Cenovus Energy Inc (NYSE:CVE) finished Thursday with an addition of $0.13 to close at $21.11, an upside of 0.62 percent. An average of 9,572,720 shares of common stock have been traded in the last five days. There was a gain of $1.42 in the past week, and it reached a new high 15 times over the past 12 months. The last 20 days have seen an average of 7,324,035 shares traded, while the 50-day average volume stands at 7,508,816.
CVE stock has increased by 8.48% in the last month. The company shares reached their 1-month lowest point of $18.93 on 08/29/23. With the stock rallying to its 52-week high on 09/28/23, shares of the company touched a low of $14.74 and a high of $22.09 in 52 weeks. It has reached a new high 8 times so far this year and achieved 8.76% or $1.70 in price. In spite of this, the price is down -4.44% from the 52-week high.
Valuation Metrics
Cenovus Energy Inc (CVE) has a trailing price-to-earnings (P/E) ratio of 14.35. The stock’s beta is 2.20. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.96, the price-to-book (PB) ratio at 1.98, and the price-to-cash flow ratio at 12.22.
The company has a payout ratio of 10.65%. The company’s most recent quarterly dividend payment was $0.1060 a share, representing a up of 1.92% from $0.1040 last year. Its latest increase dividend $0.0020 reported on Thursday July 27 2023.
Financial Health
The quick ratio of Cenovus Energy Inc for the three months ended June 29 was 0.86, 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 0.40 and a total debt to equity ratio of 0.41 for the quarter ending June 29. Cenovus Energy Inc’s EBITDA margin for the year ending June 29 is 22.47%, while its operating margin for the same period stands at 9.44%. Its gross profit as reported stood at $7.06 billion compared to revenue of $51.46 billion.
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 $0.33, a 10.00% 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 28 September was 68.75%, suggesting the stock is Neutral, with historical volatility in this time frame at 26.82%.
As of today, CVE’s price is $20.48 +7.21% or $1.42 from its 5-day moving average. CVE is currently trading +6.89% higher than its 20-day SMA and +32.60% higher than its 100-day SMA. However, the stock’s current price level is +23.45% above the SMA50 and +19.13% above the SMA200.
The stochastic %K and %D were 77.87% and 55.40%, respectively, and the average true range (ATR) was 0.51. With the 14-day stochastic at 94.39% and the average true range at 0.50, the RSI (14) stands at 66.13%. The stock has reached 0.43 on the 9-day MACD Oscillator while the 14-day reading was at 0.37.
Analyst Ratings
Scotiabank upgraded Cenovus Energy Inc (NYSE: CVE) to a a Sector outperform rating in its most recent analyst report. Previously, the stock was rated as a Sector perform.
