Cenovus Energy Inc. [CVE] is 2.85% higher this YTD. Is it still time to buy?


Cenovus Energy Inc. [NYSE: CVE] gained 2.85% or 0.35 points to close at $12.63 with a heavy trading volume of 8233832 shares. The company report on December 16, 2021 that Cenovus announces sale of Tucker asset for $800 million.

Proceeds will further accelerate net debt reduction and support increasing shareholder returns.

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Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has reached an agreement to sell its Tucker thermal asset for total cash proceeds of $800 million. Proceeds from this transaction will further accelerate the company’s reduction of net debt and enhance its capacity to increase shareholder returns. Including this transaction, the company expects to realize almost $2 billion of total proceeds from asset sales announced in 2021.

It opened the trading session at $12.32, the shares rose to $12.735 and dropped to $12.27, the range by which the price of stock traded the whole day. The daily chart for CVE points out that the company has recorded 34.36% gains over the past six months. However, it is still -127.16% lower than its most recent low trading price.

If we look at the average trading volume of 9.54M shares, CVE reached to a volume of 8233832 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.

Morgan Stanley have made an estimate for Cenovus Energy Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on October 07, 2021. The new note on the price target was released on July 19, 2021, representing the official price target for Cenovus Energy Inc. stock.

The Average True Range (ATR) for Cenovus Energy Inc. is set at 0.50, with the Price to Sales ratio for CVE stock in the period of the last 12 months amounting to 0.91. The Price to Book ratio for the last quarter was 1.37, with the Price to Cash per share for the same quarter was set at 0.82. Price to Free Cash Flow for CVE in the course of the last twelve months was 8.49 with Quick ratio for the last quarter at 0.90.

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 1.20. With this latest performance, CVE shares gained by 4.55% in over the last four-week period, additionally plugging by 34.36% over the last 6 months – not to mention a rise of 104.37% 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 58.16, with the RSI for the last a single of trading hit 62.99, and the three-weeks RSI is set at 56.57 for Cenovus Energy Inc. [CVE]. The present Moving Average for the last 50 days of trading for this stock 12.22, while it was recorded at 12.33 for the last single week of trading, and 9.60 for the last 200 days.

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

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 0.90 and a Current Ratio set at 1.30.

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

There are presently around $12,164 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 199,499,607, which is approximately -0.706% of the company’s market cap and around 0.10% of the total institutional ownership; CONOCOPHILLIPS, holding 140,720,000 shares of the stock with an approximate value of $1.73 billion in CVE stocks shares; and FMR LLC, currently with $972.01 million in CVE stock with ownership of nearly 12.774% of the company’s market capitalization.

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 132 institutional holders increased their position in Cenovus Energy Inc. [NYSE:CVE] by around 99,881,461 shares. Additionally, 112 investors decreased positions by around 107,142,487 shares, while 41 investors held positions by with 783,565,204 shares. The mentioned changes placed institutional holdings at 990,589,152 shares, according to the latest SEC report filing. CVE stock had 33 new institutional investments in for a total of 12,928,979 shares, while 31 institutional investors sold positions of 11,360,830 shares during the same period.