The stock of Cenovus Energy Inc. (NYSE:CVE) decreased by -$0.17 on Friday to finish at $19.62, down -0.88 percent. The last five days have seen an average of 6,165,260 shares of common stock traded. 6 times new highs were reached in the current year, with a gain of $0.17. The average number of shares traded over the last 20 days was 7,579,520, while the average volume over the last 50 days totaled 6,797,494.
CVE stock appreciated 13.72% since last month. On 07/18/23, the company’s shares reached a one-month low of $16.84. The stock touched a high of $22.09 on 01/27/23, after rallying from a low of $14.38 in 52 weeks. The price of CVE stock has risen by 1.06% or $0.17 this year, reaching a new high 6 times. Still, the stock price is down -11.20% from the 52-week high.
Valuation Metrics
Cenovus Energy Inc. (CVE) has a trailing price-to-earnings (P/E) ratio of 13.44. Beta for the stock is 2.25. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.87, the price-to-book (PB) ratio of 1.88, and the price-to-cash flow ratio of 16.02.
Company paid $0.1060 per share in dividends, an increase of 1.92% from $0.1040 last year.
Financial Health
For the three months ended June 29, Cenovus Energy Inc.’s quick ratio was 0.90, while its current ratio was 1.50, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.41, and the total debt to equity ratio is 0.42. As far as profitability goes, gross margin for the trailing twelve months is 49.30% percent. Cenovus Energy Inc.’s EBITDA margin for the year ended June 29 was 22.47%, whereas its operating margin stood at 9.40% for the same period. Based on annual data, it had gross profit of $7.06 billion and revenue of $51.46 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. CVE’s return on assets (ROA) during the last 12 months has been 7.10%. There was a 22.20% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 14.20%.
Earnings Surprise
According to Cenovus Energy Inc.’s quarterly financial report for the quarter that ended June 29, it had $149.37 million in total debt versus $7.66 million in cash and short-term investments. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $15.46 billion, while revenues fell by -3.29% to $0.0. It was predicted that Cenovus Energy Inc.’s quarterly earnings would be $0.33, but it ended up being $0.3. EBITDA was $1.71 billion for the quarter. At the end of Cenovus Energy Inc.’s most recent quarter ended June 29, its liabilities totaled 19.68 billion, while its total debt was $11.31 billion.
Technical Picture
Here’s a quick look at Cenovus Energy Inc.’s (CVE) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 71.18%, suggesting the stock is Overbought, with a 20.62% historical volatility rate.
The stochastic %K and %D were 88.28% and 89.07% respectively, while the average true range (ATR) was 0.51. Based on the 14-day stochastic reading of 86.18%, the RSI (14) reading is 68.90%. On the 9-day MACD Oscillator, the stock is at 0.34, and the 14-day reading is at 0.54.
Analyst Ratings
In its analyst report released on July 12, 2023, UBS began covering Cenovus Energy Inc. (NYSE: CVE). The stock was rated as a Neutral by the brokerage firm.
