Cenovus Energy Inc. [NYSE: CVE] loss -0.11% on the last trading session, reaching $18.60 price per share at the time. The company report on September 29, 2022 that Cenovus to help advance sustainable energy opportunities for First Nations.
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ESG energy leader joins First Nations Major Projects Coalition’s Sustaining Partners Program.
The First Nations Major Projects Coalition (FNMPC) is pleased to announce Cenovus Energy Inc. (Cenovus) as a new member of its Sustaining Partners Program. The program furthers FNMPC’s ability to advance relationships between its members and the private sector on issues of mutual interest. Cenovus, along with existing program members CIBC, Colliers Project Leaders, COWI, Gowling WLG, IBI Group and New Gold Inc., will benefit from an exclusive relationship with FNMPC that will be focused on advancing progressive Indigenous business initiatives between the partners and FNMPC members. In working with these companies, FNMPC will further advance strategies that promote meaningful Indigenous inclusion in major developments and articulate Indigenous perspectives concerning environmental, social and governance (ESG) investment standards and sustainable business practices generally.
Cenovus Energy Inc. represents 1.97 billion in outstanding shares, while the company has a total market value of $36.15 billion with the latest information. CVE stock price has been found in the range of $18.39 to $19.31.
If compared to the average trading volume of 8.80M shares, CVE reached a trading volume of 12622744 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 $24.44 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 2.10. 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 0.94, with the Price to Sales ratio for CVE stock in the period of the last 12 months amounting to 0.80. The Price to Book ratio for the last quarter was 1.96. Price to Free Cash Flow for CVE in the course of the last twelve months was 11.91 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 21.01. With this latest performance, CVE shares gained by 4.91% in over the last four-week period, additionally plugging by 10.78% over the last 6 months – not to mention a rise of 70.64% 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 58.00, with the RSI for the last a single of trading hit 64.81, and the three-weeks RSI is set at 54.59 for Cenovus Energy Inc. [CVE]. The present Moving Average for the last 50 days of trading for this stock 17.89, while it was recorded at 17.79 for the last single week of trading, and 17.43 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 1.70.
An analysis of insider ownership at Cenovus Energy Inc. [CVE]
There are presently around $19,663 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 $2.04 billion in CVE stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $2.03 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 November and at the time of the November reporting period, where 197 institutional holders increased their position in Cenovus Energy Inc. [NYSE:CVE] by around 201,677,053 shares. Additionally, 158 investors decreased positions by around 207,956,842 shares, while 47 investors held positions by with 647,530,996 shares. The mentioned changes placed institutional holdings at 1,057,164,891 shares, according to the latest SEC report filing. CVE stock had 69 new institutional investments in for a total of 64,649,079 shares, while 37 institutional investors sold positions of 42,015,792 shares during the same period.