As of Friday close, Cenovus Energy Inc.’s (NYSE:CVE) stock traded at $19.04. The average number of shares traded per day over the past five days has been 7,032,380 shares. 1 time new highs have been achieved over the past 5 days, with a $0.15 gain in that time frame. In the last twenty days, the average volume was 7,529,585, while in the previous 50 days, it was 6,882,928.
Since last month, CVE stock rose 13.27%. Shares of the company fell to $16.55 on 07/06/23, the lowest level in the past month. A 52-week high of $22.09 was reached on 01/27/23 after having rallying from a 52-week low of $14.38. Since the beginning of this year, CVE’s stock price has dropped by -1.91% or -$0.37, and marked a new high 6 times. However, the stock has declined by -13.81% since its 52-week high.
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Valuation Metrics
Right now, Cenovus Energy Inc. (CVE) has a P/E ratio of about 12.82. The stock’s beta is 2.26. Besides these, the trailing price-to-sales (P/S) ratio of 0.84, the price-to-book (PB) ratio of 1.79, and the price-to-cash flow ratio of 17.15 may also be considered.
The latest dividend of $0.1060 per share was paid out, which is 1.92% more than last year’s $0.1040.
Financial Health
In the three months ended June 29, Cenovus Energy Inc.’s quick ratio stood at 0.90, while its current ratio was 1.50, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.41, and the total debt-to-equity ratio was 0.42. On the profitability front, the trailing twelve-month gross margin is 49.30% percent. In the year ended June 29, EBITDA margin amounted to 22.47%, whereas operating margins totaled 9.40%. Based on annual data, CVE earned $7.06 billion in gross profit and brought in $51.46 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 22.20%. Return on equity (ROE) for the past 12 months was 14.20%.
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 higher 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 $0.31 quarterly earnings, the actual figure was $0.33 per share, beating the consensus estimate by 6.50%. During the quarter, the company generated $1.71 billion in EBITDA. The liabilities of Cenovus Energy Inc. were 19.68 billion at the end of its most recent quarter ended June 29, and its total debt was $11.31 billion.
Technical Picture
This quick technical analysis looks at Cenovus Energy Inc.’s (CVE) price momentum. With a historical volatility rate of 23.55%, the RSI 9-day stood at 70.08% on 04 August.
With respect to its five-day moving average, the current Cenovus Energy Inc. price is up by +0.79% percent or $0.15. At present, CVE shares trade +9.93% above its 20-day simple moving average and +10.31% percent above its 100-day simple moving average. However, the stock is currently trading approximately +14.22% above its SMA50 and +12.33% above its SMA200.
Stochastic coefficient K was 77.90% and Stochastic coefficient D was 77.40%, while ATR was 0.57. Given the Stochastic reading of 83.62% for the 14-day period, the RSI (14) reading has been calculated as 66.82%. As of today, the MACD Oscillator reading stands at 0.20, while the 14-day reading stands at 0.68.
Analyst Ratings
UBS launched its rating on Cenovus Energy Inc. (NYSE: CVE) to a Neutral in a note to investors on July 12, 2023. Cenovus Energy Inc. (CVE) has been rated Buy by analysts. According to 0 brokerage firms, CVE is a sell, and 3 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Cenovus Energy Inc. stock as buy, with 15 recommending it as overweight.
With a median target price of $22.01, the current consensus forecast for the stock is $19.35 – $25.76. Based on these forecasts, analysts predict Cenovus Energy Inc. (CVE) will achieve an average price target of $22.33.
