RE:BNN Greg Newman on CenovusWhat a remarkable turnaround for this merged company-- thanks to a somewhat unexpected price renewal that seemed all but impossible less than a year ago.
It survived the disastrous $18B acquisition by the idiot Fergusson and it also survived the dubious management skills of the 2 "Robs" over at Husky. None of them understood that shareholders wanted a relatively low risk entity that could afford a decent dividend while still offering some capital appreciation.
Alex wasn't responsible for the commodity price hike but he understood what the shareholders wanted and his emphasis on debt reduction has really put the company back in the good books of analysts and pension funds.
You notice that he gave everybody a little bit of what they asked for in terms of dividends, buybacks and net debt reduction in his latest moves. Kudos to common sense.
For those that bought Hse at 2.3 bucks those shares are now worth 12 bucks after the .78 exchange share exchange. A 5+ bagger. Congrats to all who had the guts to average down.