Bullboard - Stock Discussion Forum 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.C | T.CVE.PR.E | T.CVE.PR.G

Energy Oil & Gas Integrated

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

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Cenovus Energy Inc > IMO

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Post by riddle5 on Dec 13, 2022 6:34pm

IMO

Apologies in advance as this is not related to CVE- but there is more engagement in this forum...

Can someone please comment or provide a reason why a share price of IMO would drop as drastically as it had Monday- when all other oil companies were rising with the rise of oil over $2 today as well? Especially in light of the fact that IMO just announced they are going to buy back CAD 1.5 billion dollars worth of their own shares for cancellation- for the price of $72.5- $80 -which is also another positive catalyst? Yet the price dropped yesterday by nearly 3% and barely moved today as well.

Thanks in advance to all who provided/shared their insight/opinion and knowledge.

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Comment by woodsmen on Dec 13, 2022 9:39pm

Post your panic over on the IMO board.

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Comment by autofocus111 on Dec 14, 2022 10:21am

Maybe related to the SIB that IMO recently completed. >>>December 14, 2022 CALGARY, Alberta--(BUSINESS WIRE)-- Imperial Oil Limited (TSE: IMO, NYSE American: IMO) announced today that it has taken up and paid for 20,689,655 common shares (“Shares”) at a price of $72.50 per Share (the “Purchase Price”) under Imperial’s offer (the “Offer”) to purchase for cancellation up to $1.5 ...more

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Cenovus Energy Inc