|Bid||10.61 x 0|
|Ask||10.62 x 0|
|Day's Range||10.57 - 10.81|
|52 Week Range||8.74 - 14.84|
|Beta (3Y Monthly)||2.18|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb 14, 2018 - Feb 19, 2018|
|Forward Dividend & Yield||0.20 (1.87%)|
|1y Target Est||14.05|
The Canadian province of Alberta's OPEC-style decision to force production cuts is benefiting oil companies with higher prices, but it is also pushing capital elsewhere and threatens to undermine booming crude-by-rail shipments. After Alberta cut 325,000 barrels per day (bpd) starting this month, the discount on Canadian heavy oil compared to benchmark U.S. crude oil shrank to less than $7 per barrel from more than $40 in October, providing relief for producers. Some producers have already decided to spend more in other provinces.
Canadian Natural Resources Ltd. (TSX:CNQ)(NYSE:CNQ) is one of the top energy stocks that investors should consider adding to their portfolios in 2019.
With Canada’s pipeline bottlenecks weighing on the country’s oil industry, the government took an extreme measure to combat the problem, and it could have some unforeseen consequences
Here's why Canadian Imperial Bank of Commerce (TSX:CM)(NYSE:CM) and another two oversold TSX Index stocks deserve to be on your TFSA radar today.
The discount of Western Canadian Select at Hardisty, Alberta, to West Texas Intermediate futures shrank $1.50 to $9 a barrel Monday, the narrowest since April 2017, data compiled by Bloomberg show. “What I am seeing is substantial increase in rail car loadings,” Tim Pickering, chief investment officer of Auspice Capital Advisors Ltd. in Calgary.“I don’t believe the cuts are too deep.
Cenovus Energy Inc. (TSX:CVE)(NYSE:CVE) and a 170-year-old Canadian bank could attract suitors after the steep sell-off in their stock prices.
Government-mandated production cuts and the potential startup of a key crude pipeline are among key developments to watch for next year. While the announcement of production curtailments by Premier Rachel Notley has succeeded in lifting Canadian crude prices from record lows even before their implementation starts next month, the province’s ability to wind down that policy without crashing the market will be crucial. The government will then work to match production with transportation and storage policy, reviewing the levels every month.
Small-cap and large-cap companies receive a lot of attention from investors, but mid-cap stocks like Cenovus Energy Inc. (TSE:CVE), with a market cap of CA$11b, are often out of the Read More...
After more than a year of tumultuous negotiations that often appeared to be on the brink of falling apart, a revamped NAFTA deal was signed by Canada, the United States and Mexico. While the trade deal was welcome news for the business community, slumping oil prices and a steep discount on the price of Alberta heavy crude has weighed on the economy and led to drastic provincially-imposed production cuts.
The latest bout short-term market volatility has put a whole slew of deeply discounted stocks on sale that I can't wait to buy for my TFSA including BlackBerry Ltd (TSX:BB)(NYSE:BB) and another deep value refining company.
With a dividend yield of almost 4% and strong cash flows, Canadian Natural Resources Ltd. (TSX:CNQ) (NYSE:CNQ) is one of three stocks to buy for long-term wealth building.
The company said it plans to invest between C$1.2 billion ($901.1 million) and C$1.4 billion in 2019, with the majority of the budget going to its Foster Creek and Christina Lake oil sands operations. Cenovus raised its 2019 oil sands production forecast by 3 percent to a range of 377,000 barrels per day (bpd) to 395,000 bpd as it expects increased activity at its Christina Lake operations in Alberta. The company said the production forecast does not include the impact of mandated production curtailments scheduled to take effect on Jan. 1.
Oilsands producers Cenovus Energy Inc. and Athabasca Oil Corp. have announced capital budgets that restrict spending to what's required to almost maintain current production levels in 2019. Cenovus said it will spend between $1.2 billion and $1.4 billion next year, down about four per cent from this year's budget, with a target of a two per cent decline in overall production to between 472,000 and 500,000 barrels of oil equivalent per day in 2019. Smaller Athabasca, meanwhile, plans to spend between $95 million and $110 million in 2019, down from about $190 million this year, and production will slip to a midpoint of about 38,750 boe/d from 40,000 boe/d.
The latest OPEC deal has failed to alleviate many of the risks associated with investing in Cenovus Energy Inc. (TSX:CVE)(NYSE:CVE) and MEG Energy Corp. (TSX:MEG).
On November 30–December 7, Gulfport Energy (GPOR) gained the most on our list of upstream energy stocks. However, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) fell 3.9%—the third–largest decline among the major energy subsector ETFs that we discussed in the previous part.