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Cenovus Energy (CVE-T)
TSE:CVE
23.12
0.39
(1.66%) 1d
Financials
Technical Analysis
Buy, Sell or Hold?
$21.680
Owned
Because of ESG pressure, big cap oil has decided to buy back shares, pay down debt, increase dividends, keep capex reasonable. Not bad to own over the long term, as oil production is not increasing so prices will stay higher. Hasn't liked CVE since it was spun off. He owns and prefers CNQ.
Great company, but share price driven by price oil.
Wait to buy.
Not a good time to be in energy.
High quality. One of the better Canadian oil and gas producers. Fairly strong balance sheet, small dividend. Stock price drop makes valuation more attractive. Tremendous amount of free cashflow. Increasing dividends. Can buy here, below $20 looks even better.
They hiked their dividend over 30% last quarter. Trades at a decent PE, 7.5x. Pays a 2.5% dividend.
Trouble in last couple quarters. Oil prices will hang in. Nice cashflow. Over 2-4 years, you'll do OK. He owns CNQ.
Missed on Q1 cashflow and production, disappointing. Q4 missed also. Indigestion of fully integrating Husky. Looking for improvement in deliverability and consistency. Looking for a good entry point as it waits out in the penalty box.
CVE is one of Canada's largest integrated energy companies. Its stock price has been hampered lately due to delays in re-starting its two US refineries. However, the company is generating great cash flow allowing for an aggressively retirement of debt and share buyback. It trades at 8x earnings, under 2x book and supports a 25% ROE. We recommend placing a stop-loss at $20, looking to achieve $31 -- upside potential of 29%. Yield 1.9%
(Analysts’ price target is $31.43)It is the cheapest senior in the oil sector but hasn't executed well. Suncor is better as a large cap pure oil play but he prefers the mid-caps such as Headwater and WCP
He owns CNQ instead, mainly because ESG is treating big oil companies like pariahs. So big oil's focus is to buy back shares, keep capex flat, increase dividends, and pay down debt. The bigger companies throw off a lot of free cash as oil price goes up.
Recent CEO retirement not a concern.
Is a top pick and is buying more shares.
Recent selloff unclear as to the reason.
30+ years of reserves.
$70 oil equates to 3.4x cash flow per share.
Pledged to return 100% of free cash flow later this year.
Expecting a $38 share price this year.
Our PAST TOP PICK with CVE has triggered its stop at $23. To remain disciplined, we recommend covering the position at this time. This will result in a net investment loss of 9%, when combined with our previous buy recommendation.
Energy shares on sale right now.
Return of capital to shareholders strong business move.
Economic slowdown will reduce oil prices.
Would not invest in company.
He expects the price of oil will soften so is not buying oil stocks.
We reiterate this Canadian major energy producer as a TOP PICK. The company announced it will buy out its partner’s share of the 160 mbd refinery in Ohio, with a capacity to consume 90 mbd of heavy production. We like it has aggressively been retiring debt and buying back shares, while still growing cash reserves. It trades at under 2x book. Recently reported earnings support a ROE of 25%. We continue to recommend a stop at $23, looking to achieve $33 -- upside potential of 28%. Yield 2.4%
(Analysts’ price target is $32.97)
Cenovus Energy(CVE-T) Rating
Ranking : 5 out of 5
Bullish - Buy Signals / Votes : 17
Neutral - Hold Signals / Votes : 4
Bearish - Sell Signals / Votes : 8
Total Signals / Votes : 29
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, 29 stock analysts published opinions about CVE-T. 17 analysts recommended to BUY the stock. 8 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?
29 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 2023-06-08, Cenovus Energy (CVE-T) stock closed at a price of $23.12.
Underperformed on issues with US refinery, indicates on track to get back online. New CEO bought $1M worth of stock. 30 years of inventory in heavy oil. Huge leverage to oil price. Once debt reaches a certain level, investors will reap all the free cashflow. Its 6x multiple is fair value. Yield is 2.57%.
(Analysts’ price target is $29.78)