Cenovus Energy Inc (NYSE: CVE) is 20.78% higher on its value in year-to-date trading and has touched a low of $14.69 and a high of $21.37 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 $19.99 in the last trading session, with the day’s gains setting it 0.12%.
Currently trading at $20.11, the stock is 7.83% and 16.26% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.09 million and changing 0.60% at the moment leaves the stock 11.27% off its SMA200. CVE registered 17.40% gain for a year compared to 6-month loss of -4.74%. The firm has a 50-day simple moving average (SMA 50) of $0.79 and a 200-day simple moving average (SMA200) of $4.21.
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The stock witnessed a 15.38% gain in the last 1 month and extending the period to 3 months gives it a 20.64%, and is 3.87% 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 1.51% over the week and 1.89% over the month.
Cenovus Energy Inc (CVE) has around 6925 employees, a market worth around $37.64B and $38.68B in sales. Current P/E ratio is 12.75 and Fwd P/E is 9.30. Profit margin for the company is 7.82%. Distance from 52-week low is 36.90% and -5.90% from its 52-week high. The company has generated returns on investments over the last 12 months (10.45%).
Cenovus Energy Inc quarterly earnings per share for the current quarter are estimated at $0.34 with sales reaching $10.25B over the same period.The EPS is expected to grow by 18.58% this year, but quarterly earnings will post 2.20% year-over-year. Quarterly sales are estimated to grow 10.10% in year-over-year returns.
Cenovus Energy Inc (CVE) Top Institutional Holders
620 institutions hold shares in Cenovus Energy Inc (CVE), with institutional investors hold 81.14% of the company’s shares. The shares outstanding are 1.87B, and float is at 1.32B with Short Float at 2.14%. Institutions hold 55.58% of the Float.
The top institutional shareholder in the company is Capital Research Global Investors with over 155.04 million shares valued at $2.63 billion. The investor’s holdings represent 8.22% of the CVE Shares outstanding. As of Jun 29, 2023, the second largest holder is Capital World Investors with 147.37 million shares valued at $2.5 billion to account for 7.82% of the shares outstanding. The other top investors are FMR, LLC which holds 63.0 million shares representing 3.34% and valued at over $1.07 billion, while Vanguard Group Inc holds 2.59% of the shares totaling 48.79 million with a market value of $828.46 million.
