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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 Quintessential1on Dec 04, 2022 12:31pm
382 Views
Post# 35149547

RE:RE:Humph - WTI up 3%, CVE down 1%

RE:RE:Humph - WTI up 3%, CVE down 1%It is not really unfortunate as long as the NCIB is in place and CVE is buying back shares in quantities that are as large as they can afford to.  If you look at this as a $40-50 CAD stock by the end of 2023 then these prices (even above $25 CAD) are bargain basement and buybacks are at a 2% tax discount for the next 13 months only and that window is probably too large.  When the market figures out that oil is going north of $100 and CVE is minting money the share price is going north of $30 CAD and the buyback party is probably over.  IMO CVE needs to buyback the 10% of stock that the current NCIB allows before the next ER or they won't be buying back anymore unless AP moves that $30 CAD goal-post and I don't really see that happening. 

GLTA longs



oilandgasmick wrote: Unfortunately for us, the analysts keep screaming "recession, recession, recession and decreased demand" despite any evidence that demand is decreasing.

Meantime a 12mm bbl draw last week. The midterm elections are over and Biden's SPR strategy worked. Now reality sets in.


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