Cenovus Energy (TSE:CVE) Stock Crosses Below 200 Day Moving Average – What’s Next?

Shares of Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 traded.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CVE. Raymond James upped their price objective on shares of Cenovus Energy from C$32.00 to C$33.00 in a research note on Friday. National Bankshares dropped their target price on Cenovus Energy from C$38.00 to C$31.00 in a research report on Friday, September 27th. Jefferies Financial Group reduced their price target on Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating for the company in a research report on Monday, September 16th. BMO Capital Markets dropped their price objective on Cenovus Energy from C$28.00 to C$25.00 in a research report on Friday. Finally, Royal Bank of Canada reduced their target price on shares of Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of C$31.50.

Cenovus Energy Trading Up 1.9 %

The stock’s fifty 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 firm has a market cap of C$40.38 billion, a PE ratio of 8.65, a PEG ratio of 0.09 and a beta of 2.63.

Cenovus Energy Announces Dividend

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

Insider Transactions at Cenovus Energy

In other news, Senior Officer Jeffery George Lawson acquired 4,600 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were bought at an average price 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 dated Tuesday, September 17th. The stock was acquired at an average price of C$22.54 per share, with a total value of C$72,112.00. Insiders have acquired 12,300 shares of company stock worth $273,236 over the last 90 days. 32.03% of the stock is currently owned by company insiders.

About Cenovus Energy

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.