The Insider Activity Of Cenovus Energy Inc. (CVE) Should Not Be Ignored


As of Wednesday close, Cenovus Energy Inc.’s (NYSE:CVE) stock was down -$0.26, moving down -1.27 percent to $20.26. The average number of shares traded per day over the past five days has been 5,681,900 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.79 fall in that time frame. In the last twenty days, the average volume was 7,580,340, while in the previous 50 days, it was 8,153,094.

Since last month, CVE stock rose 4.27%. Shares of the company fell to $18.54 on 10/24/22, the lowest level in the past month. A 52-week high of $24.81 was reached on 06/08/22 after having rallying from a 52-week low of $10.68. Since the beginning of this year, CVE’s stock price has risen by 65.66% or $7.98, and marked a new high 42 times. However, the stock has declined by -18.34% since its 52-week high.

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Valuation Metrics

Right now, Cenovus Energy Inc. (CVE) has a P/E ratio of about 10.43. The stock’s beta is 2.35. Besides these, the trailing price-to-sales (P/S) ratio of 0.79, the price-to-book (PB) ratio of 1.91, and the price-to-cash flow ratio of 10.35 may also be considered.

The latest dividend of $0.0760 per share was paid out, which is -9.09% less than last year’s $0.0836.

Financial Health

In the three months ended June 29, Cenovus Energy Inc.’s quick ratio stood at 1.00, while its current ratio was 1.50, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.42, and the total debt-to-equity ratio was 0.43. On the profitability front, the trailing twelve-month gross margin is 48.60% percent. In the year ended June 29, operating margins totaled 14.50%. Based on annual data, CVE earned $2.59 billion in gross profit and brought in $36.99 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 6.30%. Return on equity (ROE) for the past 12 months was 20.90%.

In Cenovus Energy Inc.’s quarter-end financial report for June 29, it reported total debt of $149.37 million against cash and short-term investments of $7.66 million. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. CVE’s revenue fell -3.29% during the quarter, while net income inched up to $15.46 billion. While analysts expected Cenovus Energy Inc. to report $0.78 quarterly earnings, the actual figure was $0.88 per share, beating the consensus estimate by 12.80%. During the quarter, the company generated $2.14 billion in EBITDA. The liabilities of Cenovus Energy Inc. were 20.93 billion at the end of its most recent quarter ended June 29, and its total debt was $14.09 billion.

Technical Picture

This quick technical analysis looks at Cenovus Energy Inc.’s (CVE) price momentum. With a historical volatility rate of 44.63%, the RSI 9-day stood at 48.24% on 23 November.

With respect to its five-day moving average, the current Cenovus Energy Inc. price is down by -3.75% percent or -$0.79. At present, CVE shares trade +1.40% above its 20-day simple moving average and +14.85% percent above its 100-day simple moving average. However, the stock is currently trading approximately +4.33% above its SMA50 and +40.69% above its SMA200.

Stochastic coefficient K was 44.57% and Stochastic coefficient D was 39.06%, while ATR was 0.94. Given the Stochastic reading of 46.96% for the 14-day period, the RSI (14) reading has been calculated as 51.79%. As of today, the MACD Oscillator reading stands at -0.58, while the 14-day reading stands at -0.63.

Analyst Ratings

Cenovus Energy Inc. downgraded its rating on Cenovus Energy Inc. (NYSE: CVE) to a Neutral in a note to investors on November 21, 2022. The analysts firm previously had a Buy rating on the stock.Cenovus Energy Inc. (CVE) has been rated Buy by analysts. According to 0 brokerage firms, CVE is a sell, and 2 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Cenovus Energy Inc. stock as buy, with 15 recommending it as overweight.

With a median target price of $24.47, the current consensus forecast for the stock is $22.75 – $27.88. Based on these forecasts, analysts predict Cenovus Energy Inc. (CVE) will achieve an average price target of $24.98.


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