In the last trading session, 1,040,000,000 shares of the Cenovus Energy Inc. (NYSE:CVE) were traded, and its beta was 3.24. Most recently the company’s share price was $7.71, and it changed around $0.12 or 0.02% from the last close, which brings the market valuation of the company to $15.51 Billion. CVE currently trades at a discount to its 52-week high of $8.57, offering almost -11.15% off that amount. The share price’s 52-week low was $2.39, which indicates that the current value has risen by an impressive 69% since then. We note from Cenovus Energy Inc.’s average daily trading volume that its 10-day average is 7.63 Million shares, with the 3-month average coming to 10.55 Million.
Cenovus Energy Inc. stock received a consensus recommendation rating of Overweight, based on a mean score of 2.5. If we narrow it down even further, the data shows that 1 out of 19 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 6 recommended CVE as a Hold, whereas 11 deemed it a Buy, and no one rated it as Underweight. Cenovus Energy Inc. is expected to report earnings per share of -$0.02 for the current quarter.
Cenovus Energy Inc. (NYSE:CVE): Trading Information
Instantly CVE has showed a green trend with a performance of 1.58% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $7.93- on Tuesday, Apr 06 increased the stock’s daily price by 2.77%. The company’s shares are currently up 0.28% year-to-date, but still up 0.0158 over the last five days. On the other hand, Cenovus Energy Inc. (NYSE:CVE) is -0.06% down in the 30-day period. We can see from the shorts that 8.77 Million shares have been sold at a short interest cover period of 0.83 day (s).
The consensus price target as assigned by Wall Street analysts is $9.64, which translates to bears needing to increase their stock price by 25.03% from its current value. Analyst projections state that CVE is forecast to be at a low of $5.47 and a high of $12.64. In order for the stock price to hit the forecast high, the stock would need to surge +63.94% from its current level, while the stock would need to crash -29.05% from its current level to reach the projected low.
Cenovus Energy Inc. (CVE) projections and forecasts
Cenovus Energy Inc. share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +112.4 percent over the past six months and at a -139.62% annual growth rate that is well below the industry average of 28.4%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +50% in revenue this quarter, and will report a decline of -78.6% in the next quarter. The year-over-year growth rate is expected to be 10.6%, up from the previous year.
Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $3.57 Billion in revenue for the current quarter. 3 analysts expect Cenovus Energy Inc. to make $3.53 Billion in revenue for the quarter ending in May 2021. The company’s sales for the same quarters a year ago were $3.04 Billion and $3.18 Billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 17.5%. Forecasts for the next quarter put sales growth at 11.2%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -30.1%. Cenovus Energy Inc. earnings are expected to decrease by -208.5% in 2021, but the outlook is positive 3.19% per year for the next five years.
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CVE Dividend Yield
The annual dividend yield of the stock is 0.76 percent and its annual dividend per share was $0.06. It is important to note, however, that the 0.76% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 2.01% per year.
Cenovus Energy Inc. (NYSE:CVE)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 37.6% of Cenovus Energy Inc. shares, and 41.56% of them are in the hands of institutional investors. The stock currently has a share float of 66.61%. Cenovus Energy Inc. stock is held by 406 institutions, with ConocoPhillips being the largest institutional investor. By Dec 30, 2020, it held 10.31% of the shares, which is about 208Million shares worth $1.26 Billion.
Capital Research Global Investors, with 7.22% or 145.74 Million shares worth $880.27 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
Europacific Growth Fund and Oakmark International Fund were the top two Mutual Funds as of Dec 30, 2020. The former held 74358045 shares worth $449.12 Million, making up 3.69% of all outstanding shares. On the other hand, Oakmark International Fund held roughly 71.45 Million shares worth around $431.58 Million, which represents about 3.54% of the total shares outstanding.