CVE stock: buy or sell?
August 23rd, 2019
Cenovus Energy Inc., together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States.
Should I buy CVE stock?You can't be a successful trader if you don't follow a methodolgy or system that assist you in choosing companies and the correct market timing. Trading strategies are meant for helping you in the decision process of what stocks to choose and when is the best moment to buy them. There are thousands of trading strategies for you to choose, but at Stocks2.com we prefer those that are simple but successful.
Currently, Cenovus Energy stock doesn't match any of these trading strategies, so our recommendation is not to buy.
|New all-time high||No|
|New 52 week high||No|
|Price crossing up 200d MA||No|
|100d MA crossing up 200d MA||No|
Is Cenovus Energy stock a buy?
Banks and financial institutions publish stock ratings everyday.At Stocks2.com, we detected 6 ratings published for CVE stock in the last month. The general sentiment of these ratings is bullish for CVE stock, with 3 positive ratings.
|Date||Analyst / Broker||Previous rating||Current rating|
|2019-4-16||Goldman Sachs Group||Sell||Neutral|
|2019-1-7||Royal Bank of Canada||n/a||Buy|
|2019-1-7||BMO Capital Markets||n/a||Average|
|2019-1-28||Credit Suisse Group||Outperform||Outperform|
CVE stock analysis
Cenovus Energy dropped a godawful -3.15% and closed at $8.30.
Cenovus Energy dropped a godawful -3.15% and closed at $8.30. Since May when SMA100d and SMA200d crossed up, CVE price slipped $-0.21 per share (-2.47%).
After sliding for 4 weeks, this week Cenovus Energy stepped up a beatiful 1.59%, closing at $8.30. Early July CVE boosted an outstanding 6.48% in just one week. This week broke a red streak of 4 weeks.
Cenovus Energy is in a glaring downtrend, marking consecutive declining peaks and bottoms. Now is trading in between the - range. If the support holds the price, this might mark a double bottom pattern and create a flat-base to reverse this downtrend. Since last week, when CVE stock price broke down the 40-weeks moving avarage line, it slid $-0.24 per share (-2.81%). Stocks below the 200 days moving average line are usually not recommended for average traders. Since early May when SMA20w and SMA40w crossed up, CVE price slipped $-0.67 per share (-7.47%).
CVE stock price history
CVE IPO was on November 20th, 2009 at $0.16 per share1. Since then, CVE stock surged a 5,087.50%, with an average of 565.30% per year. If you had invested $1,000 in CVE stock in 2009, it would worth $50,875.00 today.
1: Adjusted price after possible price splits or reverse-splits.
CVE stock historical price chart
CVE stock reached 52-week highs on April at $10.54, and all-time highs 2011-07-26 with a price of 32.02.
CVE stock price target is $13.10Nobody can reliably foresee how stock prices may evolve in the future. However, many stock price predictions are published every day by banks, financial institutions and independent analysts. The accuracy of these stock price predictions is not very high, and you should not blindly believe and make decisions only based on what this ratings or price target predictions say. We detected 4 price forecasts for Cenovus Energy stock released in the last 30 days:
|Date||Analyst / Broker||Action||Previous target||Current target||Diff|
|2019-4-16||Goldman Sachs Group||Upgrades||n/a||$11.00||-|
|2019-1-7||Royal Bank of Canada||Reiterates||n/a||$13.00||-|
|2019-1-7||BMO Capital Markets||Reiterates||n/a||$13.50||-|
|2019-1-28||Credit Suisse Group||Initiates||n/a||$15.00||-|
Financials and fundamental analysis
Earnings date and Earnings per ShareCenovus Energy presented extraordinary results for 2018-Q4 on February. Cenovus Energy skyrocketed Earnings per Share (EPS) by 543.80%, beating analysts of $-0.16. Cenovus Energy posted $-1.03.
|Quarter||Reporting date||Estimated EPS||Actual EPS||Surprise|
Annual financial resultsCompared to 2017, last anual sales report draw an exceptional growth of 23.54% to $21,389.00 M dollars. In contrary, its earnings margin (compared to revenues) plunged to -12.48%, that is $-2,669.00 million.
