Cenovus Energy Inc. [CVE] is 50.41% higher this YTD. Is it still time to buy?

Cenovus Energy Inc. [NYSE: CVE] plunged by -$0.31 during the normal trading session on Tuesday and reaching a high of $18.765 during the day while it closed the day at $18.47. The company report on September 12, 2022 that Cenovus Announces Pricing of Tender Offers for Certain Outstanding Series of Notes.


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Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced today the total consideration payable in connection with its previously announced tender offers to purchase for cash (i) up to $1,697,486,675 aggregate purchase price, excluding accrued and unpaid interest (the “Pool 1 Maximum Amount”), of its 4.250% Notes due 2027, its 4.400% Notes due 2029, its 4.450% Notes due 2042, its 5.200% Notes due 2043, its 5.375% Notes due 2025 and its 5.400% Notes due 2047 (collectively, the “Pool 1 Notes”), and (ii) up to $500,000,000 aggregate purchase price, excluding accrued and unpaid interest (the “Pool 2 Maximum Amount” and, together with the Pool 1 Maximum Amount, the “Maximum Amounts”), of its 6.750% Notes due 2039, its 6.800% Notes due 2037 and its 5.250% Notes due 2037 (collectively, the “Pool 2 Notes” and, together with the Pool 1 Notes, the “Notes”), subject to prioritized acceptance levels listed in the table below (“Acceptance Priority Levels”) and the terms and conditions of the tender offers.

References to “$” in this news release are to United States dollars, unless otherwise indicated.

Cenovus Energy Inc. stock has also gained 1.32% of its value over the past 7 days. However, CVE stock has declined by -17.98% in the 3 months of the year. Over the past six months meanwhile, it has gained 22.81% and gained 50.41% year-on date.

The market cap for CVE stock reached $35.56 billion, with 1.97 billion shares outstanding and 1.44 billion shares in the current float. Compared to the average trading volume of 9.61M shares, CVE reached a trading volume of 6575849 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 $25.60 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.

Credit Suisse have made an estimate for Cenovus Energy Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on August 11, 2022. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Overweight. The new note on the price target was released on October 07, 2021, representing the official price target for Cenovus Energy Inc. stock.

The Average True Range (ATR) for Cenovus Energy Inc. is set at 0.78, with the Price to Sales ratio for CVE stock in the period of the last 12 months amounting to 0.75. The Price to Book ratio for the last quarter was 1.84. Price to Free Cash Flow for CVE in the course of the last twelve months was 11.10 with Quick ratio for the last quarter at 1.10.

CVE stock trade performance evaluation

Cenovus Energy Inc. [CVE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.32. With this latest performance, CVE shares dropped by -1.12% in over the last four-week period, additionally plugging by 22.81% over the last 6 months – not to mention a rise of 109.41% 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 50.26, with the RSI for the last a single of trading hit 50.04, and the three-weeks RSI is set at 50.06 for Cenovus Energy Inc. [CVE]. The present Moving Average for the last 50 days of trading for this stock 17.96, while it was recorded at 18.20 for the last single week of trading, and 16.97 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 1.70.

Cenovus Energy Inc. [CVE]: Insider Ownership positions

There are presently around $19,726 million, or 73.10% of CVE stock, in the hands of institutional investors. The top three institutional holders of CVE stocks are: CAPITAL WORLD INVESTORS with ownership of 122,515,077, which is approximately 330.153% of the company’s market cap and around 0.10% of the total institutional ownership; FMR LLC, holding 109,455,912 shares of the stock with an approximate value of $2.02 billion in CVE stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $2.02 billion in CVE stock with ownership of nearly -9.967% 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 198 institutional holders increased their position in Cenovus Energy Inc. [NYSE:CVE] by around 201,839,275 shares. Additionally, 158 investors decreased positions by around 210,764,546 shares, while 48 investors held positions by with 655,390,692 shares. The mentioned changes placed institutional holdings at 1,067,994,513 shares, according to the latest SEC report filing. CVE stock had 68 new institutional investments in for a total of 64,648,742 shares, while 37 institutional investors sold positions of 42,186,694 shares during the same period.

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