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Cenovus Energy Inc CVE


Primary Symbol: T.CVE Alternate Symbol(s):  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

Cenovus Energy Inc > CVE outlook in 2024 second half?
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Post by Ztransformeron Jun 26, 2024 1:02am
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Post# 36106365

CVE outlook in 2024 second half?

CVE outlook in 2024 second half?Looking for general thoughts on where CVE stock is potentially headed in 2nd half of this year assuming WTI holds over $75? Believe $4B net debt should come in Q3. Stock has hit low $30s couple times in past two years and retraced back to low to mid $20's ... 

It's definitely quite undervalued with record FCF, increasing dividends (+ oppurtunities of variable dividends), stock repurchase and 100% FCF allocation coming soon. Balance sheet is super healthy with Superior refinery operations ramping up as well. Management is also buying heavily at mid $20s lately.  Any headwinds over the next two quarters for CVE not to hit mid-to-high 30s? Sadly candian o&g just don't get love from investors.  
Thanks!!

Z172
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