Wednesday, January 27, 2021

Cenovus Energy Inc. [CVE] Stock trading around $6.44 per share: What’s Next?

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Cenovus Energy Inc. [NYSE: CVE] slipped around -0.09 points on Monday, while shares priced at $6.44 at the close of the session, down -1.38%. The company report on January 4, 2021 that Cenovus closes transaction to combine with Husky.

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Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) is pleased to announce that its strategic combination with Husky Energy Inc. has closed. The transaction creates a resilient integrated energy leader that is well positioned to provide superior returns for investors over the long term, as well as strong environmental, social and governance (ESG) performance.


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The transaction was completed through a definitive arrangement agreement announced on October 25, 2020 under which Cenovus and Husky agreed to combine in an all-stock transaction. Pursuant to the transaction agreement, Husky common shareholders received 0.7845 of a Cenovus common share and 0.0651 of a Cenovus common share purchase warrant in exchange for each Husky common share. In addition, Husky preferred shareholders exchanged each Husky preferred share for one Cenovus preferred share with substantially identical terms.

Cenovus Energy Inc. stock is now 6.62% up from its year-to-date (YTD) trading value. CVE Stock saw the intraday high of $6.45 and lowest of $6.2499 per share. The company’s 52-week high price is 10.09, which means current price is +5.40% above from all time high which was touched on 01/08/21.

Compared to the average trading volume of 8.93M shares, CVE reached a trading volume of 11939333 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Cenovus Energy Inc. [CVE]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CVE shares is $10.85 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CVE stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Barclays have made an estimate for Cenovus Energy Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on January 11, 2021. The new note on the price target was released on December 11, 2020, representing the official price target for Cenovus Energy Inc. stock.

The Average True Range (ATR) for Cenovus Energy Inc. is set at 0.30, with the Price to Sales ratio for CVE stock in the period of the last 12 months amounting to 1.17. The Price to Book ratio for the last quarter was 0.59, with the Price to Cash per share for the same quarter was set at 0.15. Price to Free Cash Flow for CVE in the course of the last twelve months was 32.08 with Quick ratio for the last quarter at 0.80.

How has CVE stock performed recently?

Cenovus Energy Inc. [CVE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.21. With this latest performance, CVE shares gained by 9.90% in over the last four-week period, additionally plugging by 51.89% over the last 6 months – not to mention a drop of -34.82% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CVE stock in for the last two-week period is set at 61.75, with the RSI for the last a single of trading hit 59.41, and the three-weeks RSI is set at 62.51 for Cenovus Energy Inc. [CVE]. The present Moving Average for the last 50 days of trading for this stock 5.26, while it was recorded at 6.62 for the last single week of trading, and 4.40 for the last 200 days.

Cenovus Energy Inc. [CVE]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Cenovus Energy Inc. [CVE] shares currently have an operating margin of +8.79 and a Gross Margin at +10.53. Cenovus Energy Inc.’s Net Margin is presently recorded at +10.87.

Return on Total Capital for CVE is now 6.52, given the latest momentum, and Return on Invested Capital for the company is 8.19. Return on Equity for this stock inclined to 11.97, with Return on Assets sitting at 6.09. When it comes to the capital structure of this company, Cenovus Energy Inc. [CVE] has a Total Debt to Total Equity ratio set at 44.87. Additionally, CVE Total Debt to Total Capital is recorded at 30.97, with Total Debt to Total Assets ending up at 23.78. Long-Term Debt to Equity for the company is recorded at 43.85, with the Long-Term Debt to Total Capital now at 30.27.

Reflecting on the efficiency of the workforce at the company, Cenovus Energy Inc. [CVE] managed to generate an average of $929,267 per employee. Receivables Turnover for the company is 17.26 with a Total Asset Turnover recorded at a value of 0.56.Cenovus Energy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 1.40.

Earnings analysis for Cenovus Energy Inc. [CVE]

With the latest financial reports released by the company, Cenovus Energy Inc. posted -0.04/share EPS, while the average EPS was predicted by analysts to be reported at -0.06/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 33.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CVE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Cenovus Energy Inc. go to 3.15%.

Insider trade positions for Cenovus Energy Inc. [CVE]

There are presently around $5,762 million, or 73.10% of CVE stock, in the hands of institutional investors. The top three institutional holders of CVE stocks are: CONOCOPHILLIPS with ownership of 208,000,000, which is approximately 0% of the company’s market cap and around 0.10% of the total institutional ownership; CAPITAL RESEARCH GLOBAL INVESTORS, holding 112,996,321 shares of the stock with an approximate value of $727.7 million in CVE stocks shares; and FMR LLC, currently with $593.49 million in CVE stock with ownership of nearly -0.241% of the company’s market capitalization.

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Positions in Cenovus Energy Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 76 institutional holders increased their position in Cenovus Energy Inc. [NYSE:CVE] by around 38,252,444 shares. Additionally, 127 investors decreased positions by around 62,058,627 shares, while 49 investors held positions by with 794,440,172 shares. The mentioned changes placed institutional holdings at 894,751,243 shares, according to the latest SEC report filing. CVE stock had 21 new institutional investments in for a total of 11,885,017 shares, while 40 institutional investors sold positions of 18,729,209 shares during the same period.

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