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Cenovus Energy Inc T.CVE

Alternate Symbol(s):  CVE | CVE.WS | T.CVE.WT | T.CVE.PR.A | CNVEF | T.CVE.PR.B | T.CVE.PR.E | T.CVE.PR.G

Cenovus Energy Inc. is a Canada-based integrated energy company. The Company has oil and natural gas production operations in Canada and the Asia Pacific region, and upgrading, refining and marketing operations in Canada and the United States. The Company's segments include Upstream, Downstream, and Corporate and Eliminations. Its Upstream segment includes Oil Sands, Conventional, and Offshore. Its Downstream segment consists of Canadian Manufacturing, and United States Manufacturing. The Company's upstream operations include oil sands projects in northern Alberta, thermal and conventional crude oil, natural gas and natural gas liquids (NGLs) projects across Western Canada, crude oil production offshore Newfoundland and Labrador and natural gas and NGLs production offshore China and Indonesia. The Company's downstream operations include upgrading and refining operations in Canada and the United States, and commercial fuel operations across Canada.


TSX:CVE - Post by User

Cenovus Energy Inc
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Post by tcellingon Apr 25, 2018 9:39am
151 Views
Post# 27936935

Makes Sense Now

Makes Sense NowWe all knew Q1 would be bad but I don't think anyone predicted those numbers. ? leaked. Market seemed to know. 

Here's the thing now though. Terrible Q1 is baked into price. Q2 will also be bad but not Q1. If crude holds or continues upwards may be an OK quarter (thinking adjusted cash flow ~$400MM). Q3/Q4 should be excellent with ~$1B adjusted cash flow+ at today's prices. 

Market looks ahead, not behind. CVE baked every terrible number they could into Q1 (might as well at that point). Operations better than target. Market may not punish CVE as much as you think. Shareprice surprise may be on the way.

Bullboard Posts
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