In today’s recent session, 1.79 million shares of the Cenovus Energy Inc (NYSE:CVE) have been traded, and its beta is 2.00. Most recently the company’s share price was $15.61, and it changed around $0.11 or 0.74% from the last close, which brings the market valuation of the company to $28.52B. CVE at last check was trading at a discount to its 52-week high of $21.79, offering almost -39.59% off that amount. The share price’s 52-week low was $13.76, which indicates that the recent value has risen by an impressive 11.85% since then. We note from Cenovus Energy Inc’s average daily trading volume that its 10-day average is 12.24 million shares, with the 3-month average coming to 9.19 million.
Cenovus Energy Inc stock received a consensus recommendation rating of Overweight, based on a mean score of 1.11. If we narrow it down even further, the data shows that 0 out of 18 analysts rate the stock as a Sell; another 10 rate it as Overweight. Among the rest, 0 recommended CVE as a Hold, whereas 8 deemed it a Buy, and 0 rated it as Underweight. Cenovus Energy Inc is expected to report earnings per share of 0.19 for the current quarter.
Cenovus Energy Inc (NYSE:CVE) trade information
Instantly CVE has been showing a green trend so far today with a performance of 0.74% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 15.62 on recent trading dayincreased the stock’s daily price by 0.06%. The company’s shares are currently up 3.07% year-to-date, but still up 3.69% over the last five days. On the other hand, Cenovus Energy Inc (NYSE:CVE) is 2.19% up in the 30-day period. We can see from the shorts that 13.88 million shares have been sold at a short interest cover period of 1.38 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 49.65% 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
The year-over-year growth rate is expected to be 13.30%, up from the previous year.
Consensus estimates provided by 2 financial analysts predict the company will bring in an average of 14.52B in revenue for the current quarter. 2 analysts expect Cenovus Energy Inc to make 13.94B in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 13.13B and 16.43B respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 10.59%. Forecasts for the next quarter put sales growth at -15.16%.
CVE Dividends
Cenovus Energy Inc’s next quarterly earnings report is expected to be released in March. The annual dividend yield of the stock is 3.16 percent and its annual dividend per share was 0.49. It is important to note, however, that the 3.16% 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 1.81 per year.
Cenovus Energy Inc (NYSE:CVE)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 30.34% of Cenovus Energy Inc shares, and 51.47% of them are in the hands of institutional investors. The stock currently has a share float of 73.89%. Cenovus Energy Inc stock is held by 621.0 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.
Europacific Growth Fund and American Balanced Fund were the top two Mutual Funds as of Dec 31, 2024. The former held 46.59 shares worth $728.03 million, making up 2.55% of all outstanding shares. On the other hand, American Balanced Fund held roughly 40.76 shares worth around $636.87 million, which represents about 2.23% of the total shares outstanding.
