Cenovus Energy

CVE-T

TSE:CVE

2.84
0.43 (17.84%)
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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Analysis and Opinions about CVE-T

Signal
Opinion
Expert
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%
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Cenovus Energy (CVE-T)
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%
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.
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Cenovus Energy (CVE-T)
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.
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.
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Cenovus Energy (CVE-T)
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.
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.
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Cenovus Energy (CVE-T)
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.
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.

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Cenovus Energy (CVE-T)
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.

PAST TOP PICK
PAST TOP PICK
October 11, 2018

(Past Top Pick Sept. 22, 2017, Down 6%) He bought is because he saw a real restructuring story. It was beaten up and he felt new managers would solve those problems. They are slowly doing that like getting rid of some assets and it will work out in the end.

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Cenovus Energy (CVE-T)
October 11, 2018

(Past Top Pick Sept. 22, 2017, Down 6%) He bought is because he saw a real restructuring story. It was beaten up and he felt new managers would solve those problems. They are slowly doing that like getting rid of some assets and it will work out in the end.

PAST TOP PICK
PAST TOP PICK
September 26, 2018

(A Top Pick October 3/17 Up 1%) He did sell this back in late-May when it became apparent a refinery shutdown was going to cause differentials to blow out in the fall. Still a good company, but having cut the dividend to less than 2%, there are better options now.

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Cenovus Energy (CVE-T)
September 26, 2018

(A Top Pick October 3/17 Up 1%) He did sell this back in late-May when it became apparent a refinery shutdown was going to cause differentials to blow out in the fall. Still a good company, but having cut the dividend to less than 2%, there are better options now.

DON'T BUY
DON'T BUY
September 17, 2018

It has been a tough energy call. He thought it was cheap enough after their acquisition and the stock got hammered, but the rally petered out. He got out. Cash flow is not really there. It is lining up as a short if he sees more weakness.

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Cenovus Energy (CVE-T)
September 17, 2018

It has been a tough energy call. He thought it was cheap enough after their acquisition and the stock got hammered, but the rally petered out. He got out. Cash flow is not really there. It is lining up as a short if he sees more weakness.

COMMENT
COMMENT
September 17, 2018

He sold it this year, because he was reducing his energy weighting. New managers have done well selling assets to reduce debt. Have also lowered costs. They don't have the refining capacity, so that's a problem. By 2020, the debt should be low enough to increase the dividend, though he had been expecting 2019.

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Cenovus Energy (CVE-T)
September 17, 2018

He sold it this year, because he was reducing his energy weighting. New managers have done well selling assets to reduce debt. Have also lowered costs. They don't have the refining capacity, so that's a problem. By 2020, the debt should be low enough to increase the dividend, though he had been expecting 2019.

DON'T BUY
DON'T BUY
September 7, 2018

The company has over $9 billion of debt against $19 billion of equity. He would stay away. Heavy oil differentials are problematic. Book value is $15 per share. He thinks the stock is susceptible to further selling pressure as oil prices are expected to drop below $60 soon on a seasonal basis.

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Cenovus Energy (CVE-T)
September 7, 2018

The company has over $9 billion of debt against $19 billion of equity. He would stay away. Heavy oil differentials are problematic. Book value is $15 per share. He thinks the stock is susceptible to further selling pressure as oil prices are expected to drop below $60 soon on a seasonal basis.

BUY
BUY
August 17, 2018

It is down 15% in the past month, due to widening heavy oil differentials. With more rail capacity coming, it will support differentials near WTI less $23 – he is using $20 in his models. They are paying down debt and he thinks the worst is behind them. When stricter sulphur limits are imposed on marine fuels in 2020, he estimates this will have a $5 worsening impact on heavy differentials. However, he thinks this will ultimately lead to higher oil demand globally and higher oil prices.

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Cenovus Energy (CVE-T)
August 17, 2018

It is down 15% in the past month, due to widening heavy oil differentials. With more rail capacity coming, it will support differentials near WTI less $23 – he is using $20 in his models. They are paying down debt and he thinks the worst is behind them. When stricter sulphur limits are imposed on marine fuels in 2020, he estimates this will have a $5 worsening impact on heavy differentials. However, he thinks this will ultimately lead to higher oil demand globally and higher oil prices.

TOP PICK
TOP PICK
August 17, 2018

Turnaround in progress. Integrating cost-cutting. New management has right-sized the ship. Risk is high exposure to WCS Canadian discount. But if oil prices continue to move higher, cash flow will benefit, they’ll pay down debt, and be in a good position going forward. Share pullback has created a good entry level. Yield is 1.7%. (Analysts’ price target is $17.08.)

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Cenovus Energy (CVE-T)
August 17, 2018

Turnaround in progress. Integrating cost-cutting. New management has right-sized the ship. Risk is high exposure to WCS Canadian discount. But if oil prices continue to move higher, cash flow will benefit, they’ll pay down debt, and be in a good position going forward. Share pullback has created a good entry level. Yield is 1.7%. (Analysts’ price target is $17.08.)

WAIT
WAIT
July 23, 2018

Seasonal from Feb.25-May 9 where it had a good run; and starting July 27. Seeing flatlining now. Wait a bit.

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Seasonal from Feb.25-May 9 where it had a good run; and starting July 27. Seeing flatlining now. Wait a bit.

DON'T BUY
DON'T BUY
July 16, 2018

He does not have kind thoughts on it. It is cheap relative to good will. The debt is 50.4%, not overwhelming, but it is rising. He thinks they need to decide if they are just a thermal oil player or conventional. You can't be both. Sty away.

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He does not have kind thoughts on it. It is cheap relative to good will. The debt is 50.4%, not overwhelming, but it is rising. He thinks they need to decide if they are just a thermal oil player or conventional. You can't be both. Sty away.

COMMENT
COMMENT
June 28, 2018

He likes the sector. Heavy oil play can make some sense. The balance sheet is worse than most players in the sector. Growth is lower than competitors. He has a bias towards the entire sector. A rising tide might lift all boats.

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He likes the sector. Heavy oil play can make some sense. The balance sheet is worse than most players in the sector. Growth is lower than competitors. He has a bias towards the entire sector. A rising tide might lift all boats.

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