Cenovus Energy Inc. (NYSE: CVE) is 23.34% higher on its value in year-to-date trading and has touched a low of $1.41 and a high of $8.55 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The CVE stock was last observed hovering at around $7.61 in the last trading session, with the day’s loss setting it -0.16% off its average median price target of $7.86 for the next 12 months. It is also 29.78% off the consensus price target high of $10.61 offered by 20 analysts, but current levels are -36.2% lower than the price target low of $5.47 for the same period.
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Currently trading at $7.45, the stock is 13.38% and 18.19% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 12.67 million and changing -2.10% at the moment leaves the stock 51.07% off its SMA200. CVE registered -5.82% loss for a year compared to 6-month gain of 50.51%. The firm has a 50-day simple moving average (SMA 50) of $6.45 and a 200-day simple moving average (SMA200) of $5.10.
The stock witnessed a 29.34% loss in the last 1 month and extending the period to 3 months gives it a 41.90%, and is 9.88% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 5.16% over the week and 4.80% over the month.
Cenovus Energy Inc. (CVE) has around 2413 employees, a market worth around $14.81B and $10.43B in sales. Fwd P/E is 31.70. Profit margin for the company is -18.00%. Distance from 52-week low is 428.37% and -12.87% from its 52-week high. The company has generated returns on investments over the last 12 months (-6.60%).
Cenovus Energy Inc. (CVE) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Cenovus Energy Inc. (CVE) is a “Overweight”. 20 analysts offering their recommendations for the stock have an average rating of 2.50, where 7 rate it as a Hold and 1 think it is a “Overweight”. 10 of the analysts rate the stock as a “Buy”. 2 analysts have rated the stock as a Sell or Underperform.
Cenovus Energy Inc. is expected to release its quarterly report on 04/28/2021 and quarterly earnings per share for the current quarter are estimated at -$0.02 with sales reaching $3.57B over the same period.The EPS is expected to shrink by -208.50% this year, but quarterly earnings will post 10.60% year-over-year. Quarterly sales are estimated to grow 17.50% in year-over-year returns.
Cenovus Energy Inc. (CVE) Top Institutional Holders
401 institutions hold shares in Cenovus Energy Inc. (CVE), with 344.39M shares held by insiders accounting for 17.07% while institutional investors hold 78.69% of the company’s shares. The shares outstanding are 2.02B, and float is at 1.26B with Short Float at 1.27%. Institutions hold 65.26% of the Float.
The top institutional shareholder in the company is ConocoPhillips with over 208.0 million shares valued at $1.26 billion. The investor’s holdings represent 10.31% of the CVE Shares outstanding. As of Dec 30, 2020, the second largest holder is Capital Research Global Investors with 145.74 million shares valued at $880.27 million to account for 7.22% of the shares outstanding. The other top investors are Harris Associates L.P. which holds 98.29 million shares representing 4.87% and valued at over $593.66 million, while FMR, LLC holds 4.18% of the shares totaling 84.38 million with a market value of $509.67 million.
Cenovus Energy Inc. (CVE): Who are the competitors?
The company’s main competitors (and peers) include Apache Corporation (APA) that is trading -17.60% down over the past 12 months. Canadian Natural Resources Limited (CNQ) is 4.50% up on the 1-year trading charts. Short interest in the company’s stock has fallen -5.68% from the last report on Jan 14, 2021 to stand at a total of 19.34 million short shares sold with a short interest ratio of 1.68.