Cenovus Energy Inc (NYSE:CVE) shares, rose in value, with the stock price down by -3.60% to the previous day’s close as strong demand from buyers drove the stock to $16.07.
Actively observing the price movement in the last trading, the stock closed the session at $16.67, falling within a range of $15.72 and $16.36. The value of beta (5-year monthly) was 2.635 whereas the PE ratio was 8.64 over 12-month period. Referring to stock’s 52-week performance, its high was $21.79, and the low was $14.62. On the whole, CVE has fluctuated by -6.68% over the past month.
With the market capitalization of Cenovus Energy Inc currently standing at about $41.48 billion, investors are eagerly awaiting this quarter’s results, scheduled for in December. The company’s Forward Dividend Ratio is 0.47, with its dividend yield at 2.93%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 41.35B, with a low estimate of 9.77B and a high estimate of 10.56B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 10.17B.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that CVE’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium-term indicators have put the stock in the category of 100% Sell while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0.50, with the price of CVE currently trading nearly -6.27% and -6.96% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 34.88, while the 7-day volatility ratio is showing 2.46% which for the 30-day chart, stands at 2.28%. Furthermore, Cenovus Energy Inc (CVE)’s beta value is 2.06, and its average true range (ATR) is 0.47.
A comparison of Cenovus Energy Inc (CVE) with its peers suggests the former has fared considerably weaker in the market. CVE showed an intraday change of -3.60% in last session, and over the past year, it shrunk by -15.36%%.
Data on historical trading for Cenovus Energy Inc (NYSE:CVE) indicates that the trading volumes over the past 10 days have averaged 7.55 and over the past 3 months, they’ve averaged 7.94 million. According to company’s latest data on outstanding shares, there are 1.87 billion shares outstanding.
Nearly 29.77% of Cenovus Energy Inc’s shares belong to company insiders and institutional investors own 53.31% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 13.4 million shares as on 2024-10-15, resulting in a short ratio of 1.86. The stock has fallen by -3.01% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CVE stock heading into the next quarter.
