Cenovus Energy Inc. (NYSE:CVE) finished Thursday with a subtraction of -$0.56 to close at $17.08, a downside of -3.17 percent. An average of 6,676,380 shares of common stock have been traded in the last five days. There was a fall of -$1.73 in the past week, and it reached a new high 55 times over the past 12 months. The last 20 days have seen an average of 6,392,405 shares traded, while the 50-day average volume stands at 8,470,838.
CVE stock has decreased by -10.62% in the last month. The company shares reached their 1-month lowest point of $17.07 on 09/22/22. With the stock rallying to its 52-week high on 06/08/22, shares of the company touched a low of $8.66 and a high of $24.91 in 52 weeks. It has reached a new high 42 times so far this year and achieved 39.09% or $4.80 in price. In spite of this, the price is down -31.43% from the 52-week high.
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Cenovus Energy Inc. (CVE) has a trailing price-to-earnings (P/E) ratio of 11.05. The stock’s beta is 2.29. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.73, the price-to-book (PB) ratio at 1.73, and the price-to-cash flow ratio at 10.90.
The company has a payout ratio of 15.40%. The company’s most recent quarterly dividend payment was $0.0814 a share, representing a down of -3.1% from $0.0840 last year. Its latest decrease dividend $0.0026 reported on Friday July 29 2022.
The quick ratio of Cenovus Energy Inc. for the three months ended June 29 was 1.10, and the current ratio was 1.70, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.54 and a total debt to equity ratio of 0.55 for the quarter ending June 29. Its gross profit as reported stood at $2.59 billion compared to revenue of $36.99 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Cenovus Energy Inc.’s return on assets was 7.60%.
For the three-month period that ended June 29, Cenovus Energy Inc. had $7.66 million in cash and short-term investments compared to $149.37 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $1.68 billion in the quarter, while revenues were grew 221.65%. The analyst consensus anticipated Cenovus Energy Inc.’s latest quarter earnings to come in at $0.82 per share, but it turned out to be $0.93, a 13.40% surprise. For the quarter, EBITDA amounted to $3.62 billion.
From a technical analysis perspective, let’s take a brief look at Cenovus Energy Inc. (CVE) price momentum. RSI 9-day as of the close on 22 September was 34.44%, suggesting the stock is Neutral, with historical volatility in this time frame at 43.47%.
As of today, CVE’s price is $18.07 -9.20% or -$1.73 from its 5-day moving average. CVE is currently trading -12.32% lower than its 20-day SMA and -7.58% lower than its 100-day SMA. However, the stock’s current price level is +3.83% above the SMA50 and +38.97% above the SMA200.
The stochastic %K and %D were 19.20% and 36.26%, respectively, and the average true range (ATR) was 0.88. With the 14-day stochastic at 0.39% and the average true range at 0.86, the RSI (14) stands at 40.12%. The stock has reached -0.74 on the 9-day MACD Oscillator while the 14-day reading was at -0.65.
The consensus rating for Cenovus Energy Inc. (CVE) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell CVE, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 15 others rate it as a “buy”.
What is CVE’s price target for the next 12 months?
Analysts predict a range of price targets between $22.58 and $29.40, with a median target of $25.60. Taking a look at these predictions, the average price target given by analysts for Cenovus Energy Inc. (CVE) stock is $25.67.