Cenovus Energy Inc T.CVE

Alex bought

[Lawisfun]

This morning:
Filed 2023-03-16 10:48

 

Tx date 2023-03-16

$534,000
+25,000 vol
$21.36 each

good luck to all the longs

[Woodporter]

It looks like Pourbaix is not a poorboy. I wish I had a spare half million to grab CVE on a throw-away discount.

[Lawisfun]

Alex currently holds $35 million CAD in common shares, another ~$30 million value in options (most with low teen strike price), and then his company issued PSUs/RSUs/etc. (which are not insignificant).  He is certainly long his company. Which is nice to see.  good luck to all the longs. 

[Catscratch]

A few other execs we're buying as well.  Over the last few days insiders bought 40,500 shares. I'm sure CVE also has the truck backed up for the NCIB as well.

[Lawisfun]

I hope that's the case. But recall free funds from operations are stifled at $65 WTI.  Which has immediate impact to dry powder available to buy.  They will not use loans for buy backs and rightly so.  It's unfortunate but at low oil (and therefore stock) prices, companies have less funds available for buy backs.  Certainly is the case at $65 WTI.