How to Buy Cenovus Energy Stock
Cenovus Energy Inc
Cenovus Energy is a oil & gas integrated company located in Alberta, Canada, which is part of the Energy sector, and is traded under the ticker CVE on the NYSE exchange.
Cenovus Energy stock last closed at $18.65, up 1.3% from the previous day, and has increased 21.34% in one year. It has overperformed other stocks in the Oil & Gas Integrated industry by 0.07 percentage points. Cenovus Energy stock is currently +32.65% from its 52-week low of $14.06, and -25.13% from its 52-week high of $24.91.
There are currently 1.92B shares of CVE outstanding. The market cap of CVE is $35.86B. In the last 24 hours, 7.69M CVE shares were traded.
How to Buy Cenovus Energy Stock
Wondering how to invest in Cenovus Energy stock? Here's how.
- Choose where to buy Cenovus Energy stock: You need to pick a stock brokerage, but don't worry - we've sifted through dozens of online stock brokerages and apps to help you determine where to buy Cenovus Energy stock.
- Sign up for your brokerage account: Sign up for 0% commission trading with the highest-rated brokerage we've selected.
- Put funds into your investment account: Select your method of payment and add your information.
- Evaluate Cenovus Energy stock: The Cenovus Energy ticker symbol is CVE. Is Cenovus Energy stock a good investment? Should you buy shares of CVE? How do CVE's underlying business fundamentals look? Do top analysts think Cenovus Energy is a good buy? Why has CVE's stock price moved recently? (Hint: Our stock market research website can help you decide if CVE is a good stock to buy).
- Place your CVE purchase: Decide if you will purchase CVE shares at the current market price or use a limit order to purchase CVE shares at a given price.
- Keep tabs on your CVE position: Create a watchlist to monitor your new investment in Cenovus Energy shares.
Step 1: Choose where to buy Cenovus Energy stock
You need an online brokerage account in order to access the NYSE market and buy CVE shares.
Our favorite brokerage: eToro
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Open eToro AccountStep 2: Sign up for your brokerage account
Now that you've selected the best brokerage, you need to fill out some personal information so you are able to buy CVE today.
How to Create a New Account on eToro
- Click here to get started.
- Provide your personal info to start your new brokerage account.
- Send your information by pressing the "Create Account" button.
Step 3: Put funds into your investment account
Now that you have created your account on the best stock broker app, your next step is to transfer the money for your investment:
Watch the video below to see the process of depositing money into your new brokerage account.
Step 4: Evaluate Cenovus Energy stock
After you have figured out the best place to buy Cenovus Energy stock, it's critical to analyze their stock prior to investing, so you actually wrap your head around the risk as well as the opportunity.
Cenovus Energy Numbers
Cenovus Energy Due Diligence Checks
WallStreetZen was designed to help average investors do better fundamental analysis.
You can view all of the due diligence checks on CVE's stock page.
How is CVE stock valued?
You can use a variety of different financial metrics, analyses, models, and charts to gauge CVE's fair value.
Using relative valuations ratios:
- CVE could be undervalued based on its P/E ratio of 9.6x, relative to Oil & Gas Integrated industry P/E ratio of 27.71x
- CVE could be overvalued based on its P/B ratio of 1.77x, relative to Oil & Gas Integrated industry P/B ratio of 1.74x
- CVE may be undervalued based on its PEG ratio of 0.17x
You can access more valuation research on CVE's stock here.
CVE Financial Health
Passed Health Checks:
- CVE profit margin has gone up from 2.3% to 7.9% in the past year.
- Total CVE debt is lower than 5 years ago, relative to shareholder equity.
- There are more short-term assets than short-term liabilities on the CVE balance sheet.
- CVE's operating cash flow of $7.75B allows it to safely service it's debt of $8.50B.
- CVE earnings of $6.15B is not sufficient to cover its interest payments.
Failed Health Checks:
- CVE has a relatively high debt to equity ratio of 0.98.
- There are more long-term liabilities than short-term assets on the CVE balance sheet.
Is CVE stock a Buy, Hold, or Sell, according to Wall Street analysts?
Out of 3 sell side analysts who give ratings on CVE, the consensus analyst rating on CVE is a Buy
It's important to keep in mind that analyst ratings are not recommendations, nor are they investment advice.
Latest CVE Analyst Forecasts
Neil Mehta, a top 10% analyst from Goldman Sachs downgrades CVE to a hold rating and announces their CVE price target of $23.00, on Nov 21, 2022.
William Janela, a top 2% analyst from Credit Suisse assumes CVE with a buy rating and announces their CVE price target of $37.00, on Aug 11, 2022.
Manav Gupta, a top 32% analyst from Credit Suisse maintains CVE with a buy rating and raises their CVE price target from $32.00 to $37.00, on Jun 9, 2022.
An analyst from Goldman Sachs maintains CVE with a strong buy rating and raises their CVE price target from $21.00 to $24.00, on May 20, 2022.
You can dig deeper into what analysts are saying on the Cenovus Energy stock forecast page.
CVE Technicals
Is CVE Making Money?
Last year, CVE earnings were $3.84B. In the past 5 year, CVE's earnings have grown by -0.94% per year. This was slower than the Oil & Gas Integrated industry average of 30.39%.
Last year, CVE revenue was $48.73B. In the past five year, CVE's revenue has gone up by 32.83% per year. This was faster than the Oil & Gas Integrated industry average of 9.21%.
Dive into CVE's earnings and revenue performance here.
Who is buying/selling CVE?
In the last 12 months, insiders at CVE have not bought or sold any shares.
Dig into more about who owns CVE stock here.
Does CVE provide a stable income stream?
Cenovus Energy pays a dividend of 1.89%, compared to the Oil & Gas Integrated industry's average dividend yield of 7.51%. If you owned $1,000 of CVE stock, you would have been paid $18.94 in the past year.
Cenovus Energy dividend payments have not consistently grown over the past decade and have not remained stable.
Get more analysis about Cenovus Energy dividend yield and history here.
What others are saying about CVE
One of the reasons eToro is our favorite brokerage is because of its social trading community.
Click below to learn what other investors have to say.
Step 5: Place your CVE purchase
There are two primary types of orders:
- Market order: A market order is an order to buy or sell a security at the best price on the market.
Market orders are generally the easiest way to buy. - Limit order: A limit order is an order to buy or sell a security at a specific price (or better).
If you want to be certain you're buying or selling at a particular dollar amount limit, place a limit order.
Click the Open Trade button and eToro will place your order.
If you need more info about investing in stocks on eToro, click the how to video below:
Step 6: Keep tabs on your CVE position
Now that you own some shares in CVE, you'll want to stay up-to-date on your shares.
Start a watchlist to keep track of your CVE stock.
CVE Feed
How to Buy Stock in Cenovus Energy
To reiterate, here are the 6 steps to buy stock in Cenovus Energy:
- Choose where to buy Cenovus Energy stock
- Sign up for your brokerage account
- Put funds into your investment account
- Evaluate Cenovus Energy stock
- Place your CVE purchase
- Keep tabs on your CVE position
If you are looking for a brokerage, eToro is our favorite option.
Get Started with eToro TodayIf you would like to get the latest scoop on your new investment in Cenovus Energy, get started below.
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