Cenovus Energy Inc. [CVE] is 66.06% higher this YTD. Is it still time to buy?

Cenovus Energy Inc. [NYSE: CVE] traded at a high on 06/14/21, posting a 0.30 gain after which it closed the day’ session at $10.03. The company report on June 9, 2021 that Canada’s largest oil sands producers announce unprecedented alliance to achieve net zero greenhouse gas emissions.

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Canadian Natural Resources, Cenovus Energy, Imperial, MEG Energy and Suncor Energy formally announced the Oil Sands Pathways to Net Zero initiative. These companies operate approximately 90% of Canada’s oil sands production. The goal of this unique alliance, working collectively with the federal and Alberta governments, is to achieve net zero greenhouse gas (GHG) emissions from oil sands operations by 2050 to help Canada meet its climate goals, including its Paris Agreement commitments and 2050 net zero aspirations.

This collaborative effort follows welcome announcements from the Government of Canada and the Government of Alberta of important support programs for emissions- reduction projects and infrastructure. Collaboration between industry and government will be critical to progressing the Oil Sands Pathways to Net Zero vision and achieving Canada’s climate goals.

The results of the trading session contributed to over 8632462 shares changing hands. Over the past one week, the price volatility of Cenovus Energy Inc. stands at 3.20% while the volatility over the past one month is 3.38%.

The market cap for CVE stock reached $20.36 billion, with 2.02 billion shares outstanding and 1.27 billion shares in the current float. Compared to the average trading volume of 8.84M shares, CVE reached a trading volume of 8632462 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.

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

The Average True Range (ATR) for Cenovus Energy Inc. is set at 0.33, with the Price to Sales ratio for CVE stock in the period of the last 12 months amounting to 1.34. The Price to Book ratio for the last quarter was 1.06, with the Price to Cash per share for the same quarter was set at 0.36. Price to Free Cash Flow for CVE in the course of the last twelve months was 79.42 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 5.91. With this latest performance, CVE shares gained by 30.26% in over the last four-week period, additionally plugging by 61.77% over the last 6 months – not to mention a rise of 119.00% 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 76.33, with the RSI for the last a single of trading hit 82.14, and the three-weeks RSI is set at 71.69 for Cenovus Energy Inc. [CVE]. The present Moving Average for the last 50 days of trading for this stock 8.16, while it was recorded at 9.97 for the last single week of trading, and 6.23 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 -12.19 and a Gross Margin at -9.99. Cenovus Energy Inc.’s Net Margin is presently recorded at -17.99.

Return on Total Capital for CVE is now -5.99, given the latest momentum, and Return on Invested Capital for the company is -8.92. Return on Equity for this stock declined to -13.25, with Return on Assets sitting at -6.81. When it comes to the capital structure of this company, Cenovus Energy Inc. [CVE] has a Total Debt to Total Equity ratio set at 55.78. Additionally, CVE Total Debt to Total Capital is recorded at 35.81, with Total Debt to Total Assets ending up at 27.67. Long-Term Debt to Equity for the company is recorded at 53.95, with the Long-Term Debt to Total Capital now at 34.63.

Reflecting on the efficiency of the workforce at the company, Cenovus Energy Inc. [CVE] managed to generate an average of -$985,910 per employee. Receivables Turnover for the company is 9.98 with a Total Asset Turnover recorded at a value of 0.38.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.

Insider trade positions for Cenovus Energy Inc. [CVE]

There are presently around $10,311 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 $2.09 billion in CVE stocks shares; and FMR LLC, currently with $865.26 million in CVE stock with ownership of nearly 2.233% 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 133 institutional holders increased their position in Cenovus Energy Inc. [NYSE:CVE] by around 197,659,799 shares. Additionally, 82 investors decreased positions by around 74,296,059 shares, while 44 investors held positions by with 756,088,839 shares. The mentioned changes placed institutional holdings at 1,028,044,697 shares, according to the latest SEC report filing. CVE stock had 40 new institutional investments in for a total of 19,120,222 shares, while 24 institutional investors sold positions of 5,743,968 shares during the same period.

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