Cenovus Energy Inc. (NYSE:CVE) does about 6.51M shares in volume on a normal day but saw 7371161 shares change hands in Monday trading. The company now has a market cap of 36.40B USD. Its current market price is $19.20, marking an increase of 0.84% compared to the previous close of $19.04. The 52 week high reached by this stock is $24.81 whilst the lowest price level in 52 weeks is $12.96. The script in recent trading has seen the stock touch a high of $19.24 and a low of $18.915.
Cenovus Energy Inc. (CVE) has a 20-day trading average at $18.91 and the current price is -22.61% off the 52-week high compared with 48.20% distance from its 52-week low. The 50-day simple moving average of the closing price is $19.26 and its 200-day simple moving average is $18.96. If we look at the stock’s price movements over the week, volatility stands at 4.17%, which decreases to 3.92% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 52.83 to suggest the stock is neutral.
19 analysts observing the Cenovus Energy Inc. (CVE) stock have set the 12-month price targets for the company’s shares at between $19.29 and $27.82. The consensus objective for the share price is $24.61, suggesting that the stock has a potential upside of 21.98% over the period. The median price target is 21.05% away from the current levels at $24.32.
FactSet Research has provided data showing that 19 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 1 advise that it is a overweight. 15 analysts have rated it as a buy and 2 have advised that investors hold their positions. The consensus recommendation rating is Buy and Wall Street’s advice is for investors to Moderate Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on November 21, 2022 when Goldman downgraded the stock to “Neutral” and issued a price target of $23.
The current price level is 1.57%, -0.45%, and 1.67% away from its SMA20, SMA50, and SMA200 respectively, with the CVE price moving above the 50-day SMA on January 23. Cenovus Energy Inc. (CVE) stock is down -0.67% over the week and 4.52% over the past month. Its price is -1.08% year-to-date and 30.97% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/29/2022, with the company’s earnings per share (EPS) of $0.88 above consensus estimates by $0.1. The company’s next earnings report is expected on 04/26/2023, with forecasts estimating quarterly EPS at $0.72 and $2.97 for whole year. CVE’s earnings per share are forecast to grow by 1,314.30% this year and 2.40% over next year. Expected sales for next quarter are $11.6 billion, which analysts say will come at $52.67 billion for the current fiscal year and next year at $49.89 billion. In addition, estimates put the company’s current quarterly revenue at an average of $11.46 billion.
Its 12-month price target is $24.32. To reach the target analysts have set, the stock logically needs to grow 21.98 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $19.29, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $27.82.
Outstanding shares total 1.93B with insiders holding 28.65% of the shares and institutional holders owning 52.77% of the company’s common stock. The company has a return on investment of 6.30% and return on equity of 20.90%. The price to earnings ratio (P/E ratio) amounts to 9.98 while the forward price to earnings ratio is 5.59. The beta has a value of 2.30. Price to book ratio is 1.83 and price to sales ratio is 0.73.
According to a U.S. Securities and Exchange Commission filing, American Funds Growth Fund of Ame has added its position in Cenovus Energy Inc. (CVE) to 82,607,238 shares, mirroring a recent increase by 7.15%. American Funds Growth Fund of Ame added 5.52 million shares of Cenovus Energy Inc. common stock bringing its total worth to about $1.6 billion at the end of recent close, SEC documents show. American Funds Growth Fund of Ame isn’t the only investment manager who changed stakes and is followed by American Funds EuroPacific Growth, which added 3.3 million shares to end up with 67,860,806 shares worth $1.32 billion. American Funds New Perspective Fu raise their holdings by 45.55% in the company over the course of the most recent quarter. It now holds a 2.01% position in Cenovus Energy Inc. thanks to 38.48 million shares amounting to $746.95 million.