|Bid||5.99 x 0|
|Ask||6.01 x 0|
|Day's Range||5.81 - 6.02|
|52 Week Range||2.06 - 14.31|
|Beta (5Y Monthly)||3.48|
|PE Ratio (TTM)||25.93|
|Earnings Date||Jul. 23, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Mar. 12, 2020|
|1y Target Est||7.03|
Read on to see why I think that energy stocks Canadian Natural Resources and Cenovus Energy pass the Warren Buffett test in more than one way.The post These 2 Warren Buffett Quotes Apply Perfectly to These 2 Top Energy Stocks appeared first on The Motley Fool Canada.
Cenovus Energy Inc. (TSE:CVE) shareholders will doubtless be very grateful to see the share price up 56% in the last...
TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:Toronto Stock Exchange (15,595.50, down 74.17 points.)The Toronto-Dominion Bank (TSX:TD). Financials. Down 95 cents, or 1.55 per cent, to $60.22 on 13.4 million shares.St. Augustine Gold and Copper (TSX:SAU). Materials. Up eight cents, or 133.33 per cent, to 14 cents on 7.5 million shares.Zenabis Global Inc. (TSX:ZENA). Health care. Unchanged at eight cents on 6.5 million shares.The Bank of Nova Scotia (TSX:BNS). Financials. Down $1.29, or 2.29 per cent, to $54.95 on 5.6 million shares.TC Energy Corp. (TSX:TRP). Energy. Down 60 cents, or 1.04 per cent, to $56.88 on 5.3 million shares.Air Canada (TSX:AC). Industrials. Down 71 cents, or 4.2 per cent, to $16.21 on 5.3 million shares.Companies in the news:Canadian Pacific Railway. (TSX:CP). Up $2.70 to $347.35. Canada's two largest railways moved record quantities of grain in the second quarter after benefiting from another strong month in June. Canadian National Railway says it is on pace for record shipments of grain this crop year after record movements of Canadian grain last month and the quarter as a whole contributed to its best performance in the first half-year. The Montreal-based railway says it has moved 26.9 million tonnes this crop year that ends July 31, up from 26.5 million tonnes at the same point last year. It moved 15 million tonnes from January to June, 8.15 million tones in the second quarter and 2.7 million tonnes in June, its fourth consecutive monthly high. Canadian Pacific Railway says it moved a record 8.41 million tonnes last quarter after shipping 2.76 million tonnes of grain and grain products in June. The Calgary-based railway says it was the best three-month stretch since the 7.9 million tonnes moved in the fourth quarter and best June in six years when 2.4 million tonnes was moved.Cenovus Energy Inc. (TSX:CVE). Down 18 cents, or 2.9 per cent to $6.12. Oilsands companies are restoring thousands of barrels of daily production to take advantage of higher oil prices as relaxed pandemic measures allow North American consumers to get back on the road. Executives speaking at a TD Securities energy conference on Tuesday said they are confident the oil price crisis is subsiding — while expressing dismay at recent setbacks for oil pipelines in the United States. Alex Pourbaix, CEO of Cenovus Energy Inc., said he believes the worst of the situation is over. The Calgary-based company stopped about 60,000 barrels per day of crude production and halted crude-by-rail shipments as prices fell in March and April, but has since restored about half that, Pourbaix reported. Cenovus is also making deals with other producers to add to the amount it is permitted to bring to market under Alberta's oil curtailment measures, he added, thus allowing even more output to be restored. Suncor Energy Inc. CEO Mark Little said he expects a "downstream-led recovery" as consumer demand sparks increased throughput from its Canadian refineries. That consumer-led demand will then translate into more production from its oilsands and other "upstream" assets.Metro Inc. (TSX:MRU). Up eight cents to $56.94. Uber Technologies Inc. is getting into the grocery delivery business and is using some Canadian cities to help it launch the venture. The San Francisco-based tech giant said Tuesday that users in Montreal and Toronto can now order groceries through its Uber and Uber Eats apps. A demonstration of the new service showed thousands of items available from retailers including Walmart, Metro, Rexall, Costco, Longos, Pet Valu and Well.ca. The company's foray into the grocery sector comes after Uber advertised in November 2018 that it was hiring a head of grocery product in Toronto. The company remained secretive about the role, but a year later, Uber's potential interest in a grocery service was a hot topic again when it announced it was acquiring a majority stake in Chilean grocery delivery start-up Cornershop. Uber faces stiff competition with its new service. Amazon.com Inc. and Instacart are already going head-to-head with supermarket brands like Walmart and Loblaw Companies Ltd. Uber believes it can edge out some of the competition because it sees groceries as a natural extension of its booming food delivery service and a way for the company to become a one-stop shop for every meal.This report by The Canadian Press was first published July 7, 2020.The Canadian Press
