AssessmentWe consider CVE to be a decent, though maybe not overly exciting, large cap energy name. It is very cheap at 8X earnings, and offers a nice (and growing dividend). The balance sheet is very strong and it continues to reduce its share count, with it having close to 400 million less shares than it had five years ago. All this 'sounds' good, but it essentially describes most of the Canadian sector these days. That said, we would certainly be comfortable owning it. (5iResearch)