Cenovus Energy Inc. (NYSE:CVE) finished Wednesday with a subtraction of -$0.25 to close at $18.88, a downside of -1.31 percent. An average of 7,328,860 shares of common stock have been traded in the last five days. There was a fall of -$0.43 in the past week, and it reached a new high 8 times over the past 12 months. The last 20 days have seen an average of 7,838,255 shares traded, while the 50-day average volume stands at 6,791,908.
CVE stock has increased by 4.08% in the last month. The company shares reached their 1-month lowest point of $17.45 on 07/24/23. With the stock rallying to its 52-week high on 01/27/23, shares of the company touched a low of $14.38 and a high of $22.09 in 52 weeks. It has reached a new high 6 times so far this year and lost -2.73% or -$0.53 in price. In spite of this, the price is down -14.53% from the 52-week high.
Valuation Metrics
Cenovus Energy Inc. (CVE) has a trailing price-to-earnings (P/E) ratio of 13.02. The stock’s beta is 2.24. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.87, the price-to-book (PB) ratio at 1.82, and the price-to-cash flow ratio at 16.10.
The company has a payout ratio of 21.80%. The company’s most recent quarterly dividend payment was $0.1060 a share, representing a up of 1.92% from $0.1040 last year.
Financial Health
The quick ratio of Cenovus Energy Inc. for the three months ended June 29 was 0.90, and the current ratio was 1.50, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.41 and a total debt to equity ratio of 0.42 for the quarter ending June 29. Its gross profit as reported stood at $7.06 billion compared to revenue of $51.46 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 7.10%.
Earnings Surprise
For the three-month period that ended June 29, Cenovus Energy Inc. had $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 $0.3 per share, but it turned out to be $0.32, a 6.70% surprise. For the quarter, EBITDA amounted to $1.71 billion.
Technical Picture
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 23 August was 43.36%, suggesting the stock is Neutral, with historical volatility in this time frame at 16.19%.
As of today, CVE’s price is $19.18 -2.23% or -$0.43 from its 5-day moving average. CVE is currently trading +4.54% higher than its 20-day SMA and +8.94% higher than its 100-day SMA. However, the stock’s current price level is +13.12% above the SMA50 and -9.97% below the SMA200.
The stochastic %K and %D were 41.01% and 52.32%, respectively, and the average true range (ATR) was 0.48. With the 14-day stochastic at 22.40% and the average true range at 0.50, the RSI (14) stands at 52.35%. The stock has reached -0.27 on the 9-day MACD Oscillator while the 14-day reading was at -0.24.
Analyst Ratings
UBS launched coverage on Cenovus Energy Inc. (NYSE: CVE) in its analyst report released on July 12, 2023. The firm assigned the stock a Neutral rating. 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 3 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 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 $19.35 and $25.76, with a median target of $23.13. Taking a look at these predictions, the average price target given by analysts for Cenovus Energy Inc. (CVE) stock is $22.59.
