Cenovus Energy Stock Z Score

CVE Stock  USD 19.99  0.15  0.76%   
Altman Z Score is one of the simplest fundamental models to determine how likely your company is to fail. The module uses available fundamental data of a given equity to approximate the Altman Z score. Altman Z Score is determined by evaluating five fundamental price points available from the company's current public disclosure documents. Check out Cenovus Energy Piotroski F Score and Cenovus Energy Valuation analysis.
For information on how to trade Cenovus Stock refer to our How to Trade Cenovus Stock guide.
  
At present, Cenovus Energy's Long Term Debt To Capitalization is projected to slightly decrease based on the last few years of reporting. The current year's Total Debt To Capitalization is expected to grow to 0.37, whereas Net Invested Capital is forecasted to decline to about 33.5 B. At present, Cenovus Energy's Operating Income is projected to increase significantly based on the last few years of reporting. The current year's EBIT is expected to grow to about 5.7 B, whereas Selling General Administrative is forecasted to decline to about 443.6 M.

Cenovus Z Score Analysis

Cenovus Energy's Z-Score is a simple linear, multi-factor model that measures the financial health and economic stability of a company. The score is used to predict the probability of a firm going into bankruptcy within next 24 months or two fiscal years from the day stated on the accounting statements used to calculate it. The model uses five fundamental business ratios that are weighted according to algorithm of Professor Edward Altman who developed it in the late 1960s at New York University..
 2021 2022 2024 (projected)
Interest Expense1.0B812M557.4M
Depreciation And Amortization4.3B4.4B2.5B

Z Score

 = 

Sum Of

5 Factors

More About Z Score | All Equity Analysis

Current Cenovus Energy Z Score

    
  4.16  
Most of Cenovus Energy's fundamental indicators, such as Z Score, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, Cenovus Energy is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.

First Factor

 = 

1.2 * (

Working Capital

/

Total Assets )

Second Factor

 = 

1.4 * (

Retained Earnings

/

Total Assets )

Thrid Factor

 = 

3.3 * (

EBITAD

/

Total Assets )

Fouth Factor

 = 

0.6 * (

Market Value of Equity

/

Total Liabilities )

Fifth Factor

 = 

0.99 * (

Revenue

/

Total Assets )

Cenovus Z Score Driver Correlations

Understanding the fundamental principles of building solid financial models for Cenovus Energy is extremely important. It helps to project a fair market value of Cenovus Stock properly, considering its historical fundamentals such as Z Score. Since Cenovus Energy's main accounts across its financial reports are all linked and dependent on each other, it is essential to analyze all possible correlations between related accounts. However, instead of reviewing all of Cenovus Energy's historical financial statements, investors can examine the correlated drivers to determine its overall health. This can be effectively done using a conventional correlation matrix of Cenovus Energy's interrelated accounts and indicators.
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Click cells to compare fundamentals
To calculate a Z-Score, one would need to know a company's current working capital, its total assets and liabilities, and the amount of its latest earnings as well as earnings before interest and tax. Z-Scores can be used to compare the odds of bankruptcy of companies in a similar line of business or firms operating in the same industry. Companies with Z-Scores above 3.1 are generally considered to be stable and healthy with a low probability of bankruptcy. Scores that fall between 1.8 and 3.1 lie in a so-called 'grey area,' with scores of less than 1 indicating the highest probability of distress. Z Score is a used widely measure by financial auditors, accountants, money managers, loan processors, wealth advisers, and day traders. In the last 25 years, many financial models that utilize z-scores proved it to be successful as a predictor of corporate bankruptcy.
Competition

In accordance with the company's disclosures, Cenovus Energy has a Z Score of 4.16. This is 86.55% higher than that of the Oil, Gas & Consumable Fuels sector and 36.68% lower than that of the Energy industry. The z score for all United States stocks is 52.29% higher than that of the company.

Cenovus Z Score Peer Comparison

Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Cenovus Energy's direct or indirect competition against its Z Score to detect undervalued stocks with similar characteristics or determine the stocks which would be a good addition to a portfolio. Peer analysis of Cenovus Energy could also be used in its relative valuation, which is a method of valuing Cenovus Energy by comparing valuation metrics of similar companies.
Cenovus Energy is currently under evaluation in z score category among related companies.

