Cenovus Energy Inc. (NYSE:CVE) traded at $4.5 at last check on Tuesday, Jun 30, making a downturn move of -3.85% on its previous day’s price.
Looking at the stock we see that its previous close was $4.68 and the beta (5Y monthly) reads 3.48 with the day’s price range being $4.4900 – 4.6300. In terms of its 52-week price range, CVE has a high of $10.82 and a low of $1.41. The company’s stock has gained about 8.08% over that past 30 days.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $3.57 Billion, with a low of $3.22 Billion and a high of $3.82 Billion. The median projection represents growth adding up to 17.5% compared to sales earnings for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecasts for 2020 are expected to hit $14.84 Billion, or +10.6% up from figures reported last year.
There have been 2 upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the CVE stock, short term indicators assign the stock an average of Hold, while medium term indicators assign it an average of 50% Sell. Long term indicators on average place the stock in the category of 50% Sell.
Based on estimates by 20 analysts where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 9 have rated the Cenovus Energy Inc. (CVE) stock as a Hold, while 9 rate it as a Buy. 1 analysts rate it as outperform while none of them rated it as underperform, whereas 1 suggests the stock as a Sell. The stock has an overall rating of Overweight and investors could take advantage and scoop up stock of the company.
Looking further, we note that the PEG ratio for the CVE stock currently stands at 0, and the current price level is -6.02% off its SMA20 and 8.91% from its 50-day simple moving average. The RSI (14) is pointing at 50.03 while the volatility over the past week is 5.26% and jumps to 5.96% over the past one month. The beta value is 2.69, while the average true range (ATR) is currently pointing at 0.3. The average price target for the stock over the next 12 months is $5.05, with the estimates having a low of $2.87 and a high of $8.12. These price ends are -36.22% and +80.44% off the current price level respectively, although investors could be excited at the prospect of a +6.67% if the CVE share price touches on the median price of $4.8.
Let’s briefly compare Cenovus (CVE) stock to its peers. We find that today’s price change of -3.85% and -46.94% over the past 12 months for CVE competes that of Suncor Energy Inc (SU), which has seen its stock price fall -2.18% in the latest trading session and is -45.57% over the last one year. Another of its peers Imperial Oil Ltd (IMO) has dropped -0.88% today, but is -42.83% down over the past year. Suncor has a P/E ratio of 0 compared to Cenovus’ 27.37 and Imperial’s 9.63. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at 0.04% and 0.46%, respectively, in early deals.
Coming back to Cenovus Energy Inc. (NYSE:CVE), we note that the average 3-month trading volume was 9.55 Million, while that of the preceding 10-day period stands at 6.21 Million. Current shares outstanding are 1.23 Billion.
According to data from Thomson Reuters, insiders hold 17.07% of the company’s shares while institutions hold 65.53%. The data shows that short shares as of June 14, 2020, stood at 19.26 Million at a short ratio of 2.21. This represents a 1.57% Short interest in Shares outstanding on June 14, 2020. Shares short dropped in June from the previous month at 20.68 Million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock -53.89% down in year-to-date price movement.