In recent trading session, Cenovus Energy Inc (NYSE:CVE) saw 1.79 million shares changing hands at last check today with its beta currently measuring 2.12. Company’s recent per share price level of $18.01 trading at $0.54 or 3.12% at last check today assigns it a market valuation of $34.17B. That most recent trading price of CVE’s stock is at a discount of -18.66% from its 52-week high price of $21.37 and is indicating a premium of 16.88% from its 52-week low price of $14.97. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 9.78 million shares which gives us an average trading volume of 7.92 million if we extend that period to 3-months.
For Cenovus Energy Inc (CVE), analysts’ consensus is at an average recommendation of a Buy while assigning it a mean rating of 1.16. Splitting up the data highlights that, out of 19 analysts covering the stock, 0 rated the stock as a Sell while 1 recommended an Overweight rating for the stock. 1 suggested the stock as a Hold whereas 17 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.54 in the current quarter.
Cenovus Energy Inc (NYSE:CVE) trade information
Upright in the green today for gaining 3.12%, in the last five days CVE remained trading in the red while hitting it’s week-highest on Tuesday, 11/14/23 when the stock touched $18.01 price level, adding 2.01% to its value on the day. Cenovus Energy Inc’s shares saw a change of -7.19% in year-to-date performance and have moved -0.30% in past 5-day. Cenovus Energy Inc (NYSE:CVE) showed a performance of -14.94% in past 30-days. Number of shares sold short was 38.46 million shares which calculate 5.28 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $24.32 to the stock, which implies a rise of 25.95% to its recent value today. Analysts have been projecting $21.68 as a low price target for the stock while placing it at a high target of $27.80. It follows that stock’s current price would drop -54.36% in reaching the projected high whereas dropping to the targeted low would mean a loss of -20.38% for stock’s current value.
Cenovus Energy Inc (CVE) estimates and forecasts
Statistics highlight that Cenovus Energy Inc is scoring comparatively lower than the scores of other players of the relevant industry. The company added 9.12% of value to its shares in past 6 months, showing an annual growth rate of -30.89% while that of industry is -26.20. Apart from that, the company came lowering its revenue forecast for fiscal year 2023. The company is estimating its revenue growth to increase by 86.20% in the current quarter and calculating 100.00% increase in the next quarter. This year revenue growth is estimated to fall -17.00% from the last financial year’s standing.
2 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $10.39 billion for the same. And 1 analysts are in estimates of company making revenue of $10.26 billion in the next quarter that will end on Mar 2024. Company posted $10.52 billion and $9.31 billion of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to shrink by -1.20% while estimating it to be 10.20% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 8.28% during past 5 years. In 2023, company’s earnings growth rate is likely to be around -20.53% while estimates for its earnings growth in next 5 years are of -8.41%.
Cenovus Energy Inc is more likely to be releasing its next quarterly report between February 16 and February 17 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Cenovus Energy Inc (NYSE:CVE)’s Major holders
Insiders are in possession of 30.83% of company’s total shares while institution are holding 54.77 percent of that, with stock having share float percentage of 79.18%. Investors also watch the number of corporate investors in a company very closely, which is 54.77% institutions for Cenovus Energy Inc that are currently holding shares of the company. Capital Research Global Investors is the top institutional holder at CVE for having 155.04 million shares of worth $2.63 billion. And as of Jun 29, 2023, it was holding 8.22% of the company’s outstanding shares.
The second largest institutional holder is Capital World Investors, which was holding about 147.37 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 7.82% of outstanding shares, having a total worth of $2.5 billion.
On the other hand, Growth Fund Of America Inc and Europacific Growth Fund are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 93.99 million shares of worth $1.6 billion or 4.98% of the total outstanding shares. The later fund manager was in possession of 72.67 million shares on Jun 29, 2023, making its stake of worth around $1.23 billion in the company or a holder of 3.85% of company’s stock.