Stockchase Insights BUY
Cenovus Energy(CVE-T)
18/12/2023
Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research
We do not think Trans Mountain will influence values much. Prices, with global influences, will continue to have a bigger impact. The stock is cheap at 8X earnings and offers a decent, growing dividend. It is one of the few in the sector expected to see per-share growth in '24, in the 20% or so range. Debt is down to 1X cash flow and the share count continues to decline. 3Q results were strong, with good growth and lower debt, though refining margins remain a possible negative variable. Overall, though, it looks fine to us.
Oil / Gas
$21.960