Cenovus Energy Inc. (NYSE:CVE) has a beta value of 3.21 and has seen 3,014,716 shares traded in the recent trading session. The company, currently valued at $16.12 Billion, closed the recent trade at $7.95 per share which meant it gained $0.18 on the day or 2.34% during that session. The CVE stock price is -7.8% off its 52-week high price of $8.57 and 60.38% above the 52-week low of $3.15. If we look at the company’s 10-day average daily trading volume, we find that it stood at 7.65 Million shares traded. The 3-month trading volume is 9.05 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. 1 analysts rate the stock as a Sell, while 1 rate it as Overweight. 5 out of 19 have rated it as a Hold, with 12 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
Sporting 2.34% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Thursday, Apr 29 when the CVE stock price touched $8.15-2 or saw a rise of 2.52%. Year-to-date, Cenovus Energy Inc. shares have moved 31.54%, while the 5-day performance has seen it change 4.95%. Over the past 30 days, the shares of Cenovus Energy Inc. (NYSE:CVE) have changed 0.95%. Short interest in the company has seen 9.84 Million shares shorted with days to cover at 1.09.
Wall Street analysts have a consensus price target for the stock at $10.15, which means that the shares’ value could jump 27.67% from the levels at last check today. The projected low price target is $5.66 while the price target rests at a high of $12.8. In that case, then, we find that the latest price level in today’s session is +61.01% off the targeted high while a plunge would see the stock lose -28.81% from the levels at last check today.
Cenovus Energy Inc. (CVE) estimates and forecasts
Figures show that Cenovus Energy Inc. shares have outperformed across the wider relevant industry. The company’s shares have gained +126.53% over the past 6 months, with this year growth rate of 135.22%, compared to 28.4% for the industry. Other than that, the company has, however, increased its growth outlook for the 2021 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 -30.1% over the past 5 years. Earnings growth for 2021 is a modest -208.5% while over the next 5 years, the company’s earnings are expected to increase by 3.26%.
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Cenovus Energy Inc. is expected to release its next earnings report between May 07 and May 07 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.06 at a share yield of 0.75%. The company’s dividend yield has gone up over the past 12 months, with a 5 Year Average Dividend Yield of 1.96%.
Cenovus Energy Inc. (NYSE:CVE)’s Major holders
Insiders own 37.6% of the company shares, while shares held by institutions stand at 41.42% with a share float percentage of 66.38%. Investors are also buoyed by the number of investors in a company, with Cenovus Energy Inc. having a total of 410 institutions that hold shares in the company. The top two institutional holders are ConocoPhillips with over 208Million shares worth more than $1.56 Billion. As of March 30, 2021, ConocoPhillips held 10.31% of shares outstanding.
The other major institutional holder is Capital Research Global Investors, with the holding of over 145.74 Million shares as of December 30, 2020. The firm’s total holdings are worth over $880.27 Million and represent 7.22% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Growth Fund Of America Inc and Europacific Growth Fund. As of March 30, 2021, the former fund manager holds about 6.24% shares in the company for having 126000000 shares of worth $946.94 Million while later fund manager owns 74.27 Million shares of worth $558.49 Million as of March 30, 2021, which makes it owner of about 3.68% of company’s outstanding stock.