41.8 F
New York
Wednesday, December 2, 2020

Cenovus Energy Inc. (NYSE:CVE) on the Path to Profitability

Must read

Jefferies Financial Group Inc. (NYSE:JEF) Recent Earnings Shows Major Promise

Jefferies Financial Group Inc. (JEF) shares are trading at higher $23.31 and the avg recommendation for the stock is Strong Buy, while the current...

Array Technologies Inc. (NASDAQ:ARRY) is Waving the Bear Flag

Array Technologies Inc. (ARRY) shares are trading at lower $40.60 and the avg recommendation for the stock is Moderate Buy, while the current analyst...

MGM Growth Properties LLC (NYSE:MGP) Stock is Soaring, Here is Why

MGM Growth Properties LLC (MGP) shares are trading at higher $31.55 and the avg recommendation for the stock is Strong Buy, while the current...

Is the Rough Ride Over for The Allstate Corporation (ALL)

The Allstate Corporation (ALL) shares are trading at higher $104.29 and the avg recommendation for the stock is Moderate Buy, while the current analyst...

Cenovus Energy Inc. (CVE) shares are trading at higher $4.89 and the avg recommendation for the stock is Moderate Buy.

To add more color to this target, the company’s high over the last year is $10.82 and the low is $1.41. Over the last 52 weeks, CVE is down -41.08% while the S&P 500 is up 20.39%%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, CVE reported a profit of $-118.33 million. Cenovus Energy Inc. also saw revenues decrease to $1.57 billion. In addition, CVE has free cash flow of -$841.27 million as of 06-2020. The company’s EBITDA came in at $277.32 million which compares well with its peers.

CVE booked profit margins of -11.00%, its Return on Equity (ROE) is -9.40%, and its Return on Assets is -5.00%. All told, it is clear that, CVE needs to be on your watchlist.

Find out when CVE reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. CVE has a short ratio of 3.82 and outstanding shares of 1.23B.

Company Outlook

CVE has seen increased volume after this news and investors are putting their support behind the value proposition. Traders will also note the company’s earnings per share came in at -1.07. Cenovus Energy Inc. CVE also noted assets of $23.58 billion at the end of the last quarter. Investors should also keep an eye on sector updates as CVE has historically followed its peers on positive news.

All told, Cenovus Energy Inc. CVE has strung together solid data and demonstrated underlying fundamentals. At its current valuation, CVE represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Cenovus Energy Inc. CVE is now commanding a market cap of 6.32B and a float of 1.02B. CVE is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of CVE stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in CVE, either long or short, and we have not been compensated for this article.

Latest article

The Forecast Just Changed on Navistar International Corporation (NYSE:NAV)

Navistar International Corporation (NAV) shares are trading at lower $44.21 and the avg recommendation for the stock is Moderate Buy, while the current analyst...

Great Panther Mining Limited (AMEX:GPL) on the Path to Profitability

Great Panther Mining Limited (GPL) shares are trading at higher $0.84 and the avg recommendation for the stock is Moderate Buy. To add more...

The Last Few Sessions Have Prudential Financial Inc. (PRU) Soaring

Prudential Financial Inc. (PRU) shares are trading at higher $77.11 and the avg recommendation for the stock is Hold, while the current analyst price...

PVH Corp. (NYSE:PVH) Stock is Soaring, Here is Why

PVH Corp. (PVH) shares are trading at higher $81.80 and the avg recommendation for the stock is Moderate Buy, while the current analyst price...

Catalent Inc. (CTLT)’s Stock is Jumping, Here is Why

Catalent Inc. (CTLT) shares are trading at lower $95.77 and the avg recommendation for the stock is Strong Buy, while the current analyst price...