In the latest trading session, 1.68 million Cenovus Energy Inc (NYSE:CVE) shares changed hands as the company’s beta touched 2.06. With the company’s most recent per share price at $17.29 changing hands around $0.13 or 0.76% at last look, the market valuation stands at $32.09B. CVE’s current price is a discount, trading about -26.03% off its 52-week high of $21.79. The share price had its 52-week low at $14.62, which suggests the last value was 15.44% up since then. When we look at Cenovus Energy Inc’s average trading volume, we note the 10-day average is 8.55 million shares, with the 3-month average coming to 7.62 million.
Analysts gave the Cenovus Energy Inc (CVE) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.15. If we narrow down to specifics, the data shows that 0 out of 6 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended CVE as a Hold, 6 felt it is a Buy and 0 rated the stock as Underweight. Cenovus Energy Inc’s EPS for the current quarter is expected to be 0.5.
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Cenovus Energy Inc (NYSE:CVE) trade information
Instantly CVE is in green as seen in intraday trades today. With action 1.71%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 4.36%, with the 5-day performance at 1.71% in the green. However, in the 30-day time frame, Cenovus Energy Inc (NYSE:CVE) is -3.78% down. Looking at the short shares, we see there were 27.15 million shares sold at short interest cover period of 1.78 days.
The consensus price target for the stock as assigned by Wall Street analysts is 18.3, meaning bulls need an upside of 5.52% from its recent market value. According to analyst projections, CVE’s forecast low is 11.538339185 with 19.89368825 as the target high. To hit the forecast high, the stock’s price needs a -15.06% plunge from its current level, while the stock would need to tank 33.27% for it to hit the projected low.
Cenovus Energy Inc (CVE) estimates and forecasts
Data shows that the Cenovus Energy Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -17.22% over the past 6 months, a 17.20% in annual growth rate that is considerably higher than the industry average of -1.00%. Year-over-year growth is forecast to reach 11.70% up from the last financial year.
Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of 10.69B. 2 analysts are of the opinion that Cenovus Energy Inc’s revenue for the current quarter will be 10.98B. The company’s revenue for the corresponding quarters a year ago was 11.54B and 9.61B respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -7.30%. The estimates for the next quarter sales put growth at 14.40%.
The 2024 estimates are for Cenovus Energy Inc earnings to increase by 12.94%, but the outlook for the next 5-year period is at 24.00% per year.
CVE Dividends
Cenovus Energy Inc is expected to release its next quarterly earnings report on 2024-Oct-31. The 2.72% annual yield figure for the share gives it an annual dividend of 0.47. It is important to note, however, that the 2.72% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision. During the past 5 years, the average dividend yield was 1.71 per year.
Cenovus Energy Inc (NYSE:CVE)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 32.03% of Cenovus Energy Inc shares while 54.36% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 79.98%. There are 54.36% institutions holding the Cenovus Energy Inc stock share, with CAPITAL WORLD INVESTORS the top institutional holder. As of 2024-06-30, the company held 6.715% of the shares, roughly 125.42 million CVE shares worth $2.47 billion.
CAPITAL RESEARCH GLOBAL INVESTORS holds the second largest percentage of outstanding shares, with 4.7355% or 88.45 million shares worth $1.74 billion as of 2024-06-30.