|2013||$18,660 M||-||$662 M3.5%||-|
|2014||$17,302 M||-7.28%||$640 M3.7%||-3.29%|
|2015||$13,207 M||-23.67%||$618 M4.7%||-3.47%|
|2016||$12,282 M||-7.00%||$-545.00 M-4.4%||-188.19%|
|2017||$17,314 M||40.97%||$3,366 M19.4%||-717.61%|
|2018||$21,389 M||23.54%||$-2,669.00 M-12.5%||-179.29%|
Quarterly financial resultsCenovus Energy reported $4,516.00 million in sales for 2018-Q4, a -26.49% less compared to previous quarter. Reported quarter earnings marked $-1,356.00 million with a profit margin of -30.03%. Profit margin plummed a -26.10% compared to previous quarter when profit margin was -3.92%. When comparing revenues to same quarter last year, Cenovus Energy sales marked a pretty good increase and soared a 8.97%.
|2017-Q2||$4,040 M||-||$2,580.00 M63.9%||-|
|2017-Q3||$3,590 M||-11.15%||$-55.62 M-1.5%||-102.16%|
|2017-Q4||$4,144 M||15.45%||$493.01 M11.9%||-986.32%|
|2018-Q1||$4,703 M||13.48%||$-654.00 M-13.9%||-232.66%|
|2018-Q2||$6,027 M||28.15%||$-418.00 M-6.9%||-36.09%|
|2018-Q3||$6,143 M||1.92%||$-241.00 M-3.9%||-42.34%|
|2018-Q4||$4,516 M||-26.49%||$-1,356.00 M-30.0%||462.66%|
|2019-Q1||$5,195 M||15.04%||$110.00 M2.1%||-108.11%|
Cenovus Energy ownershipWhen you are planning to invest in shares of a stock, it's worth to check its ownership structure.
Cenovus Energy shares owned by insiders (that is, founders, CEO, CTO, main executives or other management staff) currently counts a 17.16% of all shares.
In case of Cenovus Energy stock, 65.84% of its shares are held by institutions (mutual funds, pension funds, big banks and other large financial institutions). Bearish positions for CVE stock account 0.00%, no big difference from last month.
The following table compares ownership indicators for other stocks related to Cenovus Energy:
|Market cap||$10.2 B||$8.1 B||$28.0 B||$43.8 B||$18.8 B|
|Total shares||1,230.0 M||376.0 M||1,190.0 M||580.3 M||772.6 M|
|Float shares||1,020.0 M||374.6 M||1,160.0 M||577.9 M||234.6 M|
|- Institutional holdings (%)||65.8%||102.3%||73.2%||89.2%||20.6%|
|- Insider holdings (%)||17.2%||0.3%||2.2%||0.5%||69.9%|
|Shares in short selling||0.0%||0.0%||0.0%||0.0%||0.0%|
|Friday, August 23rd, 2019|
|Day range||$8.27 - $8.66|
|Average true range||$0.29|
|50d mov avg||$8.88|
|100d mov avg||$8.94|
|200d mov avg||$8.46|
Cenovus Energy performanceTo measure stock performance is always good to benchmark with competitors or related stocks. We compared Cenovus Energy against Apache, Canadian Natural Resources, EOG Resources, Imperial Oil, Marathon Oil, and Suncor Energy in the following table:
|CNQCanadian Natural ...||-8.15%||-13.80%||-29.02%|
Cenovus Energy competitorsOne check before investing in any stock is to review a list of its competitors, in this case for Cenovus Energy. We picked 7 companies as Cenovus Energy competitors as they are in the same industry or have similar market objectives.
- Apache (APA)
- Canadian Natural Resources (CNQ)
- EOG Resources (EOG)
- Imperial Oil (IMO)
- Marathon Oil (MRO)
- Suncor Energy (SU)
Latest CVE stock news
- Seeking AlphaA Focus On Energy: Cenovus Energy Is UndervaluedJuly 9, 2019
- Seeking AlphaCenovus Energy Cash Flow Will Jump AgainMay 15, 2019
- Seeking AlphaCenovus Energy Is Getting Rid Of Some Painful Roosting ChickensApril 7, 2019
- Seeking AlphaCenovus Energy: Cash Flow BlastDecember 10, 2018
- Seeking AlphaCash Flow Autobahn Ahead For Cenovus EnergyAugust 16, 2018