Cenovus Energy Inc. [CVE] is 52.36% higher this YTD. Is it still time to buy?

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Cenovus Energy Inc. [NYSE: CVE] slipped around -1.69 points on Monday, while shares priced at $18.71 at the close of the session, down -8.28%. The company report on April 27, 2022 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 April 27, 2022, each of the 12 nominees proposed as Directors and listed in its Management Information Circular dated March 1, 2022 were elected as Directors. The detailed results of the vote are set out below.

Cenovus Energy Inc. stock is now 52.36% up from its year-to-date (YTD) trading value. CVE Stock saw the intraday high of $19.855 and lowest of $18.50 per share. The company’s 52-week high price is 20.47, which means current price is +52.49% above from all time high which was touched on 05/06/22.

Compared to the average trading volume of 13.51M shares, CVE reached a trading volume of 20793798 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 $16.14 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 2.00. 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 0.95, 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 2.09. Price to Free Cash Flow for CVE in the course of the last twelve months was 15.01 with Quick ratio for the last quarter at 1.10.

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 1.46. With this latest performance, CVE shares gained by 11.44% in over the last four-week period, additionally plugging by 48.96% over the last 6 months – not to mention a rise of 144.26% 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 54.18, with the RSI for the last a single of trading hit 51.28, and the three-weeks RSI is set at 55.49 for Cenovus Energy Inc. [CVE]. The present Moving Average for the last 50 days of trading for this stock 16.97, while it was recorded at 19.76 for the last single week of trading, and 12.90 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 +10.55 and a Gross Margin at +12.38. Cenovus Energy Inc.’s Net Margin is presently recorded at +1.27.

Return on Equity for this stock inclined to 2.91, with Return on Assets sitting at 1.33.

Cenovus Energy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.60.

Insider trade positions for Cenovus Energy Inc. [CVE]

There are presently around $17,853 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 188,068,828, which is approximately -5.73% of the company’s market cap and around 0.10% of the total institutional ownership; FMR LLC, holding 101,612,813 shares of the stock with an approximate value of $1.9 billion in CVE stocks shares; and CONOCOPHILLIPS, currently with $1.7 billion in CVE stock with ownership of nearly -35.382% of the company’s market capitalization.

Positions in Cenovus Energy Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 169 institutional holders increased their position in Cenovus Energy Inc. [NYSE:CVE] by around 142,223,158 shares. Additionally, 125 investors decreased positions by around 172,680,274 shares, while 43 investors held positions by with 639,282,465 shares. The mentioned changes placed institutional holdings at 954,185,897 shares, according to the latest SEC report filing. CVE stock had 64 new institutional investments in for a total of 28,343,361 shares, while 31 institutional investors sold positions of 35,247,599 shares during the same period.