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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 retiredcfon Sep 30, 2023 7:00am
400 Views
Post# 35663047

Nuttall Details

Nuttall DetailsFirst stock in the clip. He and his family also own it personally. GLTA

https://www.bnnbloomberg.ca/video/eric-nuttall-s-top-picks~2777170

Cenovus Energy (CVE TSX)

Cenovus should reach their final debt target of $4 billion by the end of December or January allowing them to pivot to returing 100 per cent of free cashflow back to shareholders. Trading at a 17 per cent free cashflow yield at US$90WTI, we see the company buying back 10 per cent of their shares via a NCIB and the residualseven per cent via a SIB in the second half of 2024. We think fair value is six times enterprise value to free cash flow (EV/CF) = $43 at US$90WTI = 51 per cent potential upside.

TOP PICK
Cenovus Energy(CVE-T)
29/09/2023
 
Remains bullish on oil prices ($85-$100).
Meaningful leverage to $90 oil price.
January 2024 will see 100% return of capital to shareholders.
Currently trading at 17% to cash flow.
Expecting 50% upside at current oil price. 
Current share price undervalued. 
 
Oil / Gas

Eric Nuttall
$28.280
Owned
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