Cenovus Energy Inc. [CVE] Is Currently -5.18 below its 200 Period Moving Avg: What Does This Mean?

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Cenovus Energy Inc. [NYSE: CVE] closed the trading session at $19.03 on 06/17/22. The day’s price range saw the stock hit a low of $18.21, while the highest price level was $20.07. The company report on June 13, 2022 that Cenovus acquiring outstanding 50% interest in Sunrise oil sands asset.


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Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has reached an agreement to purchase the remaining 50% of the Sunrise oil sands project in northern Alberta from bp. Total consideration for the transaction includes $600 million in cash, a variable payment with a maximum cumulative value of $600 million expiring after two years, and Cenovus’s 35% position in the undeveloped Bay du Nord project offshore Newfoundland and Labrador. The transaction has an effective date of May 1, 2022 and is anticipated to close in the third quarter of this year, subject to closing conditions and normal purchase price adjustments.

Full ownership of Sunrise further enhances Cenovus’s core strength in the oil sands. Sunrise has been operated by the company since the beginning of 2021, following the Husky Energy transaction, and Cenovus is now in the early stages of applying its oil sands operating model at this asset.

The stocks have a year to date performance of 54.97 percent and weekly performance of -19.12 percent. The stock has been moved at 61.41 percent over the last six months. The stock has performed -8.24 percent around the most recent 30 days and changed 24.14 percent over the most recent 3-months.

If compared to the average trading volume of 11.16M shares, CVE reached to a volume of 18528962 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $23.06 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 0.98, with the Price to Sales ratio for CVE stock in the period of the last 12 months amounting to 0.96. The Price to Book ratio for the last quarter was 2.04. Price to Free Cash Flow for CVE in the course of the last twelve months was 14.39 with Quick ratio for the last quarter at 1.10.

CVE stock trade performance evaluation

Cenovus Energy Inc. [CVE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -19.12. With this latest performance, CVE shares dropped by -8.24% in over the last four-week period, additionally plugging by 61.41% over the last 6 months – not to mention a rise of 96.79% 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 32.50, with the RSI for the last a single of trading hit 21.08, and the three-weeks RSI is set at 40.17 for Cenovus Energy Inc. [CVE]. The present Moving Average for the last 50 days of trading for this stock 20.23, while it was recorded at 21.06 for the last single week of trading, and 14.84 for the last 200 days.

Cenovus Energy Inc. [CVE]: An insightful look at the core 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.

Cenovus Energy Inc. [CVE]: Insider Ownership positions

There are presently around $19,532 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 121,416,869, which is approximately -35.44% of the company’s market cap and around 0.10% of the total institutional ownership; FMR LLC, holding 108,688,286 shares of the stock with an approximate value of $2.07 billion in CVE stocks shares; and CONOCOPHILLIPS, currently with $1.73 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 200 institutional holders increased their position in Cenovus Energy Inc. [NYSE:CVE] by around 183,163,930 shares. Additionally, 117 investors decreased positions by around 164,308,922 shares, while 44 investors held positions by with 678,892,288 shares. The mentioned changes placed institutional holdings at 1,026,365,140 shares, according to the latest SEC report filing. CVE stock had 66 new institutional investments in for a total of 30,869,318 shares, while 28 institutional investors sold positions of 2,194,287 shares during the same period.

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