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Sunday, July 30, 2017 2:53:32 PM
Cenovus Energy (CVE -2.2%) shares are pulling back today from gains of as much as 11% yesterday following a big Q2 earnings beat, much of it sparked by the company's $17.7B acquisition of ConocoPhillips oil sands assets earlier this year.
Raymond James analyst Chris Cox suggests investors look past the headline beat on cash flow, which "relative to our estimates, was driven almost entirely by one-time cash tax recoveries and currency-related gains," adding that there were “no meaningful announcements that lead us to temper our bearish outlook on the stock.”
President and CEO Brian Ferguson says CVE expects to announce sales for its Weyburn and Palliser non-core oil assets before the end of the year for proceeds of $4B-$5B.
AltaCorp Capital's Nicholas Lupick says “all eyes remain on assets sales,” while noting that the company’s financial and operating results were positive.
Recent CVE News
- Form SD - Specialized disclosure report • Edgar (US Regulatory) • 09/24/2024 02:06:18 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/01/2024 05:50:06 PM
- Cenovus announces second quarter 2024 results • GlobeNewswire Inc. • 08/01/2024 10:00:00 AM
- Cenovus to hold second-quarter conference call and webcast on August 1 • GlobeNewswire Inc. • 07/25/2024 08:15:19 PM
- Competition Act amendments silence Canadian businesses taking climate action • GlobeNewswire Inc. • 06/20/2024 11:10:19 PM
- Cenovus reports voting results of annual meeting of shareholders • GlobeNewswire Inc. • 05/01/2024 11:20:48 PM
- Cenovus announces first-quarter 2024 results • GlobeNewswire Inc. • 05/01/2024 10:00:06 AM
- Cenovus to hold first-quarter conference call and webcast, virtual annual meeting of shareholders on May 1 • GlobeNewswire Inc. • 04/24/2024 10:04:31 PM
- Cenovus to webcast Investor Day 2024 • GlobeNewswire Inc. • 02/27/2024 08:00:40 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/15/2024 07:58:59 PM
- Form 40-F - Registration statement [Section 12] or Annual Report [Section 13(a), 15(d)] • Edgar (US Regulatory) • 02/15/2024 07:26:37 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/15/2024 07:22:16 PM
- Cenovus announces fourth-quarter and full-year 2023 results • GlobeNewswire Inc. • 02/15/2024 11:00:45 AM
- Cenovus to hold fourth-quarter, full-year 2023 results conference call and webcast February 15 • GlobeNewswire Inc. • 02/09/2024 03:47:23 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/05/2024 10:03:06 PM
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- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 12/14/2023 03:26:00 PM
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- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 11/07/2023 02:48:41 PM
- Cenovus Energy announces renewal of share buyback program • GlobeNewswire Inc. • 11/07/2023 11:00:41 AM
- Form F-10 - Registration Statement for Securities of certain Canadian Issuers. • Edgar (US Regulatory) • 11/03/2023 09:26:00 PM
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- Cenovus announces 2023 third-quarter results • GlobeNewswire Inc. • 11/02/2023 10:00:06 AM
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