Published on 1 Jun 2024 on Simply Wall St. via Yahoo Finance
Are Strong Financial Prospects The Force That Is Driving The Momentum In Cenovus Energy Inc.'s...
Cenovus Energy's (TSE:CVE) stock is up by a considerable 18% over the past three months. Given that the market rewards strong financials in the long-term, we wonder if that is the case in this instance. Particularly, we will be paying attention to Cenovus Energy's ROE today.
Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. Put another way, it reveals the company's success at turning shareholder investments into profits.