These Numbers Show Favorable Signs for Cenovus Energy Inc (CVE)

Cenovus Energy Inc (NYSE: CVE) is -9.50% lower on its value in year-to-date trading and has touched a low of $10.23 and a high of $21.08 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 $13.64 in the last trading session, with the day’s gains setting it 0.07%.

Currently trading at $13.71, the stock is 9.53% and 7.55% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 12.83 million and changing 0.51% at the moment leaves the stock -10.65% off its SMA200. CVE registered -31.76% loss for a year compared to 6-month loss of -12.90%.

The stock witnessed a 17.58% gain in the last 1 month and extending the period to 3 months gives it a -10.45%, and is 3.55% 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 2.84% over the week and 3.23% over the month.

Cenovus Energy Inc (CVE) has around 7150 employees, a market worth around $25.00B and $38.99B in sales. Current P/E ratio is 12.82 and Fwd P/E is 12.14. Profit margin for the company is 5.16%. Distance from 52-week low is 34.02% and -34.96% from its 52-week high. The company has generated returns on investments over the last 12 months (7.25%).

The EPS is expected to shrink by -12.78% this year.

Cenovus Energy Inc (CVE) Top Institutional Holders

The shares outstanding are 1.82B, and float is at 1.27B with Short Float at 1.35%.

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 6.7454% 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 4.7569 of the shares outstanding. The other top investors are FMR LLC which holds 58.79 million shares representing 3.1618% and valued at over $1.16 billion, while VANGUARD GROUP INC holds 2.6502 of the shares totaling 49.28 million with a market value of $968.77 million.