Cenovus Energy Inc. (NYSE:CVE) has a beta value of 2.92 and has seen 4,809,751 shares traded in the last trading session. The company, currently valued at $4.51 Billion, closed the last trade at $3.65 per share which meant it lost -$0.18 on the day or -4.7% during that session. The CVE stock price is -188.22% off its 52-week high price of $10.52 and 61.37% above the 52-week low of $1.41. If we look at the company’s 10-day average daily trading volume, we find that it stood at 4.67 Million shares traded. The 3-month trading volume is 4.92 Million shares.
The consensus among analysts is that Cenovus Energy Inc. (CVE) is an Overweight stock at the moment, with a recommendation rating of 2.5. 2 analysts rate the stock as a Sell, while 1 rate it as Overweight. 8 out of 21 have rated it as a Hold, with 10 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is -$0.02.
Cenovus Energy Inc. (NYSE:CVE) trade information
Despite being -4.7% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Monday, Oct 12 when the CVE stock price touched $4.10-1 or saw a rise of 10.98%. Year-to-date, Cenovus Energy Inc. shares have moved -64.04%, while the 5-day performance has seen it change -9.88%. Over the past 30 days, the shares of Cenovus Energy Inc. (NYSE:CVE) have changed -16.09%. Short interest in the company has seen 19Million shares shorted with days to cover at 3.86.
Wall Street analysts have a consensus price target for the stock at $5.56, which means that the shares’ value could jump 52.33% from current levels. The projected low price target is $4.47 while the price target rests at a high of $8.37. In that case, then, we find that the current price level is +129.32% off the targeted high while a plunge would see the stock lose 22.47% from current levels.
Cenovus Energy Inc. (CVE) estimates and forecasts
Figures show that Cenovus Energy Inc. shares have underperformed across the wider relevant industry. The company’s shares have gained +38.78% over the past 6 months, with this year growth rate of -475%, compared to -3.2% for the industry. Other than that, the company has, however, increased its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are 50% and -78.6% for the next quarter. Revenue growth from the last financial year stood is estimated to be +10.6%.
3 analysts offering their estimates for the company have set an average revenue estimate of $3.57 Billion for the current quarter. 3 have an estimated revenue figure of $3.53 Billion for the next quarter concluding in June 01, 2018. Year-ago sales stood $3.04 Billion and $3.18 Billion respectively for this quarter and the next, and analysts expect sales will grow by 17.5% for the current quarter and 11.2% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +12.7% over the past 5 years. Earnings growth for 2020 is a modest +175.2%.
Cenovus Energy Inc. (NYSE:CVE)’s Major holders
Insiders own 17.07% of the company shares, while shares held by institutions stand at 65.53% with a share float percentage of 79.01%. Investors are also buoyed by the number of investors in a company, with Cenovus Energy Inc. having a total of 456 institutions that hold shares in the company. The top two institutional holders are ConocoPhillips with over 208Million shares worth more than $971.36 Million. As of June 29, 2020, ConocoPhillips held 16.93% of shares outstanding.
The other major institutional holder is Capital Research Global Investors, with the holding of over 106.42 Million shares as of June 29, 2020. The firm’s total holdings are worth over $496.98 Million and represent 8.66% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Europacific Growth Fund and Oakmark International Fund. As of June 29, 2020, the former fund manager holds about 5.68% shares in the company for having 69773357 shares of worth $325.84 Million while later fund manager owns 65.75 Million shares of worth $307.05 Million as of June 29, 2020, which makes it owner of about 5.35% of company’s outstanding stock.