Cenovus Energy Inc (CVE) Stock Could Soon Reward Patient Investors

Cenovus Energy Inc (NYSE: CVE) is -12.97% lower on its value in year-to-date trading and has touched a low of $14.32 and a high of $21.79 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The CVE stock was last observed hovering at around $14.35 in the last trading session, with the day’s gains setting it 0.07%.

Currently trading at $14.42, the stock is -5.65% and -9.72% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 7.11 million and changing 0.49% at the moment leaves the stock -21.66% off its SMA200. CVE registered -12.28% loss for a year compared to 6-month loss of -25.09%. The firm has a 50-day simple moving average (SMA 50) of $15.9732 and a 200-day simple moving average (SMA200) of $18.43065.

3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free
Sponsored

The stock witnessed a -10.77% gain in the last 1 month and extending the period to 3 months gives it a -16.11%, and is -5.44% 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 2.64% over the week and 2.68% over the month.

Cenovus Energy Inc (CVE) has around 6925 employees, a market worth around $26.34B and $40.90B in sales. Current P/E ratio is 10.00 and Fwd P/E is 10.60. Profit margin for the company is 6.66%. Distance from 52-week low is 0.69% and -33.83% from its 52-week high. The company has generated returns on investments over the last 12 months (9.44%).

with sales reaching $15.36B over the same period.The EPS is expected to shrink by -7.73% this year, but quarterly earnings will post 15.22% year-over-year. Quarterly sales are estimated to grow 16.97% in year-over-year returns.

Cenovus Energy Inc (CVE) Top Institutional Holders

626.0 institutions hold shares in Cenovus Energy Inc (CVE), with institutional investors hold 77.63% of the company’s shares. The shares outstanding are 1.83B, and float is at 1.27B with Short Float at 1.05%. Institutions hold 52.60% 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.