Cenovus Energy ESG Sustainability

Some studies have found that companies with high sustainability scores are getting higher valuations than competitors with lower social-engagement activities. While most ESG disclosures are voluntary and do not directly affect the long term financial condition, Cenovus Energy's sustainability indicators can be used to identify proper investment strategies using environmental, social, and governance scores that are crucial to Cenovus Energy's managers, analysts, and investors.
Environment Score
Governance Score
Social Score

Cenovus Energy Institutional Holders

Institutional Holdings refers to the ownership stake in Cenovus Energy that is held by large financial organizations, pension funds or endowments. Institutions may purchase large blocks of Cenovus Energy's outstanding shares and can exert considerable influence upon its management. Institutional holders may also work to push the share price higher once they own the stock. Extensive social media coverage, TV shows, articles in high-profile magazines, and presentations at investor conferences help move the stock higher, increasing Cenovus Energy's value.
Shares
Bank Of America Corp2023-12-31
19.7 M
Fidelity International Ltd2023-12-31
17.3 M
Millennium Management Llc2023-12-31
16.5 M
Morgan Stanley - Brokerage Accounts2023-12-31
15 M
Cibc Global Asset Management Inc2023-12-31
15 M
Egerton Capital Llp2023-12-31
14.2 M
Bank Of Nova Scotia2023-12-31
13.1 M
Mackenzie Investments2023-12-31
11.1 M
Capital Research & Mgmt Co - Division 32023-12-31
10.7 M
Capital World Investors2023-12-31
150.5 M
Capital Research Global Investors2023-12-31
120.4 M

Cenovus Fundamentals

About Cenovus Energy Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Cenovus Energy's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Cenovus Energy using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Cenovus Energy based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Cenovus Energy Inc., together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada, the United States, and the Asia Pacific region. Cenovus Energy Inc. was founded in 2009 and is headquartered in Calgary, Canada. Cenovus Energy operates under Oil Gas Integrated classification in the United States and is traded on New York Stock Exchange. It employs 5938 people.

Cenovus Energy Investors Sentiment

The influence of Cenovus Energy's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Cenovus. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock market does not have solid backing from leading economists and market statisticians.
Investor biases related to Cenovus Energy's public news can be used to forecast risks associated with an investment in Cenovus. The trend in average sentiment can be used to explain how an investor holding Cenovus can time the market purely based on public headlines and social activities around Cenovus Energy. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
Cenovus Energy's market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for Cenovus Energy's and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average Cenovus Energy's news discussions. The higher the estimated score, the more favorable is the investor's outlook on Cenovus Energy.

Cenovus Energy Implied Volatility

    
  26.26  
Cenovus Energy's implied volatility exposes the market's sentiment of Cenovus Energy stock's possible movements over time. However, it does not forecast the overall direction of its price. In a nutshell, if Cenovus Energy's implied volatility is high, the market thinks the stock has potential for high price swings in either direction. On the other hand, the low implied volatility suggests that Cenovus Energy stock will not fluctuate a lot when Cenovus Energy's options are near their expiration.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Cenovus Energy in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Cenovus Energy's short interest history, or implied volatility extrapolated from Cenovus Energy options trading.

Pair Trading with Cenovus Energy

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Cenovus Energy position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Cenovus Energy will appreciate offsetting losses from the drop in the long position's value.

Moving together with Cenovus Stock

  0.92BP BP PLC ADR Financial Report 7th of May 2024 PairCorr
  0.93SU Suncor Energy Financial Report 13th of May 2024 PairCorr

Moving against Cenovus Stock

  0.6EC Ecopetrol SA ADR Report 3rd of April 2024 PairCorr
  0.5PBR Petroleo Brasileiro Aggressive PushPairCorr
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The ability to find closely correlated positions to Cenovus Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cenovus Energy when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Cenovus Energy - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Cenovus Energy to buy it.
The correlation of Cenovus Energy is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Cenovus Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cenovus Energy moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Cenovus Energy can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Pair CorrelationCorrelation Matching
When determining whether Cenovus Energy is a strong investment it is important to analyze Cenovus Energy's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Cenovus Energy's future performance. For an informed investment choice regarding Cenovus Stock, refer to the following important reports:
Check out Cenovus Energy Piotroski F Score and Cenovus Energy Valuation analysis.
For information on how to trade Cenovus Stock refer to our How to Trade Cenovus Stock guide.
You can also try the Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.

Complementary Tools for Cenovus Stock analysis

When running Cenovus Energy's price analysis, check to measure Cenovus Energy's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Cenovus Energy is operating at the current time. Most of Cenovus Energy's value examination focuses on studying past and present price action to predict the probability of Cenovus Energy's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Cenovus Energy's price. Additionally, you may evaluate how the addition of Cenovus Energy to your portfolios can decrease your overall portfolio volatility.
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Is Cenovus Energy's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Cenovus Energy. If investors know Cenovus will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Cenovus Energy listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
(0.03)
Dividend Share
0.525
Earnings Share
1.56
Revenue Per Share
27.541
Quarterly Revenue Growth
(0.07)
The market value of Cenovus Energy is measured differently than its book value, which is the value of Cenovus that is recorded on the company's balance sheet. Investors also form their own opinion of Cenovus Energy's value that differs from its market value or its book value, called intrinsic value, which is Cenovus Energy's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Cenovus Energy's market value can be influenced by many factors that don't directly affect Cenovus Energy's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Cenovus Energy's value and its price as these two are different measures arrived at by different means. Investors typically determine if Cenovus Energy is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Cenovus Energy's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.