Cenovus Energy Stock (NYSE:CVE): Why Caution Is Warranted
Thu, May 2, 2024 12:05 PM

Cenovus Energy Stock (NYSE:CVE): Why Caution Is Warranted

A Flip by Shubhangi Gupta
Get it on Google Play
Cenovus Energy (NYSE:CVE) (TSE:CVE) is a Canadian oil and gas company, with the majority of its production in the oil sands of Alberta. The company trades at 28.7x my estimate of normalized earnings, higher than its current P/E ratio. And with WTI Crude Oil (CM:CL) prices far above their inflation-adjusted average, caution is warranted.

More great flips

Check out the Buzzing Stocks for Today- 9 January, 2025

Check out the Buzzing Stocks for Today- 9 January, 2025

📌Advait Energy Transitions received letter of intent (LoI) from Gujarat Urja Vikas Nigam. 📌BHEL commissioned two units Of 6x170 mw Punatsangchhu-II hydroelectric project (PHEP-II) in Bhutan. 📌Hindalco arm Novelis said it plans to offer $500 million in senior unsecured notes due 2030 in a private offering to refinance debt. 📌MOIL received a penalty order of Rs 16.77 crore.

Open Flip
Tata Motors' JLR Q3 Auto Sales: Wholesales up 3%, retails dip 3%

Tata Motors' JLR Q3 Auto Sales: Wholesales up 3%, retails dip 3%

Tata Motors-owned JLR on Wednesday (January 8) reported a mixed performance for Q3 FY25. Wholesale volumes increased by 3% YoY to 1,04,427 units, reflecting a recovery from prior supply disruptions, while retail sales declined 3% YoY to 1,06,334 units. Shares of Tata Motors Ltd ended at ₹794.85, up by ₹1.45, or 0.18%, on the BSE.

Open Flip
eBay Stock Surges After Meta Launches an Integration Test

eBay Stock Surges After Meta Launches an Integration Test

eBay Stock Surges After Meta Launches Integration Test For Facebook Marketplace: Shares of e-commerce company eBay Inc (NASDAQ:EBAY) are trading higher on Wednesday after Meta Platforms Inc. (NASDAQ:META) said it is rolling out a new test that will integrate listings from eBay directly on Facebook Marketplace. This initiative will initially launch in Germany, France, and the U.S.

Open Flip

Join our Smart Investment Community

More than 2 Million users are using FlipItMoney to stay updated about the business and finance world! Join FlipItMoney now and take smart investment decisions!
Icon