Cenovus Energy Inc. [CVE] Revenue clocked in at $15.14 billion, up 33.11% YTD: What’s Next?

Cenovus Energy Inc. [NYSE: CVE] gained 4.42% on the last trading session, reaching $8.04 price per share at the time. The company report on May 13, 2021 that Cenovus reports voting results of election of Directors.

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Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced that at its annual meeting of shareholders held on May 12, 2021, each of the 12 nominees proposed as Directors and listed in its Management Information Circular dated March 15, 2021 were elected as Directors. The detailed results of the vote are set out below.

Nominee.

Cenovus Energy Inc. represents 2.02 billion in outstanding shares, while the company has a total market value of $15.56 billion with the latest information. CVE stock price has been found in the range of $7.80 to $8.069.

If compared to the average trading volume of 9.16M shares, CVE reached a trading volume of 11802145 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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.

Desjardins have made an estimate for Cenovus Energy Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 26, 2021. The new note on the price target was released on March 08, 2021, representing the official price target for Cenovus Energy Inc. stock.

The Average True Range (ATR) for Cenovus Energy Inc. is set at 0.32, with the Price to Sales ratio for CVE stock in the period of the last 12 months amounting to 1.03. The Price to Book ratio for the last quarter was 0.85, with the Price to Cash per share for the same quarter was set at 0.37. Price to Free Cash Flow for CVE in the course of the last twelve months was 61.05 with Quick ratio for the last quarter at 0.80.

Trading performance analysis for CVE stock

Cenovus Energy Inc. [CVE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.77. With this latest performance, CVE shares dropped by -0.62% in over the last four-week period, additionally plugging by 82.73% over the last 6 months – not to mention a rise of 129.71% 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 55.58, with the RSI for the last a single of trading hit 57.68, and the three-weeks RSI is set at 54.83 for Cenovus Energy Inc. [CVE]. The present Moving Average for the last 50 days of trading for this stock 7.84, while it was recorded at 7.80 for the last single week of trading, and 5.84 for the last 200 days.

Cenovus Energy Inc. [CVE]: A deeper dive into fundamental analysis

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.

Cenovus Energy Inc. [CVE]: An earnings per share (EPS) analysis

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 3.29%.

An analysis of insider ownership at Cenovus Energy Inc. [CVE]

There are presently around $8,273 million, or 73.10% of CVE stock, in the hands of institutional investors. The top three institutional holders of CVE stocks are: CAPITAL RESEARCH GLOBAL INVESTORS with ownership of 215,785,956, which is approximately 48.062% of the company’s market cap and around 0.10% of the total institutional ownership; CONOCOPHILLIPS, holding 208,000,000 shares of the stock with an approximate value of $1.67 billion in CVE stocks shares; and HARRIS ASSOCIATES L P, currently with $790.23 million in CVE stock with ownership of nearly 7.868% 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 May and at the time of the May reporting period, where 136 institutional holders increased their position in Cenovus Energy Inc. [NYSE:CVE] by around 194,159,363 shares. Additionally, 79 investors decreased positions by around 90,133,262 shares, while 45 investors held positions by with 744,634,792 shares. The mentioned changes placed institutional holdings at 1,028,927,417 shares, according to the latest SEC report filing. CVE stock had 49 new institutional investments in for a total of 16,202,991 shares, while 21 institutional investors sold positions of 19,404,527 shares during the same period.

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