Cenovus Energy Inc. [CVE] Is Currently 4.74 below its 200 Period Moving Avg: What Does This Mean?



Cenovus Energy Inc. [NYSE: CVE] stock went on an upward path that rose over 4.74% on Monday, amounting to a one-week price increase of more than 5.17%. The company report on July 25, 2022 that Cenovus to hold second-quarter conference call and webcast July 28.

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Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will release its second-quarter results on Thursday, July 28. The news release will provide consolidated second-quarter operating and financial information. Financial statements will be available on Cenovus’s website.

Over the last 12 months, CVE stock rose by 119.48%. The one-year Cenovus Energy Inc. stock forecast points to a potential upside of 23.29. The average equity rating for CVE stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $35.80 billion, with 1.99 billion shares outstanding and 1.42 billion shares in the current float. Compared to the average trading volume of 10.89M shares, CVE stock reached a trading volume of 8651300 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 $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 1.07, with the Price to Sales ratio for CVE stock in the period of the last 12 months amounting to 0.86. The Price to Book ratio for the last quarter was 1.88. Price to Free Cash Flow for CVE in the course of the last twelve months was 12.96 with Quick ratio for the last quarter at 1.10.

CVE Stock Performance Analysis:

Cenovus Energy Inc. [CVE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.17. With this latest performance, CVE shares dropped by -0.62% in over the last four-week period, additionally plugging by 25.91% over the last 6 months – not to mention a rise of 119.48% 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 46.22, with the RSI for the last a single of trading hit 49.95, and the three-weeks RSI is set at 45.62 for Cenovus Energy Inc. [CVE]. The present Moving Average for the last 50 days of trading for this stock 20.13, while it was recorded at 17.45 for the last single week of trading, and 15.88 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 +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 Position Details

There are presently around $18,139 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 $1.92 billion in CVE stocks shares; and CONOCOPHILLIPS, currently with $1.61 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 July and at the time of the July reporting period, where 211 institutional holders increased their position in Cenovus Energy Inc. [NYSE:CVE] by around 183,042,288 shares. Additionally, 110 investors decreased positions by around 165,379,870 shares, while 46 investors held positions by with 676,951,283 shares. The mentioned changes placed institutional holdings at 1,025,373,441 shares, according to the latest SEC report filing. CVE stock had 67 new institutional investments in for a total of 30,463,699 shares, while 27 institutional investors sold positions of 2,156,539 shares during the same period.