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Cenovus Energy (CVE-T)
641 watching
TSE:CVE
25.00
0.50
(2.04%) 1d
Financials
Technical Analysis
Buy, Sell or Hold?
Feb 3, 2023, 9:00 pm
0
BUY on WEAKNESS
Signs of an uptrend, but where we are right now, energy stocks are consolidating and pausing. He's much more cautious in terms of reward/risk. Sideways trading range. You could pick up on weakness, but energy won't get going until late 2024 or 2025.
oil / gas
$24.890
Unknown
TOP PICK
Stockchase Research Editor: Michael O'Reilly We reiterate CVE as a TOP PICK. The company holds $2.4 billion in cash reserves, even after aggressively retiring debt and buying back shares. It trades at 1.8x book and only 5x cash flow. Recently reported earnings support a ROE over 20%. Production is expected to increase 3% next year and refining thruput is expected to be up 28% as no major turnarounds are planned. We recommend trailing up the stop (from $17) to $23, looking to achieve $31 -- upside potential of 24%. Yield 1.8% (Analysts’ price target is $31.00)
oil / gas
TOP PICK
Stockchase Research Editor: Michael O'Reilly Recently reported earnings beat analyst expectations by 20% and supports a ROE of 26%. They expect to increase capital expenditures next year, raising overall production that could see natural gas production boosted by 25%. They plan to continue reducing debt going forward and buy back shares. Re-start of the Toledo, OH refinery will enhance downstream revenues. It trades 9x earnings and 1.8x book. We recommend placing a stop-loss at $17, looking to achieve $30 -- potential upside over 60%. Yield 1.6% (Analysts’ price target is $29.67)
oil / gas
PAST TOP PICK
(A Top Pick Nov 05/21, Up 77%) Very well run company that is paying down debt very quickly.
Expecting final debt target at the end of the year.
Trading at 24% cash flow yield.
Expecting a 14% dividend yield (should be 10%).
Share price could be $50 within the next year.
oil / gas
BUY
Looks fine. Valuation is lower than peers. The balance sheet is good with debt down these days. They are buying back shares and raising their dividend. They made some fine, timely purchases. A key oil play in Canada. As long as oil does well, so will CVE.
oil / gas
PAST TOP PICK
(A Top Pick Nov 05/21, Up 70%) Could still double in a year at $100 oil. It has 29 years of high quality reserves and could privatize in 4 years with free cash flow of $12 billion per year. Thinks they will buy back 10% of stock next year and pay 15% in variable dividends which gives it 25% yield at today's prices. It is profoundly mis-priced. Is vulnerable to big heavy oil discounts.
oil / gas
SELL ON STRENGTH
Any energy stock is facing challenges given recessionary fears and lower demand. Oil will test $80 before $100. Wait on this or sell on strength.
oil / gas
HOLD
Believes energy companies are capital intensive business models that don't control price of commodity.
Hard to know future of the business.
Expect high volatility in share prices.
High shareholder return for energy companies with high oil prices.
Unsure on future of business (speculative).
oil / gas
PAST TOP PICK
(A Top Pick Sep 24/21, Up 101%) Expecting company to double share price.
At $100 oil, company trading at 2.6x cash flow.
Expecting company to buyback 10% of shares, rest of cash will go to dividends.
Thinks a 17% dividend rate is not out of the question.
oil / gas
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.
oil / gas
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.
oil / gas
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.
oil / gas
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.
oil / gas
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.
oil / gas
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.
oil / gas
Cenovus Energy(CVE-T) Rating
Ranking : 5 out of 5
Bullish - Buy Signals / Votes : 14
Neutral - Hold Signals / Votes : 4
Bearish - Sell Signals / Votes : 6
Total Signals / Votes : 24
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, 24 stock analysts published opinions about CVE-T. 14 analysts recommended to BUY the stock. 6 analysts recommended to SELL the stock. The latest stock analyst recommendation is . 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 on . 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?
24 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 2023-02-03, Cenovus Energy (CVE-T) stock closed at a price of $25.
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