Cenovus Energy Inc. [NYSE: CVE] closed the trading session at $21.19 on 11/14/22. The day’s price range saw the stock hit a low of $21.18, while the highest price level was $21.685. The company report on November 7, 2022 that Cenovus announces renewal of share buyback program.
3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free.
Cenovus’s renewal of its share buyback program is consistent with the company’s capital allocation framework, which supports enhancing value for investors by returning cash to shareholders, generating strong returns on capital investment and deleveraging its balance sheet. Cenovus believes there are times when the market price of its common shares may not fully reflect the underlying value of its business and future prospects. Depending on the trading price of its common shares and other relevant factors, the company believes purchasing common shares represents an attractive investment opportunity and is in the best interest of Cenovus and its shareholders.
The stocks have a year to date performance of 72.56 percent and weekly performance of 0.05 percent. The stock has been moved at 2.71 percent over the last six months. The stock has performed 27.80 percent around the most recent 30 days and changed 19.58 percent over the most recent 3-months.
If compared to the average trading volume of 7.99M shares, CVE reached to a volume of 6311318 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 $24.15 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.
Jefferies have made an estimate for Cenovus Energy Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 19, 2022. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Outperform. The new note on the price target was released on August 11, 2022, representing the official price target for Cenovus Energy Inc. stock.
The Average True Range (ATR) for Cenovus Energy Inc. is set at 1.01, with the Price to Sales ratio for CVE stock in the period of the last 12 months amounting to 0.78. The Price to Book ratio for the last quarter was 2.00. Price to Free Cash Flow for CVE in the course of the last twelve months was 10.25 with Quick ratio for the last quarter at 1.00.
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 0.05. With this latest performance, CVE shares gained by 27.80% in over the last four-week period, additionally plugging by 2.71% over the last 6 months – not to mention a rise of 66.33% 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 61.51, with the RSI for the last a single of trading hit 61.27, and the three-weeks RSI is set at 60.05 for Cenovus Energy Inc. [CVE]. The present Moving Average for the last 50 days of trading for this stock 18.43, while it was recorded at 21.00 for the last single week of trading, and 18.18 for the last 200 days.
Cenovus Energy Inc. [CVE]: An insightful look at the core fundamentals
Cenovus Energy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.50.
Earnings per share (EPS) analysis for Cenovus Energy Inc. [CVE] stock
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CVE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Cenovus Energy Inc. go to 77.00%.
Cenovus Energy Inc. [CVE]: Insider Ownership positions
There are presently around $21,948 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 130,442,291, which is approximately 6.47% of the company’s market cap and around 0.10% of the total institutional ownership; CONOCOPHILLIPS, holding 90,930,000 shares of the stock with an approximate value of $1.93 billion in CVE stocks shares; and FMR LLC, currently with $1.91 billion in CVE stock with ownership of nearly -17.645% of the company’s market capitalization.
193 institutional holders increased their position in Cenovus Energy Inc. [NYSE:CVE] by around 105,855,062 shares. Additionally, 161 investors decreased positions by around 183,362,854 shares, while 57 investors held positions by with 746,558,960 shares. The mentioned changes placed institutional holdings at 1,035,776,876 shares, according to the latest SEC report filing. CVE stock had 47 new institutional investments in for a total of 15,166,764 shares, while 36 institutional investors sold positions of 44,786,417 shares during the same period.