CVE traded over at $30 US back in 2014.
With the acquisition of Husky now complete, production capex complete, and oil headed back to >$100/bbl sometime in 2022 (I may be minority opinion on this), I can easily see CVE trading above this number again.
Everyone probably thinks me crazy for making a prediction like this, but this is not the first commodity bull I have participated in (both Gold/Silver and Oil). I've seen it happen before with companies like CVE and see no reason why it won't again. Of course, this is predicated on my oil price forecast happening.
We are now just entering a "wakeup" stage in this bull market - where generalists are only now beginning to wonder why oil is so strong. Very few have likely added any exposure yet to this sector.
We are not too far from market acceptance that oil prices will be "higher for longer" and that renewable energy will not eliminate the world's need for oil. I expect by May we will see more urgency to participate in the energy space. That is the most fun time of all to be an established holder in the right stocks.
Like Trump used to say "we will be winning so much, you'll get tired of winning".