Cenovus Energy Inc (NYSE:CVE) has a beta value of 2.06 and has seen 2.12 million shares traded in the recent trading session. The company, currently valued at $33.44B, closed the recent trade at $18.01 per share which meant it gained $0.04 on the day or 0.25% during that session. The CVE stock price is -20.99% off its 52-week high price of $21.79 and 18.82% above the 52-week low of $14.62. If we look at the company’s 10-day average daily trading volume, we find that it stood at 6.34 million shares traded. The 3-month trading volume is 6.97 million shares.
The consensus among analysts is that Cenovus Energy Inc (CVE) is Buy stock at the moment, with a recommendation rating of 1.11. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 0 out of 6 have rated it as a Hold, with 6 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is 0.61.
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Cenovus Energy Inc (NYSE:CVE) trade information
Sporting 0.25% in the green today, the stock has traded in the red over the last five days, with the highest price hit on recent trading when the CVE stock price touched $18.01 or saw a rise of 5.51%. Year-to-date, Cenovus Energy Inc shares have moved 8.73%, while the 5-day performance has seen it change -4.02%. Over the past 30 days, the shares of Cenovus Energy Inc (NYSE:CVE) have changed 1.26%. Short interest in the company has seen 12.39 million shares shorted with days to cover at 2.46.
Wall Street analysts have a consensus price target for the stock at $18.3, which means that the shares’ value could jump 1.58% from the levels at last check today. The projected low price target is $11.538339185 while the price target rests at a high of $19.89368825. In that case, then, we find that the latest price level in today’s session is -10.46% off the targeted high while a plunge would see the stock lose 35.93% 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 3.22% over the past 6 months, with this year growth rate of 17.83%, compared to 2.10% for the industry. Revenue growth from the last financial year stood is estimated to be 9.80%.
2 analysts offering their estimates for the company have set an average revenue estimate of 10.1B for the current quarter. 2 have an estimated revenue figure of 9.98B for the next ending quarter. Year-ago sales stood 11.54B and 9.61B respectively for this quarter and the next, and analysts expect sales will shrink by -12.50% for the current quarter and 9.80% for the next.
Earnings growth for 2024 is a modest 23.94% while over the next 5 years, the company’s earnings are expected to increase by 24.00%.
CVE Dividends
Cenovus Energy Inc is expected to release its next earnings report in October this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.44 at a share yield of 2.44%. The company’s dividend yield has gone up over the past 12 months, with a 5 Year Average Dividend Yield of 1.69%.
Cenovus Energy Inc (NYSE:CVE)’s Major holders
Insiders own 31.71% of the company shares, while shares held by institutions stand at 53.95% 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 625.0 institutions that hold shares in the company. The top two institutional holders are CAPITAL WORLD INVESTORS with over 125.42 million shares worth more than $2.47 billion. As of 2024-06-30, CAPITAL WORLD INVESTORS held 6.715% of shares outstanding.
The other major institutional holder is CAPITAL RESEARCH GLOBAL INVESTORS, with the holding of over 88.45 million shares as of 2024-06-30. The firm’s total holdings are worth over $1.74 billion and represent 4.7355% of shares outstanding.
