As of Wednesday close, Cenovus Energy Inc.’s (NYSE:CVE) stock was down -$0.44, moving down -2.14 percent to $20.15. The average number of shares traded per day over the past five days has been 6,069,940 shares. 3 times new highs have been achieved over the past 5 days, with a -$0.34 fall in that time frame. In the last twenty days, the average volume was 6,457,215, while in the previous 50 days, it was 7,210,382.
Since last month, CVE stock rose 5.06%. Shares of the company fell to $18.30 on 08/25/23, the lowest level in the past month. A 52-week high of $22.09 was reached on 09/19/23 after having rallying from a 52-week low of $14.38. Since the beginning of this year, CVE’s stock price has risen by 3.81% or $0.74, and marked a new high 7 times. However, the stock has declined by -8.78% since its 52-week high.
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Valuation Metrics
Right now, Cenovus Energy Inc. (CVE) has a P/E ratio of about 13.86. The stock’s beta is 2.25. Besides these, the trailing price-to-sales (P/S) ratio of 0.93, the price-to-book (PB) ratio of 1.94, and the price-to-cash flow ratio of 17.14 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. On Thursday July 27 2023, a $0.0020 dividend increase was announced.
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. 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 $0.3 quarterly earnings, the actual figure was $0.33 per share. 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 21.78%, the RSI 9-day stood at 48.64% on 20 September.
With respect to its five-day moving average, the current Cenovus Energy Inc. price is down by -1.66% percent or -$0.34. At present, CVE shares trade +5.33% above its 20-day simple moving average and +25.16% percent above its 100-day simple moving average. However, the stock is currently trading approximately +13.97% above its SMA50 and +2.54% above its SMA200.
Stochastic coefficient K was 60.13% and Stochastic coefficient D was 77.08%, while ATR was 0.48. Given the Stochastic reading of 27.03% for the 14-day period, the RSI (14) reading has been calculated as 54.81%. As of today, the MACD Oscillator reading stands at -0.04, while the 14-day reading stands at 0.07.
Analyst Ratings
Scotiabank upgraded its rating on Cenovus Energy Inc. (NYSE: CVE) to a Sector outperform in a note to investors on September 06, 2023. The analysts firm previously had a Sector perform 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 16 recommending it as overweight.
With a median target price of $23.18, the current consensus forecast for the stock is $19.35 – $26.40. Based on these forecasts, analysts predict Cenovus Energy Inc. (CVE) will achieve an average price target of $23.13.
