CVE stock: buy or sell?

CVE stock price: $8.30 -3.15% At close on August 23rd, 2019

Updated on:
August 23rd, 2019

1

Cenovus Energy closed today at $8.30 and dropped a godawful -3.15%. On Aug/14 CVE collapsed a spooky -5.31%.

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.

Buy setupElegible
New all-time highNo
New 52 week highNo
Price crossing up 200d MANo
100d MA crossing up 200d MANo
This doesn't mean CVE will fall in coming sessions, or it will not rise higher. Simply, it doesn't match our recommended trading systems.

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.
Is CVE a good stock to buy?
DateAnalyst / BrokerPrevious ratingCurrent rating
2019-7-18CIBCNeutralOutperform
2019-4-16Goldman Sachs GroupSellNeutral
2019-1-7Royal Bank of Canadan/aBuy
2019-1-7BMO Capital Marketsn/aAverage
2019-1-31CIBCSector OutperformNeutral
2019-1-28Credit Suisse GroupOutperformOutperform

CVE stock analysis

Daily outlook

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%).

CVE stock chart (daily)

Weekly outlook

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 chart (weekly)

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 $13.10

Nobody 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:
CVE stock price predictions
DateAnalyst / BrokerActionPrevious targetCurrent targetDiff
2019-4-16Goldman Sachs GroupUpgradesn/a$11.00-
2019-1-7Royal Bank of CanadaReiteratesn/a$13.00-
2019-1-7BMO Capital MarketsReiteratesn/a$13.50-
2019-1-28Credit Suisse GroupInitiatesn/a$15.00-
(in average)$0.00$13.100.0%
Moving in a range from $15.00 and $11.00, the price prediction for CVE stock is $13.10. In average, analysts' outlook on CVE price target is stable from previous estimations.

Financials and fundamental analysis

Earnings date and Earnings per Share

Cenovus 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.
CVE earnings date and EPS evolution
QuarterReporting dateEstimated EPSActual EPSSurprise
2017-Q2-n/a2.32n/a
2017-Q3-n/a0.23n/a
2017-Q4-n/a-0.65n/a
2018-Q12018-04-25-0.13-0.48n/a
2018-Q22018-07-26n/a-0.19n/a
2018-Q32018-10-310.17-0.15n/a
2018-Q42019-02-13-0.16-1.03n/a
2019-Q1-n/an/an/a
2019-Q2-n/an/an/a
2019-Q3-n/an/an/a

Annual financial results

Compared 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.

CVE annual Sales and Income evolution
YearSalesYoYIncome/(margin)YoY
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 M40.97%$3,366 M19.4%-717.61%
2018$21,389 M23.54%$-2,669.00 M-12.5%-179.29%

Quarterly financial results

Cenovus 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%.
CVE quarterly Sales and Income evolution
QuarterSales1QoQ2Income1/(margin)QoQ2
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 M15.45%$493.01 M11.9%-986.32%
2018-Q1$4,703 M13.48%$-654.00 M-13.9%-232.66%
2018-Q2$6,027 M28.15%$-418.00 M-6.9%-36.09%
2018-Q3$6,143 M1.92%$-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 M15.04%$110.00 M2.1%-108.11%

Cenovus Energy ownership

When 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:

CVEAPACNQEOGIMO
Market cap$10.2 B$8.1 B$28.0 B$43.8 B$18.8 B
Total shares1,230.0 M376.0 M1,190.0 M580.3 M772.6 M
Float shares1,020.0 M374.6 M1,160.0 M577.9 M234.6 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 selling0.0%0.0%0.0%0.0%0.0%

CVE summary

Friday, August 23rd, 2019
Open$8.42
Close$8.30
Day range$8.27 - $8.66
Previous close$8.57
Session gain-3.15%
Average true range$0.29
50d mov avg$8.88
100d mov avg$8.94
200d mov avg$8.46
Daily patternlt03a
Weekly pattern lt02a

Cenovus Energy performance

To 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:
Stock3m6m12m
CVECenovus Energy1.22%-5.57%-12.17%
APAApache-20.64%-34.75%-49.09%
CNQCanadian Natural ...-8.15%-13.80%-29.02%
EOGEOG Resources-13.09%-20.53%-35.11%
IMOImperial Oil-10.17%-9.61%-21.92%
MROMarathon Oil-18.23%-29.93%-42.23%
PSX15.90%-0.25%-17.19%
SUSuncor Energy-7.50%-14.83%-28.10%

Cenovus Energy competitors

One 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.

Latest CVE stock news