Cenovus Energy

CVE-T

TSE:CVE

9.96
0.47 (4.95%)
Husky Energy Inc. is one of Canada’s largest integrated energy companies, headquartered in Calgary, Alberta. Its common shares are publicly traded on the Toronto Stock Exchange under the symbol HSE.
More at Wikipedia

Analysis and Opinions about CVE-T

Signal
Opinion
Expert
BUY
BUY
February 9, 2021

This is one of two oil large-caps he owns. CVE reported an inline quarter today, including taking a charge on the Keystone XL. At $60 oil, CVE is targeted at 19% free cash flow yield. They diluted some upside when they bought Husky Energy, but there are likely some assets in Husky to delever CVE. Large caps like this have really lagged the rise in oil prices but will bounce back. Doesn't know why it's getting pressured today, but he isn't worried. The merger with Husky means CVE is committed to paying down that debt, which he expects to reach a market average for debt by end of 2021.

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Cenovus Energy (CVE-T)
February 9, 2021

This is one of two oil large-caps he owns. CVE reported an inline quarter today, including taking a charge on the Keystone XL. At $60 oil, CVE is targeted at 19% free cash flow yield. They diluted some upside when they bought Husky Energy, but there are likely some assets in Husky to delever CVE. Large caps like this have really lagged the rise in oil prices but will bounce back. Doesn't know why it's getting pressured today, but he isn't worried. The merger with Husky means CVE is committed to paying down that debt, which he expects to reach a market average for debt by end of 2021.

DON'T BUY
DON'T BUY
December 7, 2020

HSE-T + CVE-T: Stay after the merger? He does not own either one. He understands the merger makes sense. There are a lot of cost savings that can be found. He prefers CNQ-T, PXT-T and one of his Top Picks today. He prefers these to HSE-T. If the sector bounces back you could get an uplift.

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Cenovus Energy (CVE-T)
December 7, 2020

HSE-T + CVE-T: Stay after the merger? He does not own either one. He understands the merger makes sense. There are a lot of cost savings that can be found. He prefers CNQ-T, PXT-T and one of his Top Picks today. He prefers these to HSE-T. If the sector bounces back you could get an uplift.

BUY WEAKNESS
BUY WEAKNESS
November 20, 2020

He was not overly enthused by the Husky take over. He has warmed up to the outlook of the stock in a better oil price environment. At $50 oil, they do not compete as well as CNQ or SU. He has started to dip his toe into CVE. At $50 oil, they would be trading at a 24% free cashflow yield, which is compelling for a large cap stock.

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Cenovus Energy (CVE-T)
November 20, 2020

He was not overly enthused by the Husky take over. He has warmed up to the outlook of the stock in a better oil price environment. At $50 oil, they do not compete as well as CNQ or SU. He has started to dip his toe into CVE. At $50 oil, they would be trading at a 24% free cashflow yield, which is compelling for a large cap stock.

COMMENT
COMMENT
September 18, 2020

It's fine but they have a lot of refining exposure where there is overcapacity. It's not terribly overbought like CNQ. There may be better areas to be invested. You probably want Canadian small-cap with some natural gas.

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Cenovus Energy (CVE-T)
September 18, 2020

It's fine but they have a lot of refining exposure where there is overcapacity. It's not terribly overbought like CNQ. There may be better areas to be invested. You probably want Canadian small-cap with some natural gas.

COMMENT
COMMENT
July 8, 2020

The unique thing is their cost profile -- it is very low compared to peers. The trouble for CVE is getting their production out of Canada. That is why he favours pipelines over producers. There is too much commodity price risk, so he would not be a buyer. You might want to consider EOG instead as they do not have pipeline constraints to worry about.

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The unique thing is their cost profile -- it is very low compared to peers. The trouble for CVE is getting their production out of Canada. That is why he favours pipelines over producers. There is too much commodity price risk, so he would not be a buyer. You might want to consider EOG instead as they do not have pipeline constraints to worry about.

BUY WEAKNESS
BUY WEAKNESS
June 23, 2020
Their balance isn't bad nor is their debt. Oil production is up, but they are vulnerable to lower oil prices. A WTI/WCS price pullback--which he expects--will push this stock back below $4. So, don't buy now. Long-term, this is better, or add on pullbacks. If you bought in March, you could so some trading.
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Their balance isn't bad nor is their debt. Oil production is up, but they are vulnerable to lower oil prices. A WTI/WCS price pullback--which he expects--will push this stock back below $4. So, don't buy now. Long-term, this is better, or add on pullbacks. If you bought in March, you could so some trading.
DON'T BUY
DON'T BUY
June 12, 2020
A very levered play to oil. It has over $6.7 billion in liquidity. Their 2021 net-debt to cash flow is 24 times -- an accident waiting to happen. You need higher commodity prices for a some time to make this a good buy. He is not convinced energy prices are ready to get there just yet. He would not be buying now.
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A very levered play to oil. It has over $6.7 billion in liquidity. Their 2021 net-debt to cash flow is 24 times -- an accident waiting to happen. You need higher commodity prices for a some time to make this a good buy. He is not convinced energy prices are ready to get there just yet. He would not be buying now.
BUY WEAKNESS
BUY WEAKNESS
May 20, 2020
He does not cover the company. The stock has recovered well. It is highly leveraged to oil prices, which he thinks are a little high right now (although he sees $40 in Q4 for WTI). It will probably retrace its price a little, perhaps below $4. Long term debt is $7.6 billion against $17 billion in equity, so the balance sheet is in good shape.
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He does not cover the company. The stock has recovered well. It is highly leveraged to oil prices, which he thinks are a little high right now (although he sees $40 in Q4 for WTI). It will probably retrace its price a little, perhaps below $4. Long term debt is $7.6 billion against $17 billion in equity, so the balance sheet is in good shape.
TOP PICK
TOP PICK
May 15, 2020

