Cenovus Energy Inc (NYSE:CVE)’s traded shares stood at 4.46 million during the last session, with the company’s beta value hitting 2.06. At the close of trading, the stock’s price was $16.90, to imply an increase of 0.96% or $0.16 in intraday trading. The CVE share’s 52-week high remains $21.79, putting it -28.93% down since that peak but still an impressive 13.49% since price per share fell to its 52-week low of $14.62. The company has a valuation of $31.37B, with an average of 5.7 million shares in intraday trading volume over the past 10 days and average of 7.87 million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for Cenovus Energy Inc (CVE), translating to a mean rating of 1.15. Of 6 analyst(s) looking at the stock, 0 analyst(s) give CVE a Sell rating. 0 of those analysts rate the stock as Overweight while 0 advise Hold as 6 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at 0.32.
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Cenovus Energy Inc (NYSE:CVE) trade information
After registering a 0.96% upside in the last session, Cenovus Energy Inc (CVE) has traded red over the past five days. The 5-day price performance for the stock is -0.18%, and 3.74% over 30 days. With these gigs, the year-to-date price performance is 2.00%. Short interest in Cenovus Energy Inc (NYSE:CVE) saw shorts transact 27.15 million shares and set a 1.5 days time to cover.
The extremes give us $31 and $31 for target low and target high price respectively. As such, CVE has been trading -83.43% off suggested target high and -83.43% from its likely low.
Cenovus Energy Inc (CVE) estimates and forecasts
Looking at statistics comparing Cenovus Energy Inc share performance against respective industry, we note that the company has outperformed competitors. Cenovus Energy Inc (CVE) shares are -20.86% down over the last 6 months, with its year-to-date growth rate higher than industry average at 6.37% against -4.20%. Revenue is forecast to shrink -55.60% this quarter before jumping 17.20% for the next one. The rating firms project that company’s revenue will grow 8.80% compared to the previous financial year.
Revenue forecast for the current quarter as set by 2 analysts is 10.21B. Meanwhile, for the current quarter, a total of 2 analyst(s) estimate revenue growth to 10.66B.Earnings reports from the last fiscal year show that sales brought in 11.54B and 9.61B respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -11.50% before jumping 11.00% in the following quarter.
CVE Dividends
Cenovus Energy Inc has its next earnings report out on 2024-Oct-31. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Cenovus Energy Inc has a forward dividend ratio of 0.47, with the share yield ticking at 2.79% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 1.71%.
Cenovus Energy Inc (NYSE:CVE)’s Major holders
Cenovus Energy Inc insiders hold 32.17% of total outstanding shares, with institutional holders owning 53.84% of the shares at 79.37% float percentage. In total, 53.84% institutions holds shares in the company, led by CAPITAL WORLD INVESTORS. As of 2024-06-30, the company held over 125.42 million shares (or 6.715% of shares), all amounting to roughly $2.47 billion.
The next major institution holding the largest number of shares is CAPITAL RESEARCH GLOBAL INVESTORS with 88.45 million shares, or about 4.7355% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $1.74 billion.
