Friday, February 26, 2021

CIBC slashes price target on Cenovus Energy Inc. [CVE] – find out why.

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Cenovus Energy Inc. [NYSE: CVE] price plunged by -2.87 percent to reach at -$0.17. The company report on January 22, 2021 that Cenovus to announce 2021 budget and production forecast.

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Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) will release its planned 2021 capital expenditure and production guidance on Thursday, January 28, 2021.


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A conference call and webcast to discuss the budget will be held for the investment community at 9 a.m. MT (11 a.m. ET).

A sum of 9274427 shares traded at recent session while its average daily volume was at 10.04M shares. Cenovus Energy Inc. shares reached a high of $6.08 and dropped to a low of $5.665 until finishing in the latest session at $5.76.

Guru’s Opinion on Cenovus Energy Inc. [CVE]:

CIBC have made an estimate for Cenovus Energy Inc. shares, keeping their opinion on the stock as Sector Outperform, with their previous recommendation back on January 15, 2021. While these analysts kept the previous recommendation, Goldman raised their target price to Buy. The new note on the price target was released on January 14, 2021, representing the official price target for Cenovus Energy Inc. stock.

The Average True Range (ATR) for Cenovus Energy Inc. is set at 0.29, with the Price to Sales ratio for CVE stock in the period of the last 12 months amounting to 1.05. The Price to Book ratio for the last quarter was 0.53, 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 28.72 with Quick ratio for the last quarter at 0.80.

CVE Stock Performance Analysis:

Cenovus Energy Inc. [CVE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.95. With this latest performance, CVE shares dropped by -2.21% in over the last four-week period, additionally plugging by 13.61% over the last 6 months – not to mention a drop of -34.10% 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 43.70, with the RSI for the last a single of trading hit 36.30, and the three-weeks RSI is set at 48.45 for Cenovus Energy Inc. [CVE]. The present Moving Average for the last 50 days of trading for this stock 5.73, while it was recorded at 5.98 for the last single week of trading, and 4.59 for the last 200 days.

Insight into Cenovus Energy Inc. 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.

CVE Stock EPS

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 3.17%.

Cenovus Energy Inc. [CVE] Insider Position Details

There are presently around $5,153 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 $650.86 million in CVE stocks shares; and FMR LLC, currently with $530.82 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 78 institutional holders increased their position in Cenovus Energy Inc. [NYSE:CVE] by around 38,256,528 shares. Additionally, 125 investors decreased positions by around 62,061,966 shares, while 46 investors held positions by with 794,315,399 shares. The mentioned changes placed institutional holdings at 894,633,893 shares, according to the latest SEC report filing. CVE stock had 22 new institutional investments in for a total of 11,885,317 shares, while 37 institutional investors sold positions of 18,659,816 shares during the same period.

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