TSX:CVE - Post Discussion
Post by
retiredcf on Jun 01, 2023 7:32am
Nuttall Details
First stock in the clip; he and his family also own it personally. GLTA
https://www.bnnbloomberg.ca/video/eric-nuttall-s-top-picks~2698700
Cenovus Energy (CVE TSX) Cenovus appears to be on the cusp of meaningful improvements in its downstream operations, something that has plagued the company for over a year (the new chief executive officer recently bought $1 million in stock personally while guiding for normalized operations in the coming months). With the company hitting its final debt target in the fourth quarter of this year and pledging to return 100 per cent of free cash flow back to investors thereafter, we believe the company could either pay a dividend (or buy back the equivalent) of 16-24 per cent at US$80/$100WTI. We believe fair value is 6X EV/CF = 74-130 per cent upside at US$80/$100WTI. TOP PICK
Cenovus Energy(CVE-T)
31/05/2023
Underperformed on issues with US refinery, indicates on track to get back online. New CEO bought $1M worth of stock. 30 years of inventory in heavy oil. Huge leverage to oil price. Once debt reaches a certain level, investors will reap all the free cashflow. Its 6x multiple is fair value. Yield is 2.57%.
(Analysts’ price target is $29.78)
Oil / Gas
Eric Nuttall
$21.680
Owned
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