The trading price of Cenovus Energy Inc. (NYSE:CVE) floating lower at last check on Wednesday, June 22, closing at $19.40, -3.46% lower than its previous close.
Traders who pay close attention to intraday price movement should know that it has been fluctuating between $19.685 and $20.29. The company’s P/E ratio in the trailing 12-month period was 27.22, while its 5Y monthly beta was 3.62. In examining the 52-week price action we see that the stock hit a 52-week high of $24.91 and a 52-week low of $7.20. Over the past month, the stock has lost -4.88% in value.
Cenovus Energy Inc., whose market valuation is $41.72 billion at the time of this writing, is expected to release its quarterly earnings report Feb 07, 2022 – Feb 11, 2022. The dividend yield on the company stock is 1.61%, while its Forward Dividend ratio is 0.32. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $0.76 per share this quarter, however they have predicted annual earnings per share of $2.76 for 2022 and $2.7 for 2023. It means analysts are expecting annual earnings per share growth of 1,214.30% this year and -2.20% next year.
Analysts have forecast the company to bring in revenue of $11.23 billion for the current quarter, with the likely lows of $11.23 billion and highs of $11.23 billion. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2022 is $49.04 billion. The company’s revenue is forecast to grow by 33.70% over what it did in 2022.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Cenovus Energy Inc. 1 upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest CVE has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
A quick review shows that CVE’s price is currently -14.03% off the SMA20 and -4.45% off the SMA50. The RSI metric on the 14-day chart is currently showing 37.56, and weekly volatility stands at 5.68%. When measured over the past 30 days, the indicator reaches 3.66%. Cenovus Energy Inc. (NYSE:CVE)’s beta value is currently sitting at 2.38, while the Average True Range indicator is currently displaying 0.99.
To see how Cenovus Energy Inc. stock has been performing today in comparison to its peers in the industry, here are the numbers: CVE stock’s performance was -3.46% at last check in today’s session, and 100.50% in the past year, while APA Corporation (APA) has been trading -3.97% in recent session and positioned 82.08% higher than it was a year ago. Furthermore, Canadian Natural Resources Limited (CNQ) showed a decrease of -3.37% today while its price kept inclining at 51.21% over the past year. Cenovus Energy Inc. has a P/E ratio of 27.22. Also during today’s trading, the S&P 500 Index has surged 0.46%, while the Dow Jones Industrial also saw a positive session, up 0.23% today.
An evaluation of the daily trading volume of Cenovus Energy Inc. (NYSE:CVE) indicates that the 3-month average is 11.25 million.
Currently, records show that 1.99 billion of the company’s shares remain outstanding. The insiders hold 0.10% of outstanding shares, whereas institutions hold 73.10%. However, since the stock’s price has seen 63.60% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.