Cenovus Energy (TSE:CVE) Stock Passes Below Two Hundred Day Moving Average of $0.00

Cenovus Energy Inc (TSE:CVE) (NYSE:CVE)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.00 and traded as low as $11.13. Cenovus Energy shares last traded at $11.62, with a volume of 2,444,595 shares changing hands.

Several analysts recently weighed in on the stock. CIBC upgraded shares of Cenovus Energy from a “neutral” rating to an “outperform” rating and lifted their target price for the company from C$16.00 to C$16.50 in a report on Thursday, July 18th. National Bank Financial raised their price target on shares of Cenovus Energy from C$15.50 to C$16.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. raised their price target on shares of Cenovus Energy from C$15.00 to C$16.00 in a research report on Thursday, April 25th. GMP Securities decreased their price target on shares of Cenovus Energy from C$15.00 to C$14.50 in a research report on Friday, July 26th. Finally, Cormark raised their price target on shares of Cenovus Energy from C$12.50 to C$14.50 in a research report on Tuesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of C$14.57.

The company has a debt-to-equity ratio of 45.66, a quick ratio of 0.53 and a current ratio of 1.02. The firm has a market capitalization of $13.71 billion and a P/E ratio of 47.69. The business’s 50-day moving average is C$11.87.



The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.20 annualized dividend and a dividend yield of 1.73%. Cenovus Energy’s dividend payout ratio (DPR) is currently 82.64%.

About Cenovus Energy (TSE:CVE)

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake.

Further Reading: How to invest in a bear market

Receive News & Ratings for Cenovus Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cenovus Energy and related companies with MarketBeat.com's FREE daily email newsletter.