�U�4��P*1t2H�f���4� ��@������Q�آ�dq�2BC�fc������Jt4`�P�����284��U���L_�g1i��4�6�p`y�n��Q8wCa����,���Zy8D^�}aN���,l�@�b`��3XdA�; I�j. This is your chance to get in early on what could prove to be very special investment advice. Why Has Walgreens Boots Alliance, Inc. (NASDAQ:WBA) Declined So Much? "It is unique for the assets of two companies to complement each other this well," he said on a conference call on Sunday. All rights reserved. 0000001272 00000 n Current shares outstanding are 1.23 Billion. The combined company's board of directors is to be made up of eight Cenovus appointees and four from Husky. endstream endobj 163 0 obj <>stream Forget Suncor Energy (TSX:SU): These Stocks Can Give You $4,500 Annually, How to Profit From the Market Crash: 2 Stocks to Trade in Short Term. The combined company will be better able to weather energy market volatility while generating more cash flow, reducing debt and cutting overall costs, said Cenovus CEO Alex Pourbaix, who will head the merged entity. In the period prior to that, the margin was 3.7%. Should You Buy Aphria (TSX:APHA) After Its Recent Pullback? As of the end of 2019, Cenovus had $186 million in cash on its books. https://produceredition.webcasts.com/starthere.jsp?ei=1377045&tp_key=6af03e85b8, Start Here! That being said, Cenovus stock is still down 60% thus far in 2020. "When you combine two companies with similar geographies and somewhat similar operations, you're always going to have some overlap ... in this case, there would probably be relatively a little more weight on the head office functions, just because we aren't quite as overlapping in the field," he said. The company also has 50% ownership in two U.S. refineries. We could see the company’s bottom line go back into the red. Looking at the stock we see that its previous close was $4 and the beta (5Y monthly) reads 0 with the day's price range being... Zynga Inc. (NASDAQ:ZNGA) traded at $9.4 at last check on Monday, Oct 26, making a downturn move of -0.42% on its previous day's price. They've also agreed to a standstill agreement under which they are subject to certain voting requirements and transfer restrictions for a maximum of five years. This setting should only be used on your home or work computer. The conference call webcast link will be available at cenovus.com or via the following URL: https://produceredition.webcasts.com/starthere.jsp?ei=1377045&tp_key=6af03e85b8. Cenovus Energy Inc. will release its third-quarter results on Thursday, October 29, 2020. The news release will provide consolidated third-quarter operating and financial information. 0000012171 00000 n At Cenovus, we recognize operating in an ethical and environmentally, ... (IEA) World Economic Outlook (WEO) New Policies Scenario, where nations make efforts toward their climate targets while global oil demand continues to grow out to 2040 (see Figure 1). Looking at the stock we see that its previous close was $9.44 and the beta (5Y monthly) reads 0.25 with the day's price range being $9.36... Synchrony Financial (NYSE:SYF) traded at $26.7 at last check on Monday, Oct 26, making a downturn move of -3.78% on its previous day's price. And as long as more declines don’t take place in the price of oil, there’s hope that shares of Cenovus will at least remain stable. Current as of October 27, 2020. Conditions in the oil and gas industry may improve but it may not be until the economy goes back to normal, which is not happening anytime soon. Combining the companies will create annual savings of $1.2 billion, largely achieved within the first year and independent of commodity prices, the companies said. 0000001236 00000 n Husky is controlled by Hong Kong billionaire Li Ka-Shing through Hutchison Whampoa Europe Investments SARL, with 40.1 per cent, and L.F. Investments SARL, which holds 29.32 per cent of the company's common shares. That stability’s allowed Cenovus and other oil and gas stocks to recover. We’ve Got You Covered with These 3 Free Stock Picks. H�\��n�0��)M[)��Ѥ� �R��E�~|8� �q�=���M�ݽ��n6��ih�~6Ǯo'�S�����>J3�vͼΖ��\�Q�����ϻ�8Dei�_��e�n�a���?