Cenovus Energy Inc [NYSE: CVE] stock went on a downward path that fall over -0.50% on Monday, amounting to a one-week price decrease of less than -1.11%.
Over the last 12 months, CVE stock dropped by -8.05%. The one-year Cenovus Energy Inc stock forecast points to a potential upside of 28.91. The average equity rating for CVE stock is currently 1.15, trading closer to a bullish pattern in the stock market.
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The market cap for the stock reached $40.20 billion, with 1.87 billion shares outstanding and 1.28 billion shares in the current float. Compared to the average trading volume of 7.86M shares, CVE stock reached a trading volume of 7722639 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $22.55 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 1.15. 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.
UBS have made an estimate for Cenovus Energy Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 23, 2024. The new note on the price target was released on September 06, 2023, representing the official price target for Cenovus Energy Inc stock. On June 06, 2023, analysts increased their price target for CVE shares from 20 to 22.
The Average True Range (ATR) for Cenovus Energy Inc is set at 0.44, with the Price to Sales ratio for CVE stock in the period of the last 12 months amounting to 0.98. The Price to Book ratio for the last quarter was 1.36, with the Price to Cash per share for the same quarter was set at 0.92. Price to Free Cash Flow for CVE in the course of the last twelve months was 10.02 with Quick ratio for the last quarter at 0.95.
CVE Stock Performance Analysis:
Cenovus Energy Inc [CVE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.11. With this latest performance, CVE shares dropped by -10.20% in over the last four-week period, additionally sinking by -21.11% over the last 6 months – not to mention a drop of -8.05% 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 39.49, with the RSI for the last a single of trading hit 38.21, and the three-weeks RSI is set at 40.59 for Cenovus Energy Inc [CVE]. The present Moving Average for the last 50 days of trading for this stock 16.88, while it was recorded at 16.16 for the last single week of trading, and 18.63 for the last 200 days.
Insight into Cenovus Energy Inc Fundamentals:
Cenovus Energy Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.95 and a Current Ratio set at 1.59.
CVE Stock EPS
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 24.00%.
Cenovus Energy Inc [CVE] Institutonal Ownership Details
There are presently around $53.15%, or 78.36%% of CVE stock, in the hands of institutional investors. The top three institutional holders of CVE stocks are: CAPITAL WORLD INVESTORS with ownership of 125.42 million shares, which is approximately 6.715%. CAPITAL RESEARCH GLOBAL INVESTORS, holding 88.45 million shares of the stock with an approximate value of $$1.74 billion in CVE stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $$1.16 billion in CVE stock with ownership which is approximately 3.1475%.
