Cenovus Energy Inc T.CVE

Fishy

[riddle5]

It's hard to believe how the powers that be, can easily control/manipulate their pick of stocks. CVE can't even get a pop/decent run up like other o&g names do when oil opens up up $1+, -on multiple days at that. It gets shorted hard under $21.99 and goes into red every day- when this is one of the better names out there. 
 

This is getting shorted because someone out there knows something (trading on inside knowledge) that is going to happen and not letting this run. Wouldn't be surprised if in the near days, we here news that they used equity and capital to buy out something. Making this drop even some more. 

The way this has been held back even when oil opens up, is ridiculous. This name is down nearly 8% in the past 6 months- while SU & CNQ has been up over 12% in the same timeframe, against the same FUD out there.

[ssomervst]

Short term aside, I believe the stock will be north of $30 by year end. 

[Inktech]

I agree...this seems more of a decline which is crazy.  Problem is  when everyone raves on a stock and has high targets  it tends to go the other way..... holding long

[ztransforms173]

- your THEORY has be BLOWN AWAY by the CEO BUYING 25,000 CVE shares on 1/11/2024 - in a RATIONAL WORLD, it is HIGHLY UNLIKELY that SOMEBODY OUTSIDE the COMPANY would KNOW more about Cenovus Energy than the CEO of CVE outside a HOSTILE TAKEOVER ATTEMPT z173

[riddle5]

No. Not at all manipulated. just look at how all other names pop on green oil day, while this top name barely gaps up and just crawls back below. Oil is trading near $75 - yet, we are near 52 week lows.

[ztransforms173]

- in my VIEW, the market is CONCERNED that CVE will BUYOUT the 50% share of WRB REFINING held by Phillips 66 DELAYING the 100% FREE CASH FLOW RETURN TO SHAREHOLDERS framework - there is NOTHING WRONG with the CORE OPERATING business segments that are SPINNING OUT HUGE FREE FLOWS of CASH  - POTENTIAL RECESSIONARY FEARS is ALSO a CONTRIBUTOR * you must REMEMBER that CVE TRADING is DOMINATED

[riddle5]

Given nearly 8% price drop in the past 3 months- that thought should already be priced in, along with every other FUD noise. Especially given where we currently sit, vs peers performance in the market of oil staying above $70- much less nearing $75.  share price performance- especially in the recent week+ makes very little sense. 

[autofocus111]

If CVE aims to buy the 50% refining stake then that's okay. The problem is that in recent earnings calls management indicated that this was not part of the current plans. Markets hate surprises, and appear to be sniffing one out.