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Stocks in play: Cenovus Energy Inc.

Baystreet.ca
·1 min read

Is reducing its 2020 capital spending by approximately 32% in order to maintain the strength of its balance sheet. Cenovus is also temporarily suspending its crude-by-rail program and deferring final investment decisions on major growth projects. These measures are being taken in response to the recent significant decline in world benchmark crude oil prices. The company continues to work toward funding its revised capital program and current dividend within cash flow in this challenging commodity price environment. Cenovus Energy Inc. shares T.CVE are trading up $0.84 at $4.66.

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