Cenovus Energy Inc (NYSE: CVE) has seen a decline in its stock price by -1.03 in relation to its previous close of 18.43. However, the company has experienced a -3.54% decline in its stock price over the last five trading sessions. seekingalpha.com reported 2024-06-16 that The stock price took years to respond to the profitability improvements made after the acquisition of the ConocoPhillips Partnership interest. It is therefore not surprising that the stock has not responded to more cash available to return to shareholders in the near future, even after the 29% dividend increase. The refining business should show profitability growth both this fiscal year and for at least a couple more years.
Is It Worth Investing in Cenovus Energy Inc (NYSE: CVE) Right Now?
Cenovus Energy Inc (NYSE: CVE) has a price-to-earnings ratio of 10.13x that is above its average ratio. Additionally, the 36-month beta value for CVE is 2.08. There are mixed opinions on the stock, with 6 analysts rating it as a “buy,” 1 rating it as “overweight,” 6 rating it as “hold,” and 1 rating it as “sell.”
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The public float for CVE is 1.31B and currently, short sellers hold a 2.78% ratio of that float. The average trading volume of CVE on June 17, 2024 was 8.39M shares.
CVE’s Market Performance
The stock of Cenovus Energy Inc (CVE) has seen a -3.54% decrease in the past week, with a -9.12% drop in the past month, and a -1.34% fall in the past quarter. The volatility ratio for the week is 2.66%, and the volatility levels for the past 30 days are at 2.35% for CVE. The simple moving average for the last 20 days is -7.86% for CVE stock, with a simple moving average of -2.22% for the last 200 days.
CVE Trading at -10.55% from the 50-Day Moving Average
After a stumble in the market that brought CVE to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -16.30% of loss for the given period.
Volatility was left at 2.35%, however, over the last 30 days, the volatility rate increased by 2.66%, as shares sank -8.66% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -13.60% lower at present.
During the last 5 trading sessions, CVE fell by -3.54%, which changed the moving average for the period of 200-days by -6.27% in comparison to the 20-day moving average, which settled at $19.71. In addition, Cenovus Energy Inc saw 10.09% in overturn over a single year, with a tendency to cut further gains.
Stock Fundamentals for CVE
Current profitability levels for the company are sitting at:
- 0.12 for the present operating margin
- 0.2 for the gross margin
The net margin for Cenovus Energy Inc stands at 0.08. The total capital return value is set at 0.14. Equity return is now at value 16.20, with 8.57 for asset returns.
Based on Cenovus Energy Inc (CVE), the company’s capital structure generated 0.2 points at debt to capital in total, while cash flow to debt ratio is standing at 1.28. The debt to equity ratio resting at 0.25. The interest coverage ratio of the stock is 10.02.
Currently, EBITDA for the company is 10.27 billion with net debt to EBITDA at 0.64. When we switch over and look at the enterprise to sales, we see a ratio of 0.98. The receivables turnover for the company is 13.77for trailing twelve months and the total asset turnover is 1.0. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.70.
Conclusion
In conclusion, Cenovus Energy Inc (CVE) has seen mixed performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
