Cenovus Energy Inc. [CVE] is 59.53% higher this YTD. Is it still time to buy?


Cenovus Energy Inc. [NYSE: CVE] gained 4.04% or 0.76 points to close at $19.59 with a heavy trading volume of 7520020 shares. The company report on June 21, 2022 that Cenovus announces significant commitment to education and recognition for Indigenous people across Canada.

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Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced a new and significant commitment to Indspire that will support initiatives across Canada aimed at enhancing education and recognizing the outstanding achievements of Indigenous people. Cenovus will donate $1 million over four years, becoming a partner with Indspire, an Indigenous national charity that invests in the education of First Nations, Inuit, and Métis people.

“We have supported the creation of long-term economic and social value for Indigenous communities, and provided meaningful opportunities since Cenovus was created more than a decade ago,” said Trent Zacharias, Cenovus’s Director, Community & Indigenous Affairs. “This partnership is an opportunity to further directly invest in supporting education initiatives that can bring sustained change for Indigenous people and their communities across Canada, and contribute to advancing overall reconciliation. It’s also our way of recognizing and honouring the rich history and contributions of Indigenous people in Canada during National Indigenous History Month.”.

It opened the trading session at $19.15, the shares rose to $19.74 and dropped to $18.865, the range by which the price of stock traded the whole day. The daily chart for CVE points out that the company has recorded 63.11% gains over the past six months. However, it is still -172.08% lower than its most recent low trading price.

If we look at the average trading volume of 11.22M shares, CVE reached to a volume of 7520020 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 $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 1.09, with the Price to Sales ratio for CVE stock in the period of the last 12 months amounting to 0.89. The Price to Book ratio for the last quarter was 2.10. Price to Free Cash Flow for CVE in the course of the last twelve months was 13.34 with Quick ratio for the last quarter at 1.10.

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 2.94. With this latest performance, CVE shares dropped by -10.59% in over the last four-week period, additionally plugging by 63.11% over the last 6 months – not to mention a rise of 101.13% 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 43.10, with the RSI for the last a single of trading hit 41.35, and the three-weeks RSI is set at 45.83 for Cenovus Energy Inc. [CVE]. The present Moving Average for the last 50 days of trading for this stock 20.44, while it was recorded at 19.14 for the last single week of trading, and 15.10 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 +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.

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

There are presently around $19,326 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 $2.05 billion in CVE stocks shares; and CONOCOPHILLIPS, currently with $1.71 billion in CVE stock with ownership of nearly -35.382% of the company’s market capitalization.

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.