Cenovus Energy (CVE.TO) Buy, Sell or Hold

Cenovus Energy (CVE.TO)

40.51

+1.18 (3.00%)

as of Nov 11, 2026, 9:00:00 pm Market Closed.

890 watching

HOLD

Balance sheet is great. Cashflow per share growth is 41%. Reasonable valuation. Trading in line, a fine play. He prefers some smaller caps really trading at a discount like VET, ARX, TOU, CPG, and PEY.

DON'T BUY

Used to own it but didn't like their ConocoPhillips deal. They've consolidated a lot in the last 15 years. He's content owning CNQ instead.

HOLD

Energy is his top net sector exposure. Cheap. Scores near the top on price momentum and valuation, trades at 10x earnings, recent beat. Aims to be debt free by year's end. Incredible cashflows. Low capex spend. See his Top Picks.

BUY

Only large cap energy stock that owns. Sees upside of small cap energy stock embedded in large cap stock. Recent acquisition of refinery at 1.5x cash flow excellent deal. Has pledged to return 100% of free cash flow to shareholders once debt reduced to zero(Q4). Getting 27.5 years of free inventory at current share price. Entire company could privatize within 3 years at current energy prices.

BUY

Doesn't own stock, but thinks company is undervalued relative to free cash flow. Outstanding oilsands operator. Expecting increased share price, dividends and share buybacks. Energy sector very undervalued.

DON'T BUY

Like every other oil company. The share price now assumes oil prices will stay high for a while, but there's no guarantee. Not for him. Lacks stable revenues. Too cyclical.

BUY

Good name. Nice dividend, anticipates it will grow. Good job integrating Husky. They can enjoy the fruits of their labour with higher oil prices that give them more free cashflow, higher ROC to shareholders, and faster debt repayment. Adding Asian gas component was timely.

COMMENT

If you believe the oil price will hold, then CVE should do well. She owns no oil stocks. Oil prices are flattening, because of fears of a recession eroding oil demand. A caveat.

PAST TOP PICK

(A Top Pick May 28/21, Up 207%) 23% free cash flow yield and 3.6x trading multiple. Has committed to return 100% of free cash flow yield back to shareholders, once debt paid back. Expecting 6x multiple on the company which would be a $52 share price. Management team is committed to delivering capital back to shareholders (set bar in terms of capital returns to shareholders).

PARTIAL SELL

Benefitting from high commodity prices. Not a lifetime hold. From here, you probably want to lighten up because things are going so well. A lot of good news is factored into the stock.

BUY

Company executing well, and believes stock is cheap relative to US peers. Good balance sheet and financial metrics. If oil prices stay high, will be a good long term hold. If Russian supply of oil continues to decline, will be great investment. Investors should be aware of oil price volatility.

BUY ON WEAKNESS

If you feel the market's had a good run, and that central banks will slow down the economy to get a handle on inflation, then we'll see a global slowdown. Supply chain issues persist. Balance sheet is superb. Hold, or buy on weakness. Because of Ukraine, Canada's become an attractive place for foreign investors.

SELL ON STRENGTH

The oil stocks have been amazing, but are getting pricey. Hold this to $26, which is maximum valuation. He questions the earnings story of all the oil stocks which are in the end of the 8th inning--not much time left till they become fully valued.

SELL

He models $52, more than twice the current price. Oil stocks are getting very pricey. You can hold this to $26, full max valuation. He questions the earnings story on all oil stocks which are in the 8th inning. There's not much time left for oil stocks and approaching full valuation.

BUY

Currently owns shares in company. Cash flow multiple trading at 4x. ConocoPhillips slowly exiting position - has had downward pressure on stock price. Expecting share prices to grow. With strong energy prices, will be strong financial performance. Keep shares as expecting growth.

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Cenovus Energy (CVE.TO)