Cenovus Energy: No Hedging Makes It A Leveraged Play On The Oil Price Recovery [Seeking Alpha]
Cenovus Energy Inc (CVE)
Last cenovus energy inc earnings: 4/29 06:00 am
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US:NYSE Investor Relations:
cenovus.com/disclaimerir
Company Research
Source: Seeking Alpha
SummaryCenovus is trading at a distressed valuation (25% of BV) based on the collapse in oil prices, with Canadian producers especially hard-hit since WCS trades at steep discount to WTI.Despite this, the company is a low-cost operator with a manageable debt load, ample liquidity and a robust balance sheet. Marginal cost of production is just $6.90 per barrel.Cenovus' "no-hedging" policy will sting sharply in 2020 but makes it an attractive buy for investors who want direct upside exposure to the medium term rebalancing of oil markets.The recent approval of KeystoneXL is a bullish development and should help reduce the WCS discount to WTI.Consultancy Energy Aspects forecasts the spread to narrow from $12 in 2020 to$4 in 2021.Bloomberg shows a top target price of C$7.0, 70% higher than Cenovus' current price. Bloomberg’s 1-year default probability is 2.6%.The Oil Price Collapse Separates the Wheat from the ChaffThe price collapse caused by the Covid-19 pandemic and the disintegration o
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CVE
News
- Canadian Association of Petroleum Producers Announces Leadership Appointments to Board of Directors [Yahoo! Finance]Yahoo! Finance
- Cenovus Energy Inc. (NYSE: CVE) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- Is Cenovus Stock a Buy, Sell, or Hold for 2025? [Yahoo! Finance Canada]Yahoo! Finance Canada
- TIDEWATER MIDSTREAM AND INFRASTRUCTURE LTD. ANNOUNCES THIRD QUARTER 2024 RESULTS AND OPERATIONAL UPDATE [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- TIDEWATER MIDSTREAM AND INFRASTRUCTURE LTD. ANNOUNCES THIRD QUARTER 2024 RESULTS AND OPERATIONAL UPDATE [Yahoo! Finance]Yahoo! Finance
CVE
Earnings
- 10/31/24 - Beat
CVE
Sec Filings
- 11/12/24 - Form SC
- 11/7/24 - Form 6-K
- 10/31/24 - Form 6-K
- CVE's page on the SEC website