(Bloomberg) -- At least 20% of shut-in Canadian production is being restored, just months after the price crash forced producers in Alberta’s oil sands to slash up to 1 million barrels a day of output.Cenovus Energy Inc., Husky Energy Inc. and Baytex Energy Corp. are among companies that have resumed shut-in production as prices rise above $40 a barrel. Imperial Oil Ltd., operator of the Kearl oil sands mine and Cold Lake wells, also expects to return to full upstream production after most maintenance is wrapped up in the second quarter, Chief Executive Officer Brad Corson said. ARC Resources Ltd. on Tuesday said it had restored output.“We’re seeing a strong price signal to bring production back,” Cenovus CEO Alex Pourbaix said on a TD Securities conference webcast. “Nobody should be surprised to see our production moving back to full production capacity. We are significantly cash-flow positive at the levels we’re at now.”Long exposed to steep price discounts for crude that must travel thousands of miles amid limited pipeline access, oil-sands companies were quick to slash production when the pandemic obliterated energy demand. Alberta’s oil output fell by almost 25%, according to provincial estimates.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Parex Resources (TSX:PXT), First Quantum (TSX:FM), and Cenovus Energy (TSX:CVE)(NYSE:CVE) are among the top TSX gainers on Thursday. Let’s find out why they’re rising.The post Why These 3 TSX Stocks Rallied on Thursday appeared first on The Motley Fool Canada.
While some top TSX stocks have more than doubled since the crash, some have shown no signs of revival. Do you own these Canadian titans?The post TSX Stocks: 3 Canadian Giants That Have Risen 100% Since the COVID-19 Crash appeared first on The Motley Fool Canada.
TSX stocks: Shopify (TSX:SHOP)(NYSE:SHOP) keeps the throne among top gainers while Bombardier (TSX:BBD.B) tops the chart among losers. The post Canadian Blue Chips: Top Gainer and Loser TSX Stocks of 2020 appeared first on The Motley Fool Canada.
There are plenty of top stocks trading at a discount, but these two stand a solid chance of doubling in the next year or so.The post 2 Top Stocks to Double Your Money appeared first on The Motley Fool Canada.
These two cheap commodity stocks are finally on a roll and could go much higher.The post Momentum Investors: 2 Soaring Stocks That Could Double by 2021 appeared first on The Motley Fool Canada.
Many Canadian oil and gas bigwigs have almost doubled since the COVID-19 crash in March. Do you own these in your portfolio?The post 2 Canadian Giants Doubled Since the COVID-19 Crash -- Should You Buy? appeared first on The Motley Fool Canada.
Cenovus Energy Inc. (TSX:CVE)(NYSE:CVE) and another high-upside stock I'd buy if I were bullish on a V-shaped recovery for the TSX.The post TSX Rally: If You're Betting on a V-Shaped Recovery, Here Are 2 Stocks to Buy Now appeared first on The Motley Fool Canada.
Investors should steer clear of Bombardier, Inc. (TSX:BBD.B) and these two other stocks.The post 3 Stocks You Shouldn't Waste Your $2,000/Month CERB Payment On appeared first on The Motley Fool Canada.
The latest oil production cuts will do little to improve the outlook for the oil sands, making Cenovus Energy Inc. (TSX:CVE)(NYSE:CVE) an oil stock to avoid.The post Will the Latest Oil Production Cuts Save Canada’s Energy Patch? appeared first on The Motley Fool Canada.
Cenovus Energy and Baytex Energy are two value stocks to invest in that will soar higher if and when the oil and gas industry recovers.The post Investing $2,500 in These 2 Stocks Could Make You a Fortune appeared first on The Motley Fool Canada.
Consider Aurora Cannabis Inc. (TSX:ACB)(NYSE:ACB) and another stock if you're a young investor seeking to grow your TFSA wealth at an above-average rate.The post TFSA Wealth: 2 Top Stocks I'd Buy Right Now appeared first on The Motley Fool Canada.
