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Cenovus Energy Inc. (CVE)
NYSE - NYSE Delayed Price. Currency in USD
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At close: 04:00PM EST
3,553 reactions on $CVE conversation
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Cenovus is selling Husky retail units and wembley assets for $660 millions.
Unless oil tanks (again!), CVE will hit their 8 billion debt target after Q1 2022. Selling Husky and other assets (read on Yahoo) for 660 million.
I don't get it. Why did CVE buy Husky earlier in the year to only now sell it? It took on a massive amount of debt and now selling it? What am I missing?
Smart investor would have at least 50% of portfolio Investing in Oil more especially in CVE which would never disappoint you.
It goes up slow but solid, you can have it in your portfolio and just let it sit and watch it grow .
Oil is the solid past and future.
Look around, anything you see has brought in town by oil, not electric or wind power transportation or hugging trees.
I would drink it if I could.
Why is AP selling non-core assets? I understand that the price is good and I am not suggesting that it is a bad thing. However, debt is being organically paid down. As we know, at least 1B/q and we at already at 10B with a longer term debt target at 8B. I still have a suspicion that AP has some sort of acquisition in mind or larger scale capital development. Thoughts?
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Based on the today’s gas price it seems like toMorrow will be big Red day with 5-10% down.
Is tomorrow good time to buy, I can hold for 3 months let me know as I am thinking to buy around 1000-3000 shares at 14 or 14.25 or it’s better to wait as there is a potential to even go down more tomorrow or in coming days.
Share your opinion thank you
If CVE sold all of their upstream assets at the same price they just sold the Wembley assets (75k/flowing barrel) they would be getting $56B and still have 4 refineries
Looks like Conoco Phillips were selling shares each day (500K). on May 27, they had 201 million shares as per cedi. Now on Yahoo, they are showing 140 million holding as of Sep.29th. Means in 4 months, they sold another 40 million shares.
expect CVE to hit US$30 before summer next year as the several key catalysts driven events unfold....
Hold, don't sell. Still massively undervalued in the oil bull market. Can't wait for investor day! It might go over 17 after investor day.
A big day for Alex P-CEO to put the $10B buyback money to work and buy CVE shares in the market on this big pullback!!!! AP buying CVE shares today into next week....
Hey AP, next qtr, announce another 10% buy back. Leave the div where it is and pay down a little more debt while buying back another 10% of shares.
Why oil price down?
Releasing 50 million barrels of strategic oil reserves is roughly 12 hours of global oil consumption. Back to bed sleepy Joe.
what do u think AP will do on CVE investor day dec 8 based on today's price action???? AP gonna push share buyback aggressively, non-core asset sales timeline aggressively and outlook timeline on another divvy increase....expect no new project outside of Husky asset optimization-squeezing out alot more synergies!!! CVE a much better BUY vs CNQ, SU, IMO
LEO THE LION
Hep hep! Doubled down my original 1,500 shares and I now officially have 3,000 shares! Good luck fellow longs!
In the Globe and Mail today, article by Eric Nuttall.
Many small- to mid-cap names are already up well over 100% this year. There is still multi-bagger potential in them, but having a large-cap component is more of a tactical positioning heading into year end. The large, generalist investors, who missed out on a huge run so far this year, must at least catch up to their benchmark. It’s much easier for them to go for the safety of a large-cap name that hasn’t performed as well. Of the large caps, I like Cenovus the best. The near-term catalyst for this energy producer, which acquired Husky Energy this year, is hitting its $10-billion deleveraging target and buying back shares.
Low volume and it continues to go up. If volume picks up this will clear $13 again quick.
Now up to 13K shares on this dip. If oil holds at these levels then CVE will see a new high over the next couple of weeks.
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