The price of Cenovus Energy Inc (NYSE:CVE) shares last traded on Wall Street rose 2.28% to $20.20.
Based on available information, 19 analysts follow Cenovus Energy Inc (NYSE:CVE). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $26.40 and a low of $19.35, we find $23.18. Given the previous closing price of $19.75, this indicates a potential upside of 17.37 percent. CVE stock price is now 5.11% away from the 50-day moving average and 11.74% away from the 200-day moving average. The market capitalization of the company currently stands at $38.31B.
Among analysts, 2 rate the stock a hold while 16 rate it a buy. Brokers who have rated the stock have averaged $23.13 as their price target over the next twelve months.
A total of 29.12% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CVE stock. A new stake in Cenovus Energy Inc shares was purchased by MILLENNIUM MANAGEMENT LLC during the first quarter worth $104,401,000. AVENTAIL CAPITAL GROUP, LP invested $34,428,000 in shares of CVE during the first quarter. In the first quarter, WARATAH CAPITAL ADVISORS LTD. acquired a new stake in Cenovus Energy Inc valued at approximately $34,340,000. WALLEYE CAPITAL LLC acquired a new stake in CVE for approximately $27,321,000. POINT72 EUROPE (LONDON) LLP purchased a new stake in CVE valued at around $25,388,000 in the second quarter.
During the past 12 months, Cenovus Energy Inc has had a low of $14.38 and a high of $22.09. As of last week, the company has a debt-to-equity ratio of 0.41, a current ratio of 1.50, and a quick ratio of 0.86. According to the stock market information, the enterprise value for the company is $44.65B, which is based on a 13.73 price-to-earnings ratio, a 0.79 price-to-earnings-growth ratio, and a beta of 2.23. The fifty day moving average price for CVE is $19.28 and a two-hundred day moving average price translates $18.09 for the stock.
The latest earnings results from Cenovus Energy Inc (NYSE: CVE) was released for Jun, 2023. The net profit margin was 6.91% and return on equity was 14.27% for CVE. The company reported revenue of $9.1 billion for the quarter, compared to $15.01 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -39.38 percent.
Moreover, the firm recently paid out its quarterly dividend on 09/29/2023. Investors who held shares on 09/15/2023 were paid a $0.1029 dividend. On an annualized basis, this represents a $0.39 dividend and a 1.95% percent yield. There was an ex-dividend date of 09/14/2023 for this dividend. In terms of dividend payout ratio, CVE is presently at 10.65%.
Cenovus Energy Inc(CVE) Company Profile
Cenovus Energy Inc., together with its subsidiaries, develops, produces, refines, transports, and markets crude oil and natural gas in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Manufacturing, and U.S. Manufacturing segments. The Oil Sands segment develops and produces bitumen and heavy oil in northern Alberta and Saskatchewan. This segment assets include Foster Creek, Christina Lake, and Sunrise projects, as well as Lloydminster thermal and conventional heavy oil assets. The Conventional segment holds natural gas liquids and natural gas assets primarily located in Elmworth-Wapiti, Kaybob-Edson, Clearwater, and Rainbow Lake operating in Alberta and British Columbia, as well as interests in various natural gas processing facilities. The offshore segment engages in offshore operation, exploration, and development activities in China and the East Coast of Canada. The Canadian Manufacturing segment comprises the owned and operated Lloydminster upgrading and asphalt refining complex, which converts heavy oil and bitumen into synthetic crude oil, diesel, asphalt, and other ancillary products, as well as owns and operates the Bruderheim crude-by-rail terminal and ethanol plants; and markets its production of its own and third-party products. The U.S. Manufacturing segment includes the refining of crude oil to produce gasoline, diesel, jet fuel, asphalt, and other products. Cenovus Energy Inc. was founded in 2009 and is headquartered in Calgary, Canada.
