Cenovus Energy Inc. (NYSE:CVE) saw an upside of 0.36% to close Tuesday at $19.27 after adding $0.07 on the day. The 5-day average trading volume is 6,712,060 shares of the company’s common stock. It has gained $19.53 in the past week and touched a new high 4 times within the past 5 days. An average of 7,637,055 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 6,794,280.
CVE’s 1-month performance is 10.81% or $1.95 on its low of $16.84 reached on 07/18/23. The company’s shares have touched a 52-week low of $14.38 and high of $22.09, with the stock’s rally to the 52-week high happening on 01/27/23. YTD, CVE has lost -0.72% or -$0.14 and has reached a new high 6 times. However, the current price is down -12.77% from the 52-week high price.
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Valuation Metrics
CVE stock has a beta of 2.26. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.87 while the price-to-book (PB) in the most recent quarter is 1.83, with the price to cash flow ratio at 18.14.
Cenovus Energy Inc.’s quick ratio for the period ended June 29 was 0.90, with the current ratio over the same period at 1.50. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.41, while the total debt to equity was 0.42.. In terms of profitability, the gross margin trailing 12 months is 49.30%. The trailing 12-month EBITDA margin is 22.47% while for the period ending June 29, Cenovus Energy Inc.’s operating margin was 9.40%. The firm’s gross profit as reported stood at $7.06 billion against revenue of $51.46 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Cenovus Energy Inc.’s cash and short-term investments amounted to $7.66 million against total debt of $11.31 billion. Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 221.65% to $1.68 billion, while revenue of $0.0 was 100.0% off the previous quarter. Analysts expected CVE to announce $0.3 per share in earnings in its latest quarter, but it posted $0.33, representing a 10.00% surprise. EBITDA for the quarter stood at more than $1.71 billion. CVE stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 19.68 billion, with total debt at $11.31 billion.
Let’s look briefly at Cenovus Energy Inc. (CVE) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 August was 73.29% to suggest the stock is trending Overbought, with historical volatility in this time period at 21.65%.
The stock’s 5-day moving average is $19.03, reflecting a +1.47% or $0.28 change from its current price. CVE is currently trading +8.99% above its 20-day SMA, +21.88% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +17.57% and SMA200 by+8.62%.
Stochastic %K and %D was 87.17% and 83.35% and the average true range (ATR) pointed at 0.57. The RSI (14) points at 69.00%, while the 14-day stochastic is at 90.26% with the period’s ATR at 0.56. The stock’s 9-day MACD Oscillator is pointing at 0.23 and 0.66 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Cenovus Energy Inc. (NYSE: CVE), UBS launched coverage with a Neutral rating. Analysts offering their rating for CVE stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate CVE as a “sell,”, while 3 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 15 have offered a “buy” rating.
What is CVE’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $19.35 and a high of $25.76, with their median price target at $22.01. Looking at these predictions, the average price target given by analysts is for Cenovus Energy Inc. (CVE) stock is $22.27.
