Is Cenovus Energy Inc. (CVE) The Best Stock Under $15 To Buy?

We recently compiled a list of the Best Stocks Under $15 to Buy According to Hedge Funds. In this article, we are going to take a look at where Cenovus Energy Inc. (NYSE:CVE) stands against the other stocks under $15 to buy.

US stocks dropped on Monday, May 5, after President Trump threatened new tariffs to bring back concerns about a trade war. This ended a historic run of gains for the stock market. The S&P 500 dropped about 0.6% to break its longest winning streak in over 20 years. The Dow Jones Industrial Average dropped nearly 0.3% to also report its first loss in the last 10 sessions. The tech-heavy Nasdaq fell almost 0.8%.

READ ALSO: 10 Most Profitable Cheap Stocks to Buy Now and 12 Best Stocks to Buy and Hold For 10 Years.

The US dollar also lost value as Wall Street started questioning whether recent confidence about a possible trade deal with China was misplaced. Previously, investors were optimistic because of indications that the US and China might start talks about tariffs. Chinese officials had shown interest in reopening trade talks with Washington. However, no talks are set to begin anytime soon.

Over the weekend, President Trump said that he has no plans to speak with China’s President Xi this week, even though he said he wants a “fair deal” with China. On Sunday, Trump took to social media and announced a new 100% tariff on movies produced outside the US. According to the President of the US, efforts to start the process would start right away, though he did not give many details about how it would work.

Looking ahead, Wall Street has shifted its focus to the Federal Reserve’s two-day policy meeting, which will start on Tuesday. It is expected that the Fed will keep interest rates the same for now, even though in recent weeks, President Trump has put pressure on its chair, Jerome Powell.

New tariff threats by President Trump and risks of a trade war with China are causing uncertainty in the market.

Methodology

To compile our list of the 11 best stocks under $15 to buy according to hedge funds, we used the Finviz stock screener. We sorted our results based on market capitalization and picked the top 40 stocks with a share price of under $15 as of May 2, 2025. Next, we focused on the top 11 stocks most favored by institutional investors. Data for the hedge fund sentiment surrounding each stock was taken from Insider Monkey’s Q4 2024 database of more than 1,000 elite hedge funds. Finally, the 11 best stocks under $15 to buy were ranked in ascending order based on the number of hedge funds holding stakes in them as of Q4 2024.

Why do we care about what hedge funds do? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).

Cenovus Energy Inc. (NYSE:CVE)

Share Price: $12.04

Number of Hedge Fund Holders: 39

Cenovus Energy Inc. (NYSE:CVE) is a Canadian-based integrated energy company. It has oil and natural gas production operations in Canada and the Asia Pacific region, and upgrading, refining, and marketing operations in Canada and the US. Cenovus Energy Inc. (NYSE:CVE) ranks among the best stocks under $15 to buy now.

The company is making strategic moves to grow and optimize its production through large-scale projects and upgrades with an aim to increase output and efficiency in the future. In Q4 2024, Cenovus Energy Inc. (NYSE:CVE) mechanically completed the Narrows Lake pipeline, which will connect the field to the Christina Lake processing facility. The company announced plans to begin steam injection in the spring and this project is on track to produce first oil by mid-2025. At the Sunrise site, Cenovus Energy Inc. (NYSE:CVE) continued to ramp up production in Q4 2024 after bringing 2 new well pads online in Q3 2024. The company plans to add one more pad in early 2025. Additionally, Cenovus Energy Inc. (NYSE:CVE) completed major work for the West White Rose project in Q4 2024. In 2025, the company’s focus for this project will be on the installation and commissioning of the platform. The West White Rose project is nearly 90% complete and is expected to produce its first oil in 2026.

Overall, CVE ranks 8th on our list of the best stocks under $15 to buy according to hedge funds. While we acknowledge the potential of CVE as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than CVE but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.