The stock of Cenovus Energy Inc (NYSE:CVE) last traded at $16.70, down -2.68% from the previous session.
Data from the available sources indicates that Cenovus Energy Inc (NYSE:CVE) is covered by 20 analysts. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $27.80 and a low of $22.19, we find $24.14. Given the previous closing price of $17.16, this indicates a potential upside of 40.68 percent. CVE stock price is now -13.04% away from the 50-day moving average and -7.98% away from the 200-day moving average. The market capitalization of the company currently stands at $31.67B.
In total, 1 analysts have assigned it a hold rating, and 18 have given it a buy rating. Brokers who have rated the stock have averaged $24.25 as their price target over the next twelve months.
A total of 29.12% of the company’s stock is owned by insiders.
With an opening price of $17.12 on Tuesday morning, Cenovus Energy Inc (NYSE: CVE) set off the trading day. During the past 12 months, Cenovus Energy Inc has had a low of $14.97 and a high of $21.37. As of last week, the company has a debt-to-equity ratio of 0.35, a current ratio of 1.49, and a quick ratio of 0.82. The fifty day moving average price for CVE is $19.20 and a two-hundred day moving average price translates $18.15 for the stock.
The latest earnings results from Cenovus Energy Inc (NYSE: CVE) was released for Sep, 2023. According to the Oil & Gas Integrated Company, earnings per share came in at $0.72, missing analysts’ expectations of $0.75 by -0.03. This compares to $0.62 EPS in the same period last year. The net profit margin was 7.76% and return on equity was 14.85% for CVE. The company reported revenue of $10.86 billion for the quarter, compared to $13.39 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -18.84 percent. For the current quarter, analysts expect CVE to generate $10.54B in revenue.
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.
