Cenovus Energy Inc. [NYSE: CVE] slipped around -1.09 points on Monday, while shares priced at $17.26 at the close of the session, down -5.94%. The company report on February 28, 2023 that Cenovus closes acquisition of Toledo Refinery.
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The Toledo Refinery has 160,000 barrels per day (bbls/d) of throughput capacity, including about 90,000 bbls/d of heavy oil capacity, and increases Cenovus’s total downstream refining capacity to about 740,000 bbls/d. Cenovus expects the refinery will ramp to full rates by mid-second quarter.
Cenovus Energy Inc. stock is now -11.08% down from its year-to-date (YTD) trading value. CVE Stock saw the intraday high of $18.09 and lowest of $17.25 per share. The company’s 52-week high price is 24.81, which means current price is +0.06% above from all time high which was touched on 01/27/23.
Compared to the average trading volume of 6.14M shares, CVE reached a trading volume of 11245902 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus 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 $23.80 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.
Goldman have made an estimate for Cenovus Energy Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 21, 2022. While these analysts kept the previous recommendation, Jefferies raised their target price to Buy. The new note on the price target was released on October 19, 2022, representing the official price target for Cenovus Energy Inc. stock.
The Average True Range (ATR) for Cenovus Energy Inc. is set at 0.72, with the Price to Sales ratio for CVE stock in the period of the last 12 months amounting to 0.69. The Price to Book ratio for the last quarter was 1.69. Price to Free Cash Flow for CVE in the course of the last twelve months was 6.20 with Quick ratio for the last quarter at 1.00.
How has CVE stock performed recently?
Cenovus Energy Inc. [CVE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.01. With this latest performance, CVE shares dropped by -10.71% in over the last four-week period, additionally sinking by -5.97% over the last 6 months – not to mention a rise of 8.59% 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 35.01, with the RSI for the last a single of trading hit 28.37, and the three-weeks RSI is set at 39.19 for Cenovus Energy Inc. [CVE]. The present Moving Average for the last 50 days of trading for this stock 18.93, while it was recorded at 18.24 for the last single week of trading, and 18.98 for the last 200 days.
Cenovus Energy Inc. [CVE]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Cenovus Energy Inc. [CVE] shares currently have an operating margin of +15.69 and a Gross Margin at +16.98. Cenovus Energy Inc.’s Net Margin is presently recorded at +9.64.
Return on Equity for this stock inclined to 25.21, with Return on Assets sitting at 11.65.
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 analysis for Cenovus Energy Inc. [CVE]
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 -11.37%.
Insider trade positions for Cenovus Energy Inc. [CVE]
There are presently around $16,624 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 155,549,090, which is approximately 19.247% of the company’s market cap and around 0.10% of the total institutional ownership; FMR LLC, holding 86,089,110 shares of the stock with an approximate value of $1.49 billion in CVE stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $1.48 billion in CVE stock with ownership of nearly 5.022% of the company’s market capitalization.
Positions in Cenovus Energy Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 188 institutional holders increased their position in Cenovus Energy Inc. [NYSE:CVE] by around 89,322,093 shares. Additionally, 187 investors decreased positions by around 76,201,932 shares, while 55 investors held positions by with 797,646,618 shares. The mentioned changes placed institutional holdings at 963,170,643 shares, according to the latest SEC report filing. CVE stock had 62 new institutional investments in for a total of 13,780,398 shares, while 54 institutional investors sold positions of 13,658,414 shares during the same period.