust Inc. now owns 3,065 shares of the oil and gas company’s stock worth $51,000 after buying an additional 2,651 shares in the last quarter. Sierra Ocean LLC acquired a new position in shares of Cenovus Energy during the fourth quarter worth about $67,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Cenovus Energy by 8.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,648 shares of the oil and gas company’s stock worth $170,000 after buying an additional 643 shares in the last quarter. Finally, SevenBridge Financial Group LLC acquired a new position in shares of Cenovus Energy during the third quarter worth about $162,000. 51.19% of the stock is currently owned by hedge funds and other institutional investors.

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.