TSE:CVE

Cenovus Energy (CVE.TO)

43.99
-0.13 (0.29%)
as of Sep 29, 2026, 8:00:00 pm Market Open.
884 watching
0
BUY
1st class company. Fairly valued at around $29 so isn't expecting tremendous upside. Relatively small at 225,000 barrels a day. Oil weighted. Christina Lake and Foster Creek are superb assets and the gas assets are very inexpensive to operate. Good management. Wonders if US investors will continue to hold.
TOP PICK
Just announced they will have a dividend by year's end. This gives you the oil play. If you want to be in energy, this is a high quality energy asset. Big participation in tar sands and a great partner in ConocoPhillips (COP-N). Will be a blue chip “go to” name.
DON'T BUY
2 largest oil projects are heavy oils at Foster Creek and Christina Lake but 50% of revenues come from gas production so you are not really getting away from natural gas. A “show me” story.
COMMENT
Encana split into 2 separate companies Encana (ECA-T) and Cenovus (CVE-T). If you combined the 2 prices, this would be as cheap as they have been in quite a while. This one is getting cheap under $26. Still not 100% oil.
DON'T BUY
Encana (ECA-T) spun off their oil into this company and both are trading around similar values. Cenovus Looks like a lower growth oil company with a little bit too much on the downstream business. Prefers others. Sold his holdings.
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