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Bullboard - Stock Discussion Forum 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.... see more

TSX:CVE - Post Discussion

Cenovus Energy Inc > CVE outlook in 2024 second half?
View:
Post by Ztransformer on Jun 26, 2024 1:02am

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
Comment by tinkvid on Jun 26, 2024 9:05am
As you eluded to in one of your previous posts a few months ago, I am watching for any developments with regards to Irving Oil. With the passing of James K Irving and the resignation of Whitcomb effective June 9, .....maybe some sort of deal in the works? (Just speculation)
Comment by Quintessential1 on Jun 27, 2024 5:48pm
Watching to see how a narrower spread and decreased shipping costs with TMX in play affect the bottom line as it will be fully in play for next quarter. A couple of thoughts regarding TMX.  With upgraders being maxed is it worth adding more upgrading capacity or is maxing out TMX volumes a better cost option for heavy crude? To go along with that how much condy is required to ship via TMX ...more  
Cenovus Energy Inc