TSE:CVE
5.99
0.10
(1.70%)
Cenovus Energy
CVE-T
Analysis and Opinions about CVE-T
Signal
Opinion
Expert
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 EGO 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 EGO 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.
Show full opinionHide full opinionTheir 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.
Show full opinionHide full opinionA 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.
Show full opinionHide full opinionHe 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)
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.
Show full opinionHide full opinionWe 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)
Show full opinionHide full opinionThe 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.
Show full opinionHide full opinionHas 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?
Show full opinionHide full opinionOne 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.
Show full opinionHide full opinion(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%.
Show full opinionHide full opinionBalance 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%.
DON'T BUY
DON'T BUY
March 10, 2020
Overlevered with lots of debt that will impair cash flow. This will be at risk if oil prices remain this low for a while, but who knows? Oil prices could change anytime. He's not in the distressed debt game. But if the Saudi-Russian oil war ends, this is a name that will benefit better than others.
Show full opinionHide full opinionOverlevered with lots of debt that will impair cash flow. This will be at risk if oil prices remain this low for a while, but who knows? Oil prices could change anytime. He's not in the distressed debt game. But if the Saudi-Russian oil war ends, this is a name that will benefit better than others.
HOLD
HOLD
March 6, 2020
Buy at $6? He sold CVE earlier to today. He wanted dry powder to find other opportunities. They have the best leverage to an improvement in the Canadian energy sector. If you think oil prices will rebound, you could see a 50% rebound in this -- and many others.
Show full opinionHide full opinionBuy at $6? He sold CVE earlier to today. He wanted dry powder to find other opportunities. They have the best leverage to an improvement in the Canadian energy sector. If you think oil prices will rebound, you could see a 50% rebound in this -- and many others.
BUY
BUY
January 27, 2020
It's an energy name he'd buy. If it rises past $14, it could go to $18.
Show full opinionHide full opinionIt's an energy name he'd buy. If it rises past $14, it could go to $18.
DON'T BUY
DON'T BUY
January 16, 2020
Energy continues to be challenged. Unless you have the very best assets, there continues to be risk. Blackrock, for example, is forsaking energy in their investing. CVE-T has been trying to base out here. The energy sector needs to do more work. If he had to pick one name he would probably buy CNQ-T. It has been outperforming the S&P lately.
Energy continues to be challenged. Unless you have the very best assets, there continues to be risk. Blackrock, for example, is forsaking energy in their investing. CVE-T has been trying to base out here. The energy sector needs to do more work. If he had to pick one name he would probably buy CNQ-T. It has been outperforming the S&P lately.
Cenovus Energy(CVE-T) Rating
Ranking : 5 out of 5
Bullish - Buy Signals / Votes : 11
Neutral - Hold Signals / Votes : 1
Bearish - Sell Signals / Votes : 7
Total Signals / Votes : 19
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, 19 stock analysts published opinions about CVE-T. 11 analysts recommended to BUY the stock. 7 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 Chris Blumas on 2020-07-08. 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?
19 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 2020-07-10, Cenovus Energy (CVE-T) stock closed at a price of $5.99.
