Cenovus Energy Stock Number Of Shares Shorted
| CVE Stock | USD 21.46 0.18 0.85% |
Cenovus Energy fundamentals help investors to digest information that contributes to Cenovus Energy's financial success or failures. It also enables traders to predict the movement of Cenovus Stock. The fundamental analysis module provides a way to measure Cenovus Energy's intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to Cenovus Energy stock.
Cenovus | Number Of Shares Shorted |
Cenovus Energy Company Number Of Shares Shorted Analysis
Cenovus Energy's Number of Shares Shorted is the total amount of shares that are currently sold short by investors. When a stock is sold short, the short seller assumes the responsibility of repurchasing the stock at a lower price. The speculator will make money if the stock goes down in price or will experience a loss if the stock price goes up.
More About Number Of Shares Shorted | All Equity Analysis
Shares Shorted | = | Shorted by Public | + | by Institutions |
Current Cenovus Energy Number Of Shares Shorted | 33.2 M |
Most of Cenovus Energy's fundamental indicators, such as Number Of Shares Shorted, 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.
Cenovus Number Of Shares Shorted 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 Number Of Shares Shorted. 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.
Click cells to compare fundamentals
If a large number of investors decide to short sell an equity instrument within a small period of time, their combined action can significantly affect the price of the stock.
| Competition |
Based on the recorded statements, Cenovus Energy has 33.2 M of outstending shares currently sold short by investors. This is 292.45% higher than that of the Oil, Gas & Consumable Fuels sector and 262.78% higher than that of the Energy industry. The number of shares shorted for all United States stocks is significantly lower than that of the firm.
Cenovus Number Of Shares Shorted 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 Number Of Shares Shorted 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 number of shares shorted category among related companies.
Cenovus Energy Current Valuation Drivers
We derive many important indicators used in calculating different scores of Cenovus Energy from analyzing Cenovus Energy's financial statements. These drivers represent accounts that assess Cenovus Energy's ability to generate profits relative to its revenue, operating costs, and shareholders' equity. Below are some of Cenovus Energy's important valuation drivers and their relationship over time.
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
| Market Cap | 16.3B | 9.5B | 31.6B | 51.3B | 41.8B | 43.9B | |
| Enterprise Value | 24.7B | 18.4B | 44.1B | 58.4B | 49.5B | 52.0B |
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 Fundamentals
| Return On Equity | 0.15 | ||||
| Return On Asset | 0.0616 | ||||
| Profit Margin | 0.08 % | ||||
| Operating Margin | 0.08 % | ||||
| Current Valuation | 48.42 B | ||||
| Shares Outstanding | 1.87 B | ||||
| Shares Owned By Insiders | 31.50 % | ||||
| Shares Owned By Institutions | 55.40 % | ||||
| Number Of Shares Shorted | 33.2 M | ||||
| Price To Earning | 14.01 X | ||||
| Price To Book | 1.90 X | ||||
| Price To Sales | 0.75 X | ||||
| Revenue | 52.2 B | ||||
| Gross Profit | 16 B | ||||
| EBITDA | 10.27 B | ||||
| Net Income | 4.11 B | ||||
| Cash And Equivalents | 3.69 B | ||||
| Cash Per Share | 1.91 X | ||||
| Total Debt | 9.95 B | ||||
| Debt To Equity | 0.54 % | ||||
| Current Ratio | 1.73 X | ||||
| Book Value Per Share | 15.05 X | ||||
| Cash Flow From Operations | 7.39 B | ||||
| Short Ratio | 2.41 X | ||||
| Earnings Per Share | 1.55 X | ||||
| Price To Earnings To Growth | 0.45 X | ||||
| Target Price | 23.76 | ||||
| Number Of Employees | 6.92 K | ||||
| Beta | 2.78 | ||||
| Market Capitalization | 40.07 B | ||||
| Total Asset | 53.91 B | ||||
| Retained Earnings | 8.91 B | ||||
| Working Capital | 3.5 B | ||||
| Current Asset | 6.47 B | ||||
| Current Liabilities | 1.86 B | ||||
| Annual Yield | 0.02 % | ||||
| Five Year Return | 1.62 % | ||||
| Net Asset | 53.91 B | ||||
| Last Dividend Paid | 0.53 |
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.
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
| 0.8 | E | Eni SpA ADR | PairCorr |
| 0.95 | BP | BP PLC ADR Financial Report 7th of May 2024 | PairCorr |
| 0.97 | SU | Suncor Energy Financial Report 13th of May 2024 | PairCorr |
Moving against Cenovus Stock
| 0.74 | EP | Empire Petroleum Corp | PairCorr |
| 0.56 | SLNG | Stabilis Solutions | PairCorr |
| 0.45 | PBR | Petroleo Brasileiro Financial Report 9th of May 2024 | PairCorr |
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.Check out Cenovus Energy Piotroski F Score and Cenovus Energy Altman Z Score analysis. For information on how to trade Cenovus Stock refer to our How to Trade Cenovus Stock guide.You can also try the Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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.
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities |
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 1.55 | 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.