Cenovus Energy Inc. [NYSE: CVE] loss -3.26% or -0.6 points to close at $17.78 with a heavy trading volume of 8166200 shares. The company report on February 28, 2023 that Cenovus closes acquisition of Toledo Refinery.
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.
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It opened the trading session at $18.30, the shares rose to $18.30 and dropped to $17.72, the range by which the price of stock traded the whole day. The daily chart for CVE points out that the company has recorded -0.87% loss over the past six months. However, it is still -23.64% lower than its most recent low trading price.
If we look at the average trading volume of 7.45M shares, CVE reached to a volume of 8166200 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 $24.21 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 0.80, with the Price to Sales ratio for CVE stock in the period of the last 12 months amounting to 0.71. 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 6.32 with Quick ratio for the last quarter at 1.00.
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 2.60. With this latest performance, CVE shares dropped by -3.74% in over the last four-week period, additionally sinking by -0.87% over the last 6 months – not to mention a rise of 4.52% 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 51.51, with the RSI for the last a single of trading hit 53.25, and the three-weeks RSI is set at 50.05 for Cenovus Energy Inc. [CVE]. The present Moving Average for the last 50 days of trading for this stock 18.21, while it was recorded at 18.25 for the last single week of trading, and 18.46 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 +15.69 and a Gross Margin at +16.98. Cenovus Energy Inc.’s Net Margin is presently recorded at +9.64.
Return on Total Capital for CVE is now 26.82, given the latest momentum, and Return on Invested Capital for the company is 16.65. Return on Equity for this stock inclined to 25.21, with Return on Assets sitting at 11.65. When it comes to the capital structure of this company, Cenovus Energy Inc. [CVE] has a Total Debt to Total Equity ratio set at 42.22. Additionally, CVE Total Debt to Total Capital is recorded at 29.69, with Total Debt to Total Assets ending up at 20.84. Long-Term Debt to Equity for the company is recorded at 41.46, with the Long-Term Debt to Total Capital now at 28.61.
Reflecting on the efficiency of the workforce at the company, Cenovus Energy Inc. [CVE] managed to generate an average of $1,075,358 per employee. Receivables Turnover for the company is 21.69 with a Total Asset Turnover recorded at a value of 1.21.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.
Cenovus Energy Inc. [CVE]: An earnings per share (EPS) analysis
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 -11.14%.
An analysis of insider ownership at Cenovus Energy Inc. [CVE]
There are presently around $17,101 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 $1.53 billion in CVE stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $1.52 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 Wednesday and at the time of the Wednesday reporting period, where 187 institutional holders increased their position in Cenovus Energy Inc. [NYSE:CVE] by around 89,292,829 shares. Additionally, 186 investors decreased positions by around 75,017,311 shares, while 55 investors held positions by with 797,520,217 shares. The mentioned changes placed institutional holdings at 961,830,357 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 53 institutional investors sold positions of 12,979,398 shares during the same period.