During the recent session, Cenovus Energy Inc (NYSE:CVE)’s traded shares were 1.65 million, with the beta value of the company hitting 1.99. At the last check today, the stock’s price was $14.81, reflecting an intraday loss of -1.30% or -$0.2. The 52-week high for the CVE share is $21.79, that puts it down -47.13 from that peak though still a striking 4.12% gain since the share price plummeted to a 52-week low of $14.20. The company’s market capitalization is $27.06B, and the average intraday trading volume over the past 10 days was 10.85 million shares, and the average trade volume was 8.33 million shares over the past three months.
Cenovus Energy Inc (CVE) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.16. CVE has a Sell rating from 0 analyst(s) out of 6 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 6 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be 0.19.
Cenovus Energy Inc (NYSE:CVE) trade information
Cenovus Energy Inc (CVE) registered a -1.30% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -1.30% in intraday trading to $14.81, hitting a weekly high. The stock’s 5-day price performance is -0.17%, and it has moved by 2.74% in 30 days. Based on these gigs, the overall price performance for the year is -1.73%. The short interest in Cenovus Energy Inc (NYSE:CVE) is 17.82 million shares and it means that shorts have 1.63 day(s) to cover.
The consensus price target of analysts on Wall Street is $31, which implies an increase of 52.23% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $31 and $31 respectively. As a result, CVE is trading at a discount of -109.32% off the target high and -109.32% off the low.
Cenovus Energy Inc (CVE) estimates and forecasts
Statistics show that Cenovus Energy Inc has underperformed its competitors in share price, compared to the industry in which it operates. Cenovus Energy Inc (CVE) shares have gone down -23.71% during the last six months, with a year-to-date growth rate less than the industry average at -13.38% against -5.90. In the rating firms’ projections, revenue will increase 13.42% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 14.69B as predicted by 2 analyst(s). Meanwhile, a consensus of 2 analyst(s) estimates revenue growth to 14.43B by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 13.13B and 16.43B respectively. In this case, analysts expect current quarter sales to grow by 11.85% and then drop by -12.19% in the coming quarter.
While earnings are projected to return -15.87% in 2025, the next five years will return 24.00% per annum.
CVE Dividends
Cenovus Energy Inc is due to release its next quarterly earnings in February. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Cenovus Energy Inc is 0.49, with the dividend yield indicating at 3.33 percent, continuing the trend of increasing dividends in recent years. The average dividend yield of the company for the last 5 years is 1.78%.
Cenovus Energy Inc (NYSE:CVE)’s Major holders
Cenovus Energy Inc insiders own 30.33% of total outstanding shares while institutional holders control 52.56%, with the float percentage being 75.43%. CAPITAL WORLD INVESTORS is the largest shareholder of the company, while 622.0 institutions own stock in it. As of 2024-06-30, the company held over 125.42 million shares (or 6.715% of all shares), a total value of $2.47 billion in shares.
The next largest institutional holding, with 88.45 million shares, is of CAPITAL RESEARCH GLOBAL INVESTORS’s that is approximately 4.7355% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $1.74 billion.
Also, the Mutual Funds coming in first place with the largest holdings of Cenovus Energy Inc (CVE) shares are Europacific Growth Fund and Growth Fund of America Inc. Data provided on Sep 30, 2024 indicates that Europacific Growth Fund owns about 54.6 shares. This amounts to just over 2.99 percent of the company’s overall shares, with a $806.73 million market value. The same data shows that the other fund manager holds slightly less at 43.92, or about 2.41% of the stock, which is worth about $648.94 million.
