Post by
vwbusman on Apr 12, 2023 6:26am
$29 target and Q4 Net debt 4 Billion
Analyst Firm Tudor Pickering and Holt confirmed a price target of $29 for Cenovus
Regarding hitting the next debt target:
"we model ~C$400MM in current tax accruals to round out the flow-through to our estimated cash flow, with capex of C$1.1B supporting free cash flow generation of C$535MM and the C$1.2B income tax payable driving quarter-end net debt of C$5.9B. Looking ahead, on ~strip pricing we continue to model achieving the C$4B net debt target in the Q4'23 timeframe"
Comment by
Margin321 on Apr 12, 2023 12:21pm
Thaty timeline to get to 4B net debt quietly slipped back by a full year. Oh well.
Comment by
vwbusman on Apr 13, 2023 6:59am
Yes - the tax bill took care of that - which was a big disappointment. - They better be heads down, paying off debt and not getting any acquisition ideas - I just want them to hit their debt target and start buying back a meaningful amount of shares and start paying a decent dividend