Post by
andy604 on Jan 17, 2024 4:07pm
CVE/ BNN
BNN said money managers are saying CVE downstream business is not up to speed, CVE plans replacing CEOs etc for lack of earnings, so expect lower earnings come Feb, they also said CVE will not meet its 100% buyback/dividend commitment next quarter. Still, long term its a good company.
Comment by
andy604 on Jan 17, 2024 4:09pm
I am sure CVE will have a very strong comment on the BNN / Money Managers opinion
Comment by
meritmat on Jan 17, 2024 7:56pm
Ya sadly I heard the same thing
Comment by
PabloLafortune on Jan 18, 2024 12:28pm
I've been down on management for a couple years now see prior posts. Didn't sell because taxes. Never liked US refining for CVE. Husky was a bad deal compounded by what they sold and didn't sell
Comment by
mrbb on Jan 18, 2024 7:45pm
i agree, CVE acquired HSE during the low market cycle, using stock no cash. CVE was weak in downstream and acquiring HSE fixed that in 1 move plus more SAGD oil sands assets. Both are into SAGD not mining. LKS has thick skin but lost patience with canadian red tape and regulation, wants out of canada but not oil/gas, so he took CVE shares for hse.