Cenovus Energy Inc T.CVE

We are even right now....

[bassfishing88]

Are you kidding me, wtf is wrong with cenovus compared to the other oil plays- so frustrating withy this stock. And yes it has gone up recently but why does it lag on days when all the others are green?

[MigraineCall]

CVE selloff has been mainly on the US side. Canadian side has been forced to follow. Perhaps some large US position being liquidated.

[bassfishing88]

Wow what a landslide. Wonder what Nuttal will say about this and BTE tomorrow on marketcall.

[autofocus111]

Yeah, and I see alot more OI in the options chain on the US side too. I know the big Canadian players like SU CVE etc. want access to US capital, but damm I'd like to see where these stock prices would trade if they only had listings on the TSE.

[Lawisfun]

Clobbered.  good luck to all the longs. 

[Diligent2]

Heard things like "they keep putting off return of money to shareholders", " $4 billion debt put off to last quarter", did they obsorb costs for refinery fire : poor negotiating skills. poor refinery record.

[Quintessential1]

To be fair most of the refinery losses were atributable to refinaries not under their operational control.  I expect this to lessen considerably this year and when it does that can (putting off returns to shareholders)  will stop getting kicked down the road.  This is one stock and mangement team I do not worry about. GLTA 

[oilandgasmick]

Obviously the bank crises and interest rate hikes have had a detrimental effect on the share price but I think the decision to wait until the end of the year to hike dividends was damaging and ill advised. The $4 Billion debt floor was an arbitrary number that certainly wasn't written in stone. They could just as easily have increased the dividends and the subsequent yield to around 4% and

[Lawisfun]

Great point.  100% agree.  

[Cabarete1]

Me thinks that they want to keep their powder dry in hopes for another aquisition.  

[Quintessential1]

They could be keeping their powder dry for an acquisition but it hardly neccessary considering they have no problem going back to the well if cash is needed in such a case so they may as well slap that cash down on net debt and save the interest costs until it is needed again.  It the same reason they didn't just stuff the cash required to pay their tax bill in an account and let it earn

[vwbusman]

This is a very valid point - bumping up the dividend a bit would have been prudent to maintain shareholder interest.   I am still unhappy about kicking the can down the road due to a large tax bill that they obviously should have planned ahead for.  This is a larger holding and I am hanging under the assumption they will finally get it right and be able to have some significant cash

[oilandgasmick]

Agree 100%--it certainly wouldn't have hurt to have brought in a small dividend increase. I hope we do see a rebound but the same analysts who were saying "hold at 31 bucks" are the same ones who are now saying to look for a double from here-- but some of them have the same credibility as posters who have multiple handles and 10,000 likes.Buyer beware.