What should you know before buying stock in Cenovus Energy Inc (CVE)

Cenovus Energy Inc (NYSE: CVE) is 0.62% higher on its value in year-to-date trading and has touched a low of $14.62 and a high of $21.79 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 $16.90 in the last trading session, with the day’s loss setting it -0.23%.

Currently trading at $16.67, the stock is -3.62% and -4.36% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.18 million and changing -1.36% at the moment leaves the stock -10.13% off its SMA200. CVE registered -14.48% loss for a year compared to 6-month loss of -22.23%. The firm has a 50-day simple moving average (SMA 50) of $17.4302 and a 200-day simple moving average (SMA200) of $18.5879.

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The stock witnessed a 0.18% gain in the last 1 month and extending the period to 3 months gives it a -14.78%, and is -1.42% down 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 2.02% over the week and 2.33% over the month.

Cenovus Energy Inc (CVE) has around 6925 employees, a market worth around $30.94B and $41.32B in sales. Current P/E ratio is 8.96 and Fwd P/E is 10.34. Profit margin for the company is 8.50%. Distance from 52-week low is 14.04% and -23.50% from its 52-week high. The company has generated returns on investments over the last 12 months (12.14%).

with sales reaching $10.18B over the same period.The EPS is expected to shrink by -0.54% this year, but quarterly earnings will post 8.50% year-over-year. Quarterly sales are estimated to shrink -11.80% in year-over-year returns.

Cenovus Energy Inc (CVE) Top Institutional Holders

614.0 institutions hold shares in Cenovus Energy Inc (CVE), with institutional investors hold 79.39% of the company’s shares. The shares outstanding are 1.87B, and float is at 1.30B with Short Float at 1.03%. Institutions hold 53.85% of the Float.

The top institutional shareholder in the company is CAPITAL WORLD INVESTORS with over 125.42 million shares valued at $2.47 billion. The investor’s holdings represent 6.715% of the CVE Shares outstanding. As of 2024-06-30, the second largest holder is CAPITAL RESEARCH GLOBAL INVESTORS with 88.45 million shares valued at $1.74 billion to account for 4.7355 of the shares outstanding. The other top investors are FMR LLC which holds 58.79 million shares representing 3.1475% and valued at over $1.16 billion, while VANGUARD GROUP INC holds 2.6382 of the shares totaling 49.28 million with a market value of $968.77 million.