In the last trading session, 14.81 million shares of the Cenovus Energy Inc (NYSE:CVE) were traded, and its beta was 2.05. Most recently the company’s share price was $17.68, and it changed around -$0.68 or -3.70% from the last close, which brings the market valuation of the company to $32.82B. CVE currently trades at a discount to its 52-week high of $21.79, offering almost -23.25% off that amount. The share price’s 52-week low was $14.62, which indicates that the current value has risen by an impressive 17.31% since then. We note from Cenovus Energy Inc’s average daily trading volume that its 10-day average is 10.17 million shares, with the 3-month average coming to 7.83 million.
Cenovus Energy Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.15. If we narrow it down even further, the data shows that 1 out of 14 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 6 recommended CVE as a Hold, whereas 6 deemed it a Buy, and 0 rated it as Underweight.
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Cenovus Energy Inc (NYSE:CVE) trade information
Instantly CVE has showed a red trend with a performance of -3.70% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 18.61 on recent trading dayincreased the stock’s daily price by 5.0%. The company’s shares are currently up 6.71% year-to-date, but still up 3.03% over the last five days. On the other hand, Cenovus Energy Inc (NYSE:CVE) is 6.25% up in the 30-day period. We can see from the shorts that 27.15 million shares have been sold at a short interest cover period of 1.78 day(s).
The consensus price target as assigned by Wall Street analysts is $31, which translates to bulls needing to increase their stock price by 42.97% from its current value. Analyst projections state that CVE is forecast to be at a low of $31 and a high of $31.
Cenovus Energy Inc (CVE) estimates and forecasts
Cenovus Energy Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -17.63 percent over the past six months and at a 17.20% annual growth rate that is well above the industry average of -1.00%.
Cenovus Energy Inc earnings are expected to increase by 10.12% in 2024, but the outlook is positive 17.44% per year for the next five years.
CVE Dividends
Cenovus Energy Inc’s next quarterly earnings report is expected to be released in November. The annual dividend yield of the stock is 2.67 percent and its annual dividend per share was 0.47. It is important to note, however, that the 2.67% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 1.71 per year.
Cenovus Energy Inc (NYSE:CVE)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 32.03% of Cenovus Energy Inc shares, and 54.31% of them are in the hands of institutional investors. The stock currently has a share float of 79.91%. Cenovus Energy Inc stock is held by 618.0 institutions, with CAPITAL WORLD INVESTORS being the largest institutional investor. By 2024-06-30, it held 6.715% of the shares, which is about 125.42 million shares worth $2.47 billion.
CAPITAL RESEARCH GLOBAL INVESTORS, with 4.7355% or 88.45 million shares worth $1.74 billion as of 2024-06-30, holds the second largest percentage of outstanding shares.
