Cenovus Energy Inc. [NYSE: CVE] stock went on a downward path that fall over -2.22% on Monday, amounting to a one-week price decrease of less than -2.70%. The company report on July 29, 2021 that Cenovus Generates $1.8 Billion in Adjusted Funds Flow in Q2 2021.
Delivers free funds flow of $1.3 billion.
Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) continues to demonstrate the strengths of the company’s integrated portfolio in its second quarter results, generating cash from operating activities of $1.4 billion, adjusted funds flow of $1.8 billion and free funds flow of $1.3 billion, supporting a reduction in net debt of nearly $1 billion since March 31, 2021. Total production of nearly 770,000 barrels of oil equivalent per day (BOE/d) despite planned turnarounds at several assets, and strong realized commodity prices in the upstream business along with continued recovery of demand for U.S. downstream products drove Cenovus’s strong financial performance, which the company expects will continue through the rest of the year.
Over the last 12 months, CVE stock rose by 62.83%. The one-year Cenovus Energy Inc. stock forecast points to a potential upside of 26.91. The average equity rating for CVE stock is currently 2.50, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $15.90 billion, with 2.02 billion shares outstanding and 1.28 billion shares in the current float. Compared to the average trading volume of 9.84M shares, CVE stock reached a trading volume of 8327970 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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.
Credit Suisse have made an estimate for Cenovus Energy Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 19, 2021. The new note on the price target was released on June 15, 2021, representing the official price target for Cenovus Energy Inc. stock.
The Average True Range (ATR) for Cenovus Energy Inc. is set at 0.37, with the Price to Sales ratio for CVE stock in the period of the last 12 months amounting to 0.74. The Price to Book ratio for the last quarter was 0.87, with the Price to Cash per share for the same quarter was set at 0.42. Price to Free Cash Flow for CVE in the course of the last twelve months was 8.02 with Quick ratio for the last quarter at 0.70.
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 -2.70. With this latest performance, CVE shares dropped by -13.05% in over the last four-week period, additionally plugging by 22.76% over the last 6 months – not to mention a rise of 62.83% 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 40.96, with the RSI for the last a single of trading hit 40.63, and the three-weeks RSI is set at 42.38 for Cenovus Energy Inc. [CVE]. The present Moving Average for the last 50 days of trading for this stock 9.01, while it was recorded at 8.06 for the last single week of trading, and 7.16 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 -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 0.70 and a Current Ratio set at 1.20.
Cenovus Energy Inc. [CVE] Insider Position Details
There are presently around $8,020 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 188,080,000 shares of the stock with an approximate value of $1.49 billion in CVE stocks shares; and FMR LLC, currently with $684.1 million in CVE stock with ownership of nearly 2.233% of the company’s market capitalization.
Positions in Cenovus Energy Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 138 institutional holders increased their position in Cenovus Energy Inc. [NYSE:CVE] by around 194,791,190 shares. Additionally, 90 investors decreased positions by around 100,940,177 shares, while 42 investors held positions by with 715,612,095 shares. The mentioned changes placed institutional holdings at 1,011,343,462 shares, according to the latest SEC report filing. CVE stock had 40 new institutional investments in for a total of 23,042,841 shares, while 30 institutional investors sold positions of 8,332,770 shares during the same period.