Cenovus Energy Inc. (CVE) Could Be Worth Considering For The Next Few Weeks – Stocks Register
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Cenovus Energy Inc. (CVE) Could Be Worth Considering For The Next Few Weeks

Cenovus Energy Inc. (NYSE:CVE) at last check was buoying at $14.44 on Friday, January 14, with a rise of 0.38% from its closing price on previous day.

Taking a look at stock we notice that its last check on previous day was $14.39 and 5Y monthly beta was reading 3.68 with its price kept floating in the range of $14.16 and $14.5668 on the day. Company’s P/E ratio for the trailing 12 months is 52.33. Considering stock’s 52-week price range provides that CVE hit a high price of $14.58 and saw its price falling to a low level of $5.56 during that period. Over a period of past 1-month, stock came adding 22.26% in its value.

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With its current market valuation of $28.68 billion, Cenovus Energy Inc. is set to declare its quarterly results on Feb 07, 2022 – Feb 11, 2022. CVE Stock’s Forward Dividend of 0.11 and its yield of 0.76% are making investors’ thoughts stronger that it could climb further before the company announces its earnings for the current quarter. Analysts are in estimates of $0.41 per share for company’s earnings in the current quarter and are expecting its annual EPS growth moving up to $0.81 for 2021 with estimates of that growing to $1.73 in next year.

Analysts watching the company’s growth closely have provided estimates for its revenue growth with an average revenue estimate of $10.97 billion. They suggested that in the process company could generate revenue of as low as $10.97 billion which could climb up to $10.97 billion to hit a high.

In last 7 days, analysts came adjusting their opinions about stock’s EPS with no upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement. In contrast, when we review CVE stock’s current outlook then short term indicators are assigning it an average of 100% Buy, while medium term indicators are categorizing the stock at an average of 100% Buy. Long term indicators are suggesting an average of 100% Buy for it.

Digging deeper we become aware of the PEG ratio of the CVE stock which is currently positioned at 0. It further provides that stock’s current price level is 13.81% away from its 20-day simple moving average and is 15.42% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 73.34 while volatility remained at 2.87% over the past week which changes to 3.43% when measuring it over the past month. Beta is valued at 2.98, while measure of average true range or ATR is currently at 0.47.

In comparing Cenovus Energy Inc. (CVE)’s stock with other industry players reveals that stock’s latest price change of 0.38% and that of 120.71% over the past 12 months is in competing position with that of APA Corporation (APA) which saw its stock price fall by -0.19% in the recent trading and went through an increase of 74.88% in past 12-month trading. Cenovus Energy Inc. has a P/E ratio of 52.33 against that of APA Corporation’s 20.23. On the other hand, the S&P 500 Index is down -0.70% in the early deals today while the Dow Jones Industrial was dealinglower at -1.02%.

Having a second look at Cenovus Energy Inc. (NYSE:CVE) provides that stock’s average daily trading volume for 3 months was 9.41 million, while it jumped to 9.77 million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock stood at 2.02 billion.

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The percentage of outstanding shares held by the insiders is 0.10% while it is 73.10% for the institutional holders. The figures also indicate that as of Dec 30, 2021, number of stock’s short shares was 14.73 million which implies a short ratio of 1.72. This shows up a 0.73% of Short Interest in company’s outstanding shares on the day. In December the standing of shares short improved as it was 13.11 million in the previous month. Addition of 17.18% by stock’s current price to its year-to-date value in today’s trading is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.

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