Should you buy CVE stock before earnings?

17 April 2023, 1:21 PM

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By Dmitry Pargamanik

CVE Shares Could Increase Ahead of Earnings

  • 9 out of the last 12 times, CVE stock had a run up before earnings
  • Pre-Earnings Run Up Averaged 2.8% Gains
CVE is scheduled to report earnings on 26-Apr-2023. The last time Cenovus Energy reported earnings on Feb 16, 2023, the stock dropped by -4.8% to close at $18.38. At its current price of $17.68, CVE post earnings drift is -3.8%. Typically, traders tended to bid up CVE shares (heading into earnings) prior to its scheduled release.

CVE Historical Pre-Earnings Run Up

As you can see from the table below, the data displays the percentage moves CVE had for the last 12 quarters around earnings. The 1 week run up into earnings is notable as it shows that the stock increased 75% of the time for an average gain of 2.8%. That was actually a better bullish play than holding CVE through earnings that saw a 1.0% gain.

CVE historical stock price movement before earnings

Go to CVE Historical Price Movements Around Earnings page



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