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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.C | 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

Comment by oilandgasmickon Apr 22, 2022 2:23pm
321 Views
Post# 34624622

RE:cenovus holding up real well today...

RE:cenovus holding up real well today...I think oil and gas stocks are holding up very well because investors are starting to realize that with rampant inflation you want to own something "real" that can't be printed by the Federal government.

If you sell O&G stocks at this point then what do you do with the cash?  The interest rates at the bank are still going to be net negative numbers (even with the hikes) and what other sectors are looking promising in the market?  Not many that I can see in an environment with inflation and rising interest rates.

If you think we are heading for a deflationary period then you want to sell commodity stocks and horde cash but I can't see that happening unless we see a huge meltdown in consumer spending and that is very unlikely in the world that we live in.

I have a substantial position in both CVE and SU but I am going to hold for a while longer even though I know that many in the market place will freak out over the hedging losses--even though this has been public info for weeks. 
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