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Cenovus Energy Inc T.CVE.WT


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

Energy Oil & Gas Integrated
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 > $29 target and Q4 Net debt 4 Billion
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Post by vwbusmanon Apr 12, 2023 6:26am
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Post# 35389984

$29 target and Q4 Net debt 4 Billion

$29 target and Q4 Net debt 4 BillionAnalyst Firm Tudor Pickering and Holt confirmed a price target of $29 for Cenovus

Regarding hitting the next debt target:

"we model ~C$400MM in current tax accruals to round out the flow-through to our estimated cash flow, with capex of C$1.1B supporting free cash flow generation of C$535MM and the C$1.2B income tax payable driving quarter-end net debt of C$5.9B. Looking ahead, on ~strip pricing we continue to model achieving the C$4B net debt target in the Q4'23 timeframe"


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