At the time of writing, Cenovus Energy Inc [CVE] stock is trading at $16.05, up 0.44%. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The CVE shares have gain 1.97% over the last week, with a monthly amount drifted -5.09%, and not 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.
For the past year, the stock price of Cenovus Energy Inc fluctuated between $14.62 and $21.79. Currently, Wall Street analysts expect the stock to reach $31 within the next 12 months. Cenovus Energy Inc [NYSE: CVE] shares were valued at $16.05 at the most recent close of the market. An investor can expect a potential return of 93.15% based on the average CVE price forecast.
Analyzing the CVE fundamentals
According to Cenovus Energy Inc [NYSE:CVE], the company’s sales were 40.90B for trailing twelve months, which represents an -3.88% plunge. Gross Profit Margin for this corporation currently stands at 0.17% with Operating Profit Margin at 0.07%, Pretax Profit Margin comes in at 0.09%, and Net Profit Margin reading is 0.07%. To continue investigating profitability, this company’s Return on Assets is posted at 0.07, Equity is 0.13 and Total Capital is 0.08. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.25.
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 15.80 points at the first support level, and at 15.56 for the second support level. However, for the 1st resistance point, the stock is sitting at 16.20, and for the 2nd resistance point, it is at 16.36.
Ratios To Look Out For
It is important to note that Cenovus Energy Inc [NYSE:CVE] has a current ratio of 1.59. In addition, the Quick Ratio stands at 0.95 and the Cash Ratio stands at 0.49. Considering the valuation of this stock, the price to sales ratio is 1.01, the price to book ratio is 1.36 and price to earnings (TTM) ratio is 11.14.