Oil prices started this week with a bang. WTI, the primary U.S. oil price benchmark, had rallied more than 10% by 10:30 a.m. EDT on Monday, to around $32.50 a barrel, while Brent, the global oil price benchmark, jumped more than 7% to nearly $35 a barrel. The surge in crude prices buoyed most oil stocks.
CALGARY — A federal financing relief package for large Canadian companies was applauded by the oil and gas sector and the Alberta government on Monday despite conditions that could link the aid to an individual company's climate change goals.In Edmonton, Alberta Finance Minister Travis Toews welcomed the announcement, saying that the province's large companies, particularly in oil and gas and aviation, need relief quickly."We know that the (financial) need could be great. We've seen some recovery in energy prices, that's very welcome, but these prices that we're seeing today are by no means close to profitable for the industry," said Toews.While the province still needs to see the details of the federal plan, he said he is pleased there is no cap on the bridge financing offer.He added oil and gas companies shouldn't face problems with the requirement to help meet federal climate change commitments.Oilsands producer Cenovus Energy Inc. is pleased that Ottawa recognizes large corporations need help as well as the small and medium-sized ones, said spokeswoman Sonja Franklin."Today's announcement is an important signal for the markets that the government will stand behind viable businesses in this country," she said in an email."The federal government recognizes which sectors contribute most significantly to its revenues and needs to ensure these sectors — like oil and gas — will be there to help it pay off the massive debt it's accumulating as part of the COVID-19 relief."The company is in a strong financial position with access to more than $6 billion in liquidity, she added, but government support is important because there's no way to know when low oil prices will recover.Cenovus has set targets of 30 per cent greenhouse gas emissions intensity reduction and flat overall emissions by 2030, as well as achieving net zero GHG emissions by 2050, and therefore should have no problem meeting federal climate change requirements, she said.The federal program goes a long way to addressing the industry's request for short-term financial liquidity help and will likely be well used as long as there are no issues with accessing the funds, said Tim McMillan, CEO of the Canadian Association of Petroleum Producers."I think this is essential. Not all companies are going to need to tap into this sort of liquidity ... but some that are normally high-quality, stable companies likely will be looking for this program to provide a certain amount of liquidity for them," he said.Environmental and climate change reporting by oil and gas companies is extensive, both voluntary and as required by regulators, he added, which means most companies should be able to meet Ottawa's requirements."This is a non-sector-specific program and when we compare what we've been doing for the last several years compared to other industries in Canada, I think we're probably one or two steps ahead," he said."This would be a requirement that may be a challenge for some industries — I think for our larger oil and gas companies, this is the kind of stuff we've been reporting on for a period of time already."Companies that apply for public support should be willing to say how they will adapt to new rules with regard to climate change, said Greenpeace Canada senior energy strategist Keith Stewart."There have to be some real teeth in how this is implemented, but it makes sense that companies seeking public support agree to limit dividends and executive pay, forgo tax havens and start aligning their business model with Canada's climate change targets," he said."Companies funding campaigns to oppose action on climate change should be excluded from the program."With a file from Dean Bennett in Edmonton.This report by The Canadian Press was first published May 11, 2020.Companies in this story: (TSX:CVE)Dan Healing, The Canadian Press
Cenovus Energy Inc (TSX:CVE)(NYSE:CVE) is one of many stocks this year that's either cut or suspended its dividend payments.The post TFSA Investors: Avoid These Dividend Stocks! appeared first on The Motley Fool Canada.
These TSX energy stocks have what it takes to survive any short-term headwinds and grow substantially as oil prices rise.The post 2 TSX Energy Stocks to Buy As Oil Prices Rise appeared first on The Motley Fool Canada.
Things don't look very good for Baytex Energy (TSX:BTE)(NYSE:BTE), Crescent Point (TSX:CPG)(NYSE:CPG) or Cenovus Energy (TSX:CVE)(NYSE:CVE). The post Will These 3 Top Oil Stocks Survive 2020? appeared first on The Motley Fool Canada.
To keep it simple and limit background noise, we have our president and chief executive officer, Alex Pourbaix; our chief financial officer, Jon McKenzie; our executive vice president, upstream, Norrie Ramsay; and our executive vice president, downstream, Keith Chiasson, on the call to answer your questions. Now, before I get to our quarterly results, I wanted to touch briefly for a second.
CALGARY, Alberta, April 29, 2020 -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced that at its annual meeting of shareholders held on April 29, 2020, each of the 11.