During the recent session, Cenovus Energy Inc. (NYSE:CVE)’s traded shares were 2.37 million, with the beta value of the company hitting 3.23. At the last check today, the stock’s price was $7.99, reflecting an intraday loss of -1.30% or -$0.1. The 52-week high for the CVE share is $10.55, that puts it down -32.04 from that peak though still a striking 60.58% gain since the share price plummeted to a 52-week low of $3.15. The company’s market capitalization is $17.23B, and the average intraday trading volume over the past 10 days was 9.88 million shares, and the average trade volume was 9.92 million shares over the past three months.
Cenovus Energy Inc. (CVE) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 2.50. CVE has a Sell rating from 0 analyst(s) out of 19 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 16 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.02.
Cenovus Energy Inc. (NYSE:CVE) trade information
Cenovus Energy Inc. (CVE) registered a -1.30% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -1.30% in intraday trading to $7.99 this Wednesday, 07/21/21, hitting a weekly high. The stock’s 5-day price performance is -6.26%, and it has moved by -19.26% in 30 days. Based on these gigs, the overall price performance for the year is 64.10%. The short interest in Cenovus Energy Inc. (NYSE:CVE) is 11.6 million shares and it means that shorts have 1.24 day(s) to cover.
The consensus price target of analysts on Wall Street is $12.39, which implies an increase of 35.51% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $9.56 and $17.63 respectively. As a result, CVE is trading at a discount of -120.65% off the target high and -19.65% off the low.
Cenovus Energy Inc. (CVE) estimates and forecasts
Statistics show that Cenovus Energy Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Cenovus Energy Inc. (CVE) shares have gone up 30.48% during the last six months, with a year-to-date growth rate more than the industry average at 155.35% against 38.60. Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to grow 50.00% this quarter and then drop -78.60% in the quarter after that. In the rating firms’ projections, revenue will increase 10.60% compared to the previous financial year.
Revenue for the current quarter is expected to be $3.57 billion as predicted by 3 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to $3.53 billion by the end of Jun 2018. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $3.04 billion and $3.18 billion respectively. In this case, analysts expect current quarter sales to grow by 17.50% and then jump by 11.20% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -30.10%. While earnings are projected to return -208.50% in 2021.
Cenovus Energy Inc. is due to release its next quarterly earnings between July 21 and July 26. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Cenovus Energy Inc. is 0.03, with the dividend yield indicating at 0.37 percent, continuing the trend of increasing dividends in recent years. The average dividend yield of the company for the last 5 years is 1.91%.
Cenovus Energy Inc. (NYSE:CVE)’s Major holders
Cenovus Energy Inc. insiders own 37.04% of total outstanding shares while institutional holders control 45.77%, with the float percentage being 72.69%. Capital Research Global Investors is the largest shareholder of the company, while 436 institutions own stock in it. As of Mar 30, 2021, the company held over 215.79 million shares (or 10.70% of all shares), a total value of $1.62 billion in shares.
The next largest institutional holding, with 208.0 million shares, is of ConocoPhillips’s that is approximately 10.31% of outstanding shares. At the market price on Mar 30, 2021, these shares were valued at $1.56 billion.
Also, the Mutual Funds coming in first place with the largest holdings of Cenovus Energy Inc. (CVE) shares are Growth Fund Of America Inc and Europacific Growth Fund. Data provided on Mar 30, 2021 indicates that Growth Fund Of America Inc owns about 125.92 million shares. This amounts to just over 6.24 percent of the company’s overall shares, with a $946.94 million market value. The same data shows that the other fund manager holds slightly less at 74.36 million, or about 3.69% of the stock, which is worth about $449.12 million.