In recent trading session, Cenovus Energy Inc (NYSE:CVE) saw 4.04 million shares changing hands at last check today with its beta currently measuring 2.06. Company’s recent per share price level of $16.52 trading at -$0.48 or -2.84% at last check today assigns it a market valuation of $30.66B. That most recent trading price of CVE’s stock is at a discount of -31.9% from its 52-week high price of $21.79 and is indicating a premium of 11.5% from its 52-week low price of $14.62. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 9.55 million shares which gives us an average trading volume of 7.41 million if we extend that period to 3-months.
For Cenovus Energy Inc (CVE), analysts’ consensus is at an average recommendation of Buy while assigning it a mean rating of 1.15. Splitting up the data highlights that, out of 6 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 0 suggested the stock as a Hold whereas 6 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of 0.55 in the current quarter.
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Cenovus Energy Inc (NYSE:CVE) trade information
Upright in the red during last session for losing -2.84%, in the last five days CVE remained trading in the red while hitting it’s week-highest on Tuesday, 09/24/24 when the stock touched $16.52 price level, adding 6.35% to its value on the day. Cenovus Energy Inc’s shares saw a change of -0.30% in year-to-date performance and have moved -4.08% in past 5-day. Cenovus Energy Inc (NYSE:CVE) showed a performance of -12.00% in past 30-days. Number of shares sold short was 27.15 million shares which calculate 1.78 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of 18.3 to the stock, which implies a rise of 9.74% to its recent value today. Analysts have been projecting 11.538339185 as a low price target for the stock while placing it at a high target of 19.89368825. It follows that stock’s current price would jump 30.16% in reaching the projected high whereas dropping to the targeted low would mean a gain of 30.16% for stock’s current value.
Cenovus Energy Inc (CVE) estimates and forecasts
Statistics highlight that Cenovus Energy Inc is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -16.33% of value to its shares in past 6 months, showing an annual growth rate of 17.20% while that of industry is -0.90. Apart from that, the company came raising its revenue forecast for fiscal year 2024. This year revenue growth is estimated to rise 12.00% 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 10.71B for the same. And 2 analysts are in estimates of company making revenue of 10.64B in the next quarter. Company posted 11.54B and 9.61B of sales in current and next quarters respectively a year earlier.
In 2024, company’s earnings growth rate is likely to be around 16.40% while estimates for its earnings growth in next 5 years are of 24.00%.
CVE Dividends
Cenovus Energy Inc is more likely to be releasing its next quarterly report on 2024-Oct-31 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. With an annual yield of 2.85%, the share has a forward dividend of 0.47 which implies that company’s dividend yield remained growing in trailing twelve months while having a 5 year average dividend yield of 1.69%.
Cenovus Energy Inc (NYSE:CVE)’s Major holders
Insiders are in possession of 32.03% of company’s total shares while institution are holding 54.52 percent of that, with stock having share float percentage of 80.21%. Investors also watch the number of corporate investors in a company very closely, which is 54.52% institutions for Cenovus Energy Inc that are currently holding shares of the company. CAPITAL WORLD INVESTORS is the top institutional holder at CVE for having 125.42 million shares of worth $2.47 billion. And as of 2024-06-30, it was holding 6.715 of the company’s outstanding shares.
The second largest institutional holder is CAPITAL RESEARCH GLOBAL INVESTORS, which was holding about 88.45 million shares on 2024-06-30. The number of shares represents firm’s hold over 4.7355 of outstanding shares, having a total worth of $1.74 billion.
