Cenovus Energy Inc [CVE] stock prices are up 1.59% to $20.43 at the moment. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The CVE shares have gain 3.08% over the last week, with a monthly amount glided 15.42%, and seem to be holding up well over a long-time horizon.
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On 27, February 2024, Cenovus to webcast Investor Day 2024. In a post published today on Yahoo Finance, Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will hold its 2024 Investor Day in Toronto on Tuesday, March 5, 2024, at 8:30 a.m. ET (6:30 a.m. MT). Members of Cenovus’s Leadership Team will provide an update on the company’s strategy, outlook and operations to invited institutional investors and analysts.
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.
The stock price of Cenovus Energy Inc [CVE] has been fluctuating between $14.69 and $21.37 over the past year. 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 $20.43 at the most recent close of the market. An investor can expect a potential drop of -16.74% based on the average CVE price forecast.
Analyzing the CVE fundamentals
The Cenovus Energy Inc [NYSE:CVE] reported sales of 38.68B for trailing twelve months, representing a drop of -6.91%. 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 20.22 points at the first support level, and at 20.00 for the second support level. However, for the 1st resistance point, the stock is sitting at 20.57, and for the 2nd resistance point, it is at 20.70.
Cenovus Energy Inc [CVE] reported earnings per share of $0.29 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.25/share, meaning a difference of $0.04 and a surprise factor of 16.00%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.72 per share as compared to estimates of $0.75 per share, a difference of -$0.03 representing a surprise of -4.00%.
Ratios To Look Out For
It’s worth pointing out that Cenovus Energy Inc [NYSE:CVE]’s Current Ratio is 1.56. Also, the Quick Ratio is 0.91, while the Cash Ratio stands at 0.36. Considering the valuation of this stock, the price to sales ratio is 0.99, the price to book ratio is 1.79 and price to earnings (TTM) ratio is 12.95.
