Cenovus Energy
CVE-T
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About Cenovus Energy (CVE-T)
Cenovus Energy Inc. is an integrated oil company headquartered in Calgary, Alberta.
Cenovus was formed on December 1, 2009 when Encana Corporation split into two distinct companies, with Cenovus becoming a focused integrated oil company.
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PAST TOP PICK
PAST TOP PICK
August 13, 2019
(A Top Pick Jun 18/19, Down 3%) To his surprise, the energy sector (globally) pays the highest yield. The pipelines have held on quite well. He's waiting for energy to come back--rising tides rises all boats.
(A Top Pick Jun 18/19, Down 3%) To his surprise, the energy sector (globally) pays the highest yield. The pipelines have held on quite well. He's waiting for energy to come back--rising tides rises all boats.
oil/gas
TOP PICK
TOP PICK
July 17, 2019
Following the Conoco acquisition, he vowed to not own this. He bought it in June as their asset sales have done well. There has been a good change in investor sentiment. They have 100,000 bpd contracted by rail and another 300,000 bpd by pipeline. They are generating great free cash flow as they are now in harvest mode after a few years of capital expenditures. Yield 1.63% (Analysts’ price target is $14.89)
Following the Conoco acquisition, he vowed to not own this. He bought it in June as their asset sales have done well. There has been a good change in investor sentiment. They have 100,000 bpd contracted by rail and another 300,000 bpd by pipeline. They are generating great free cash flow as they are now in harvest mode after a few years of capital expenditures. Yield 1.63% (Analysts’ price target is $14.89)
oil/gas
DON'T BUY
DON'T BUY
June 27, 2019
oil/gas
TOP PICK
TOP PICK
June 18, 2019
They expect to see another upward move in oil prices soon and he likes the added torque to oil prices this holds. The stock appears to be ending a retracement period and he thinks now is the time to re-enter. Yield 1.67% (Analysts’ price target is $15.53)
They expect to see another upward move in oil prices soon and he likes the added torque to oil prices this holds. The stock appears to be ending a retracement period and he thinks now is the time to re-enter. Yield 1.67% (Analysts’ price target is $15.53)
oil/gas
PAST TOP PICK
PAST TOP PICK
June 14, 2019
(A Top Pick Apr 13/18, Down 9%) Had been hoping the differential would recover. It's a political problem. Consolidated into CNQ instead, as it's generating a ton of cash and that's a safe way to be in the space.
(A Top Pick Apr 13/18, Down 9%) Had been hoping the differential would recover. It's a political problem. Consolidated into CNQ instead, as it's generating a ton of cash and that's a safe way to be in the space.
oil/gas
BUY
BUY
May 13, 2019
Likes it a lot. Trading cheaper than other major energy companies. Huge leverage to higher oil prices. Paid down debt. Will be well ahead of targets to reduce debt. By summer, if we're lucky, should see dividend increases. Well run, reasonable valuations. Wouldn't hesitate to own it down here.
Likes it a lot. Trading cheaper than other major energy companies. Huge leverage to higher oil prices. Paid down debt. Will be well ahead of targets to reduce debt. By summer, if we're lucky, should see dividend increases. Well run, reasonable valuations. Wouldn't hesitate to own it down here.
oil/gas
PAST TOP PICK
PAST TOP PICK
April 25, 2019
(A Top Pick Aug 17/18, Up 15%) Pretty solid quarter the other day. Benefited from curtailment in Alberta. WCS differential affected them. If the differential holds, the profitability explodes. Out of the name now, and into CNQ which has a healthier balance sheet. Could move into the high teens from here.
