Cenovus Energy Inc [CVE] is -9.79% lower this YTD. Is it still time to buy?

Cenovus Energy Inc [NYSE: CVE] loss -0.91% on the last trading session, reaching $17.51 price per share at the time. The company report on November 7, 2023 at 6:00 AM that Cenovus Energy announces renewal of share buyback program.

Cenovus’s renewal of its share buyback program is consistent with the company’s capital allocation framework, which supports enhancing value for investors by returning cash to shareholders, generating strong returns on capital investment and deleveraging its balance sheet. Cenovus believes there are times when the market price of its common shares may not fully reflect the underlying value of its business and future prospects. Depending on the trading price of its common shares and other relevant factors, the company believes purchasing common shares represents an attractive investment opportunity and is in the best interest of Cenovus and its shareholders.

#1 Small-Cap Uranium Stock for Ultra-Fast Gains in 2024

We've uncovered THE ONE small-cap uranium stock that has unearthed a near-surface, high-grade uranium discovery in the Saudi Arabia of Uranium — Canada's prolific Athabasca Basin. Best of all, this small-cap uranium stock is currently flying just below Wall Street's radar… giving you the early-entry opportunity around US$0.30 per share. But that won't last long. Drills are turning right now with results set to be released to the market very, very soon.

Learn all about it in this brand new FREE online report.
Sponsored

Cenovus Energy Inc represents 1.91 billion in outstanding shares, while the company has a total market value of $33.21 billion with the latest information. CVE stock price has been found in the range of $17.415 to $17.775.

If compared to the average trading volume of 7.90M shares, CVE reached a trading volume of 6329147 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Cenovus Energy Inc [CVE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CVE shares is $24.27 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CVE stock is a recommendation set at 1.16. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Scotiabank have made an estimate for Cenovus Energy Inc shares, keeping their opinion on the stock as Sector Outperform, with their previous recommendation back on September 06, 2023.

The Average True Range (ATR) for Cenovus Energy Inc is set at 0.53, with the Price to Sales ratio for CVE stock in the period of the last 12 months amounting to 0.84. The Price to Book ratio for the last quarter was 1.58, with the Price to Cash per share for the same quarter was set at 0.49. Price to Free Cash Flow for CVE in the course of the last twelve months was 15.59 with Quick ratio for the last quarter at 0.82.

Trading performance analysis for CVE stock

Cenovus Energy Inc [CVE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.10. With this latest performance, CVE shares dropped by -10.62% in over the last four-week period, additionally plugging by 4.98% over the last 6 months – not to mention a drop of -13.57% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CVE stock in for the last two-week period is set at 36.36, with the RSI for the last a single of trading hit 35.60, and the three-weeks RSI is set at 38.08 for Cenovus Energy Inc [CVE]. The present Moving Average for the last 50 days of trading for this stock 19.46, while it was recorded at 17.76 for the last single week of trading, and 18.20 for the last 200 days.

Cenovus Energy Inc [CVE]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Cenovus Energy Inc [CVE] shares currently have an operating margin of +15.69 and a Gross Margin at +16.98. Cenovus Energy Inc’s Net Margin is presently recorded at +9.64.

Return on Total Capital for CVE is now 26.82, given the latest momentum, and Return on Invested Capital for the company is 16.65. Return on Equity for this stock inclined to 25.21, with Return on Assets sitting at 11.65. When it comes to the capital structure of this company, Cenovus Energy Inc [CVE] has a Total Debt to Total Equity ratio set at 42.22. Additionally, CVE Total Debt to Total Capital is recorded at 29.69, with Total Debt to Total Assets ending up at 20.84. Long-Term Debt to Equity for the company is recorded at 41.46, with the Long-Term Debt to Total Capital now at 28.61.

Reflecting on the efficiency of the workforce at the company, Cenovus Energy Inc [CVE] managed to generate an average of $1,075,358 per employee. Receivables Turnover for the company is 21.69 with a Total Asset Turnover recorded at a value of 1.21.Cenovus Energy Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.82 and a Current Ratio set at 1.49.

Cenovus Energy Inc [CVE]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CVE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Cenovus Energy Inc go to -8.41%.

An analysis of Institutional ownership at Cenovus Energy Inc [CVE]

The top three institutional holders of CVE stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in CVE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in CVE stock with ownership which is approximately 5.7994%.