Cenovus Energy Inc. (NYSE:CVE) does about 5.87M shares in volume on a normal day but saw 2872007 shares change hands in Tuesday trading. The company now has a market cap of 5.71B USD and an enterprise value of about $13.56B. Its current market price is $4.74, marking an increase of 0.42% compared to the previous close of $4.72. The 52 week high reached by this stock is $10.82 whilst the lowest price level in 52 weeks is $1.41. The script in recent trading has seen the stock touch a high of $4.835 and a low of $4.65.
Cenovus Energy Inc. (CVE) has a 20-day trading average at $4.96 and the current price is -56.19% off the 52-week high compared with 236.17% distance from its 52-week low. The 50-day simple moving average of the closing price is $4.76 and its 200-day simple moving average is $5.89. If we look at the stock’s price movements over the week, volatility stands at 3.71%, which increases to 3.98% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 45.97 to suggest the stock is neutral.
20 analysts observing the Cenovus Energy Inc. (CVE) stock have set the 12-month price targets for the company’s shares at between $4.47 and $8.33. The median price target is 15.36% away from the current levels at $5.60.
FactSet Research has provided data showing that 20 brokerages have issued ratings for the stock. 1 analysts have rated it as a sell, while 1 advise that it is a overweight. 9 analysts have rated it as a buy and 9 have advised that investors hold their positions. The consensus recommendation rating is Overweight and Wall Street’s advice is for investors to Moderate Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on March 25, 2020 when Tudor Pickering downgraded the stock to “Hold” and issued a price target of . JP Morgan also downgraded the stock to “Neutral” from Overweight on March 04, 2020 at a price target of .
The current price level is -4.25%, -0.36%, and -19.86% away from its SMA20, SMA50, and SMA200 respectively, with the CVE price moving above the 50-day SMA on September 01. Cenovus Energy Inc. (CVE) stock is down -4.24% over the week and 4.87% over the past month. Its price is -53.30% year-to-date and -45.01% over the past year.
The stock last released its quarterly earnings report for quarter ended 12/30/2017, with the company’s earnings per share (EPS) of $0.56 above consensus estimates by $0.48. The company’s next earnings report is expected on 10/29/2020, with forecasts estimating quarterly EPS at -$0.02 and $0.29 for whole year. CVE’s earnings per share are forecast to shrink by -66.70% this year and 62.10% over next year. Expected sales for next quarter are $3.53 billion, which analysts say will come at $14.84 billion for the current fiscal year and next year at $14.82 billion. In addition, estimates put the company’s current quarterly revenue at an average of $3.57 billion.
Its 12-month price target is $5.60. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $4.47, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $8.33.
Outstanding shares total 1.23B with insiders holding 17.07% of the shares and institutional holders owning 65.53% of the company’s common stock. The company has a return on investment of 8.80% and return on equity of -9.40%. The beta has a value of 2.72. Price to book ratio is 0.44 and price to sales ratio is 0.48.
According to a U.S. Securities and Exchange Commission filing, American Funds EuroPacific Growth has added its position in Cenovus Energy Inc. (CVE) to 69,773,357 shares, mirroring a recent increase by 51.17%. American Funds EuroPacific Growth added 23.62 million shares of Cenovus Energy Inc. common stock bringing its total worth to about $311.19 million at the end of recent close, SEC documents show. American Funds EuroPacific Growth isn’t the only investment manager who changed stakes and is followed by Oakmark International Fund, which sold off -0.62 million shares to end up with 65,750,041 shares worth $293.25 million. Fidelity Canadian Large Cap Fund cut their holdings by -0.90% in the company over the course of the most recent quarter. It now holds a 1.97% position in Cenovus Energy Inc. thanks to 24.25 million shares amounting to $108.16 million.