Returns since inception, October 2013. Warning: Energy stocks like Cenovus Energy Inc (TSX:CVE)(NYSE:CVE) may still be too risky to buy on the Toronto Stock Exchange due to COVID-19 pandemic. The deal instantly doubled production and the resource base on assets that Cenovus already operated and knows very well, so it appeared to be a reasonable move given the multi-decade life of the oil sands reserves. May 5, 2017 3:01 PM ET | | About: Cenovus Energy Inc. (CVE) by: HF Analyst. Andrew Walker | July 18, 2019 | More on: CVE CVE. The stock is severely oversold at current levels and any upward movement in oil prices will probably send the shares much higher. Share Tweet Email. I understand I can unsubscribe from these updates at any time. It’s important to note that earnings from the refining business can vary. 3 Beaten-Down Stocks Look Attractive, Aphria (TSX:APHA) Stock Plunges: Marijuana Industry in Trouble. Forget Suncor Energy (TSX:SU): These Stocks Can Give You $4,500 Annually, How to Profit From the Market Crash: 2 Stocks to Trade in Short Term. Should You Buy Aphria (TSX:APHA) After Its Recent Pullback? Cenovus Energy - Is Stock A Buy Or Sell? Based on the stock price chart above, it is clear that Cenovus Energy's (NYSE:CVE) shares are in an downward trend, while its competitors Suncor Energy (NYSE:SU), Imperial Oil, Long/Short Equity, Deep Value, Hedge Fund Analyst. Published on October 12, 2019 at 3:32 pm by Reymerlyn Martin in Hedge Funds,News. The Motley Fool Canada » Bank Stocks » Is Cenovus Energy (TSX:CVE) Stock a Buy Right Now? The recent production growth at the project is impressive, but the key point for investors is the long-term potential of the site. Let’s take a look at Cenovus Energy (TSX:CVE)(NYSE:CVE) to see if it deserves to be on your contrarian buy list. Just Released! Development of the three projects is very capital intensive, and will continue to use up a significant part of revenues. Cenovus Energy (CVE-T) 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. The company made a big bet in 2017, spending $17.7 billion to buy out its oil sands partner, ConocoPhillips. Cenovus is a major player in the Canadian oil sands sector, has part ownership in refineries, and owns attractive resources in the Deep Basin plays in Alberta and British Columbia. Enter your email address below to get started now, and join the other thousands of Canadians who have already signed up for their chance to get the market-beating advice from Stock Advisor Canada. HF Analyst. In the third quarter, it produced nearly 57,000 barrels per day, a 15% increase over the same period in 2013. Cenovus slashed its dividend to protect cash flow during the slump, but investors could see the company start to increase the payouts if oil can extend its recovery. With a target capacity of 130,000 barrels per day, the site has enough resources to last more than 40 years. Phase G is nearing completion and should come online in 2015. This article is exclusive for subscribers. Please read the Privacy Statement and Terms of Service for more information. Cenovus just completed the phase F expansion at Foster Creek, and the new unit began production in September. Cenovus is a major player in the Canadian oil sands sector, has part ownership in refineries, and owns attractive resources in the Deep Basin plays in Alberta and British Columbia. Simply click the link below to grab your free copy and discover all 5 of these stocks now. Assuming at least one gets built, the company will be able to move significantly more production to higher-priced markets. However, there are some beaten-up stocks in the sector that might offer strong long-term upside and are not at risk of going bust in the event oil prices tank again. Cenovus is a very attractive play for long-term investors. In the company’s April 2019 update, Cenovus said that every US$1 reduction in the WCS/WTI differential adds about $60 million in adjusted funds flow. Foster Creek is the company’s second oil sands operation. Cenovus has increased its dividend in each of the past three years. Cenovus can cover its existing dividend and sustaining capital program at oil prices that are well below current levels and management is doing a good job of paying down debt. The consensus among analysts is that Cenovus Energy Inc. (CVE) is an Overweight stock at the moment, with a recommendation rating of 2.5. Motley Fool Canada's market-beating team has just released a brand-new FREE report revealing 5 "dirt cheap" stocks that you can buy today for under $49 a share. Avoiding the smaller players with rapidly declining resource bases and highly leveraged balance sheets is probably a good idea. Price/Sales ratio is 0.8x in line with industry average of 0.8x and below S&P 500 of 1.8x. The recovery in Western Canadian Select (WCS) prices from US$11 last fall to the current price near US$47 is a huge benefit for Cenovus. © 2020 The Motley Fool Canada, ULC. Cenovus has space booked on both the Trans Mountain and Keystone XL pipeline projects. Cenovus Energy Inc is expected to release its second-quarter earnings later this month. TSX Stocks: 2 Stars With Reliable 5% Yields, Love High Dividend Yields? In fact, Cenovus has the capacity to refine more than 430,000 barrels of oil per day. The third project under development is Narrows Lake. The Motley Fool Canada » Energy Stocks » 3 Reasons to Buy Cenovus Energy Inc. Our team thinks these 5 stocks are critically undervalued, but more importantly, could potentially make Canadian investors who act quickly a fortune. Iain Butler and the Stock Advisor Canada team only publish their new “buy alerts” twice a month, and only to an exclusively small group. Simply click the link below to grab your free copy and discover all 5 of these stocks now. Fool contributor Andrew Walker has no position in any stock mentioned. I understand I can unsubscribe from these updates at any time. The expected earnings per share for the stock is -$0.02. None have rated the stock as Underweight. They paid off a good chunk of the debt but there is still some left and they suffer compared to some others. This article is exclusive for subscribers. Motley Fool Canada's market-beating team has just released a brand-new FREE report revealing 5 "dirt cheap" stocks that you can buy today for under $49 a share. Let’s take a look at Cenovus Energy (TSX:CVE) (NYSE:CVE) to see if it deserves to be on your contrarian buy list. The carnage in the Canadian oil patch is giving investors a great opportunity to buy top-quality names at very reasonable multiples.
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