(A Top Pick Aug 17/18, Up 15%) Pretty solid quarter the other day. Benefited from curtailment in Alberta. WCS differential affected them. If the differential holds, the profitability explodes. Out of the name now, and into CNQ which has a healthier balance sheet. Could move into the high teens from here.
oil/gas
TOP PICK
TOP PICK
April 17, 2019
He expects oil prices to remain strong and there has been a disconnect between stock prices and oil prices right now. The new CEO has been de-leveraging debt and they have interest in two refineries down stream. Yield 1.52% (Analysts’ price target is $14.73)
He expects oil prices to remain strong and there has been a disconnect between stock prices and oil prices right now. The new CEO has been de-leveraging debt and they have interest in two refineries down stream. Yield 1.52% (Analysts’ price target is $14.73)
oil/gas
PAST TOP PICK
PAST TOP PICK
February 14, 2019
(A Top Pick Jan 18/18, Down 12%) It rallied on a bad report. He sold this pick in the summer and is now short on it. They have not delivered on the balance sheet enough and there is still not positive cash flow. It is a small short for him.
(A Top Pick Jan 18/18, Down 12%) It rallied on a bad report. He sold this pick in the summer and is now short on it. They have not delivered on the balance sheet enough and there is still not positive cash flow. It is a small short for him.
oil/gas
DON'T BUY
DON'T BUY
January 21, 2019
Oil and gas makers don't generate the ROE he looks for. They don't have pricing power over their product/commodity; others do. Cenovus is one of the top stocks in this sector, though.
Oil and gas makers don't generate the ROE he looks for. They don't have pricing power over their product/commodity; others do. Cenovus is one of the top stocks in this sector, though.
oil/gas
COMMENT
COMMENT
December 14, 2018
Steady income? He thinks the recent budget for SU-T showing production growth with refining assets makes them pretty stable. He thinks there are lots of others that will recover much quicker -- like Cenovus (CVE-T). Yield 3.6%
Steady income? He thinks the recent budget for SU-T showing production growth with refining assets makes them pretty stable. He thinks there are lots of others that will recover much quicker -- like Cenovus (CVE-T). Yield 3.6%
oil/gas
PAST TOP PICK
PAST TOP PICK
November 28, 2018
(A Top Pick Jun 01/18, Down 31%) This is a high-quality coming that was improving itself. The heavy oil differentials will likely close towards normal levels soon. They are moving more oil by rail and at today’s price it is still a bargain.
(A Top Pick Jun 01/18, Down 31%) This is a high-quality coming that was improving itself. The heavy oil differentials will likely close towards normal levels soon. They are moving more oil by rail and at today’s price it is still a bargain.
oil/gas
BUY
BUY
November 16, 2018
He likes this company. You get very good exposure to WCS differentials. The new CEO is doing a good job of repositioning the company. There is the potential of further monetization of assets. Good entry point to get good exposure with a large cap Canadian stock.
He likes this company. You get very good exposure to WCS differentials. The new CEO is doing a good job of repositioning the company. There is the potential of further monetization of assets. Good entry point to get good exposure with a large cap Canadian stock.
oil/gas
HOLD
HOLD
November 14, 2018
They are not getting the benefit they should be. They have done a complete change in their strategy. Their stock price has held fairly steady over the last year. They are experiencing better numbers than a lot of the small to mid cap names. She thinks it will be considerably higher stock price in 2 years time.
They are not getting the benefit they should be. They have done a complete change in their strategy. Their stock price has held fairly steady over the last year. They are experiencing better numbers than a lot of the small to mid cap names. She thinks it will be considerably higher stock price in 2 years time.
oil/gas
DON'T BUY
DON'T BUY
October 29, 2018
CPG-T vs. SVE-T. He does not think the energy sector is coming back in a big way any time soon. There are over sold indicators so it is okay as a trade but not for long term. We need pipeline capacity. He is fine with CPG-T.
CPG-T vs. SVE-T. He does not think the energy sector is coming back in a big way any time soon. There are over sold indicators so it is okay as a trade but not for long term. We need pipeline capacity. He is fine with CPG-T.
oil/gas
Larry Berman CFA, CMT, CTA
Chief Investment Officer, Partner, ETF Capital Management Inc.
$10.870
Unknown
Comments
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