They have ample liquidity and have access to $5.5 billion in capital. They have cash burn of $1.5 billion. This gives them years of longevity. He thinks Suncor might eventually take a run at them. This is the only large cap company he owns. He thinks it has upside of 100% or more. If you like the outlook for heavy oil, it is a good way to play the recovery. Yield 0% (Analysts’ price target is $6.12)

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They have ample liquidity and have access to $5.5 billion in capital. They have cash burn of $1.5 billion. This gives them years of longevity. He thinks Suncor might eventually take a run at them. This is the only large cap company he owns. He thinks it has upside of 100% or more. If you like the outlook for heavy oil, it is a good way to play the recovery. Yield 0% (Analysts’ price target is $6.12)

DON'T BUY
DON'T BUY
April 20, 2020
We have very depressed oil prices. You want to move into a more defensive category. He Prefers another if you have to have oil exposure.
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Cenovus Energy (CVE-T)
April 20, 2020
We have very depressed oil prices. You want to move into a more defensive category. He Prefers another if you have to have oil exposure.
TOP PICK
TOP PICK
April 3, 2020
The only large cap producer he owns. They have liquidity to make it through. He projects a cash burn of $1.1 billion on over $4 billion of liquidity at $30 oil. Yield 0% (Analysts’ price target is $7.02)
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The only large cap producer he owns. They have liquidity to make it through. He projects a cash burn of $1.1 billion on over $4 billion of liquidity at $30 oil. Yield 0% (Analysts’ price target is $7.02)
COMMENT
COMMENT
March 24, 2020
Has a decent balance sheet with good cash flow. The dividend is safe, but they have cut back their budget over 30%. They will stop oil shipments by rail because of high costs and low oil prices. They were the first to batten down the hatches, but after we endure the oil and virus crises, CVE will survive. If low prices continue, they could cut costs further.
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Cenovus Energy (CVE-T)
March 24, 2020
Has a decent balance sheet with good cash flow. The dividend is safe, but they have cut back their budget over 30%. They will stop oil shipments by rail because of high costs and low oil prices. They were the first to batten down the hatches, but after we endure the oil and virus crises, CVE will survive. If low prices continue, they could cut costs further.
WEAK BUY
WEAK BUY
March 17, 2020
One of the lowest-cost producers in the Oil Sands, and he recommends it even though energy has been decimated. It likely has a good position now, assuming this environment doesn't go on too long. How long Russia and the Saudis can keep prices this low without harming their own economies?
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Cenovus Energy (CVE-T)
March 17, 2020
One of the lowest-cost producers in the Oil Sands, and he recommends it even though energy has been decimated. It likely has a good position now, assuming this environment doesn't go on too long. How long Russia and the Saudis can keep prices this low without harming their own economies?
PAST TOP PICK
PAST TOP PICK
March 12, 2020
(A Top Pick Apr 17/19, Down 74%) It has the problem that it has more debt than he would like because of an acquisition. They paid off a good chunk of the debt but there is still some left and they suffer compared to some others. It will look in the future as a super bargain at these levels. Some oil company somewhere in the world will go into bankruptcy. It makes no sense to sell it here.
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Cenovus Energy (CVE-T)
March 12, 2020
(A Top Pick Apr 17/19, Down 74%) It has the problem that it has more debt than he would like because of an acquisition. They paid off a good chunk of the debt but there is still some left and they suffer compared to some others. It will look in the future as a super bargain at these levels. Some oil company somewhere in the world will go into bankruptcy. It makes no sense to sell it here.
DON'T BUY
DON'T BUY
March 11, 2020
Balance sheets are getting more impaired. Market is starting to hint that dividend may be cut. Wouldn't be adding to his position. Yield is 6%.
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Cenovus Energy (CVE-T)
March 11, 2020
Balance sheets are getting more impaired. Market is starting to hint that dividend may be cut. Wouldn't be adding to his position. Yield is 6%.
Showing 1 to 15 of 359 entries

Cenovus Energy(CVE-T) Rating

Ranking : 4 out of 5

Bullish - Buy Signals / Votes : 6

Neutral - Hold Signals / Votes : 1

Bearish - Sell Signals / Votes : 5

Total Signals / Votes : 12

Stockchase rating for Cenovus Energy is calculated according to the stock experts' signals. A high score means experts mostly recommend to buy the stock while a low score means experts mostly recommend to sell the stock.

Cenovus Energy(CVE-T) Frequently Asked Questions

What is Cenovus Energy stock symbol?

Cenovus Energy is a Canadian stock, trading under the symbol CVE-T on the Toronto Stock Exchange (CVE-CT). It is usually referred to as TSX:CVE or CVE-T

Is Cenovus Energy a buy or a sell?

In the last year, 12 stock analysts published opinions about CVE-T. 6 analysts recommended to BUY the stock. 5 analysts recommended to SELL the stock. The latest stock analyst recommendation is BUY. Read the latest stock experts' ratings for Cenovus Energy.

Is Cenovus Energy a good investment or a top pick?

Cenovus Energy was recommended as a Top Pick by Eric Nuttall on 2021-02-09. Read the latest stock experts ratings for Cenovus Energy.

Why is Cenovus Energy stock dropping?

Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.

Is Cenovus Energy worth watching?

12 stock analysts on Stockchase covered Cenovus Energy In the last year. It is a trending stock that is worth watching.

What is Cenovus Energy stock price?

On 2021-03-04, Cenovus Energy (CVE-T) stock closed at a price of $9.96.