With over 12.58 million Cenovus Energy Inc (CVE) shares trading Friday and a closing price of $15.61 on the day, the dollar volume was approximately $196.4 million. The shares have shown a negative half year performance of -9.51% and its price on 01/12/24 lost nearly -1.76%. Currently, there are 1.91B common shares owned by the public and among those 1.34B shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 20 analysts who have offered their price forecasts for CVE have a consensus price objective of $31.81. The analysts have set the share’s price value over the next 12 months at a high of $36.00 and a low of $28.00. The average price target is 34.02% above its recent price level and an upside to the estimated low will see the stock gain 44.25% over that period. But an upside of 56.64% will see the stock hit the forecast high price target while median target price for the stock is $31.31.
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The top 3 mutual fund holders in Cenovus Energy Inc are American Funds Growth Fund of Ame, American Funds EuroPacific Growth, and American Funds New Perspective Fu. American Funds Growth Fund of Ame owns 98.99 million shares of the company’s stock, all valued at over $1.65 billion. The company bought an additional 5.0 million shares recently to bring their total holdings to about 5.22% of the shares outstanding. American Funds EuroPacific Growth bought 8.28 million shares to see its total holdings expand to 80.95 million shares valued at over $1.35 billion and representing 4.27% of the shares outstanding. American Funds New Perspective Fu now owns shares totaling to 2.24% of the shares outstanding.
Shares of Cenovus Energy Inc (NYSE: CVE) opened at $16.16, up $0.27 from a prior closing price of $15.89. However, the script later moved the day high at 16.19, down -1.76%. The company’s stock has a 5-day price change of -5.39% and -23.89% over the past three months. CVE shares are trading -6.25% year to date (YTD), with the 12-month market performance down to -15.39% lower. It has a 12-month low price of $14.97 and touched a high of $21.37 over the same period. CVE has an average intraday trading volume of 9.46 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -5.60%, -9.36%, and -13.30% respectively.
Institutional ownership of Cenovus Energy Inc (NYSE: CVE) shares accounts for 56.35% of the company’s 1.91B shares outstanding. Mutual fund holders own –, while other institutional holders and individual stakeholders account for — and — respectively.
It has a market capitalization of $29.60B and a beta (3y monthly) value of 2.17. The stock’s trailing 12-month PE ratio is 9.89, while the earnings-per-share (ttm) stands at $1.58. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.66% over the week and 2.39% over the month.
Analysts forecast that Cenovus Energy Inc (CVE) will achieve an EPS of $0.43 for the current quarter, $0.47 for the next quarter and $2.24 for 2024. The lowest estimate earnings-per-share for the quarter is $0.22 while analysts give the company a high EPS estimate of $0.58. Comparatively, EPS for the current quarter was $0.29 a year ago. Earnings per share for the fiscal year are expected to decrease by -24.68%, and 24.76% over the next financial year. EPS should shrink at an annualized rate of -8.41% over the next five years, compared to 8.28% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 20 brokerage firm advisors rate Cenovus Energy Inc (CVE) as a “Strong Buy” at a consensus score of 1.15. Specifically, 18 Wall Street analysts polled rate the stock as a buy, while 1 of the 20 advise that investors “hold,” and 0 rated it as a “Sell.”
