A share price of Cenovus Energy Inc [CVE] is currently trading at $18.58, down -0.38%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The CVE shares have gain 5.21% over the last week, with a monthly amount glided 14.34%, and seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Cenovus Energy Inc [NYSE: CVE] stock has seen the most recent analyst activity on February 23, 2024, when UBS upgraded its rating to a Buy. Previously, Scotiabank upgraded its rating to Sector Outperform on September 06, 2023. On July 12, 2023, UBS initiated with a Neutral rating. Goldman upgraded its rating to a Buy and increased its price target to $22 on June 06, 2023. Scotiabank downgraded its rating to a Sector Perform. Goldman downgraded its rating to Neutral for this stock on November 21, 2022, but kept the price target unchanged to $23. In a note dated October 19, 2022, Jefferies initiated an Buy rating.
Cenovus Energy Inc experienced fluctuations in its stock price throughout the past year between $14.69 and $21.37. Currently, Wall Street analysts expect the stock to reach $17.01 within the next 12 months. Cenovus Energy Inc [NYSE: CVE] shares were valued at $18.58 at the most recent close of the market. An investor can expect a potential drop of -8.45% based on the average CVE price forecast.
Analyzing the CVE fundamentals
Trailing Twelve Months sales for Cenovus Energy Inc [NYSE:CVE] were 38.68B which represents -6.91% decline. Gross Profit Margin for this corporation currently stands at 0.2% with Operating Profit Margin at 0.11%, Pretax Profit Margin comes in at 0.09%, and Net Profit Margin reading is 0.08%. To continue investigating profitability, this company’s Return on Assets is posted at 0.08, Equity is 0.15 and Total Capital is 0.12. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.26.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 18.45 points at the first support level, and at 18.31 for the second support level. However, for the 1st resistance point, the stock is sitting at 18.81, and for the 2nd resistance point, it is at 19.03.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Cenovus Energy Inc [NYSE:CVE] is 1.56. As well, the Quick Ratio is 0.91, while the Cash Ratio is 0.36. Considering the valuation of this stock, the price to sales ratio is 0.90, the price to book ratio is 1.63 and price to earnings (TTM) ratio is 11.78.