��O]2���G����Ͼ�Mb�ʴ��������M��=���oO����6z�-�0����X7~�����$\�)��UE�o�{.���O=Ee� ��Dd��*|���w����[���s�ϒe�������e 'C}F�0M�0DeN�>yJ�Bg��R+�z�B��e�E�ͩshKm���jd�����b��2�E�,Y,�Xd�ܗ0D�c�,�������G�#��}>"�{�f.A.a.A.a��= Are Investors Keen On Selling Holdings In Dynatrace, Inc. (NYSE:DT)? That's bad news for Calgary office workers as about $400 million of the savings are expected to come from "workforce optimization," along with savings from IT and procurement, said Pourbaix, though he did not explicitly say there would be job losses. The news release will provide consolidated third-quarter operating and financial information. In the past month, shares of Cenovus have been rallying and are up more than 60% from the lows that reached in March. David Jagielski | April 28, 2020 | More on: CVE CVE. Cenovus Energy Inc (TSX:CVE)(NYSE:CVE) shares are down more than 60% already in 2020. 153 0 obj <> endobj To participate, please dial 888-231-8191 (toll-free in North America) or 647-427-7450 approximately 10 minutes prior to the conference call. xref Cenovus Energy Inc. Cenovus Energy Inc. is a Canadian integrated oil and natural gas company. Cenovus continues to work on its plan for achieving its ESG targets over the next decade. Click on the link below for our stock recommendations that we believe could battle Netflix for entertainment dominance. Not to alarm you, but you’re about to miss an important event. <]/Prev 270134>> THE CANADIAN PRESS/Jeff McIntosh, Unionized health care support workers stage wildcat strike, Saskatchewan election day: Voters go to the polls after four-week pandemic campaign, Top doctor warns severe illness likely to rise, trailing spike in COVID-19 cases. %%EOF In September, it said it was reviewing the project while asking for direct investment from the federal government and the province of Newfoundland and Labrador. Although Cenovus has recorded a profit in four straight quarters, in its most recent quarter it recorded a profit margin of just 2.2%. 0000002365 00000 n 172 0 obj <>stream I consent to receiving information from The Motley Fool via email, direct mail, and occasional special offer phone calls. 0000000016 00000 n For more information, visit cenovus.com . 0000017908 00000 n Currently, Cenovus is trading at just two times its earnings and at a minuscule price-to-book multiple of around 0.2. The all-stock transaction was cast as a … Top Moving Stock Now – salesforce.com, inc. (NYSE:CRM), MGM Resorts International (NYSE:MGM) – Analysts’ Revisions Show Sentiment Is Improving, Analysts Say You Should Hold Your Position in AT&T Inc. (NYSE:T), Investors Take Advantage of -3.83% Loss In The Boeing Company (NYSE:BA). The speculative grade liquidity rating remains SGL-1. H�|W�n���W�Q. A surprise move by Cenovus Energy Inc. to buy rival Husky Energy Inc. for $3.8 billion in shares will create the third-largest Canadian oil and natural gas producer by total production, the companies announced Sunday. A conference call and webcast to discuss the results will be held for the investment community at 9 a.m. MT (11 a.m. Looking for the Next Potential Netflix? To participate, please dial 888-231-8191 or …. %PDF-1.5 %���� Conference Call Today 9 a.m. Mountain Time (11 a.m. Eastern Time) Cenovus will host a conference call today, July 23, 2020, starting at 9 a.m. MT (11 a.m. ET). The combined company's board of directors is to be made up of eight Cenovus appointees and four from Husky. He added about $200 million in savings will come from sharing technical expertise and the other $600 million through better use of capital by focusing on assets with higher return potential. Click Here to Get Your Free Report Today! 0000002214 00000 n Shares of Canada’s oil giant Cenovus Energy are trading at $4.85, which is 65% below its 52-week high. Coincidentally, that is also how much profit it posted. The company's average rating score is 2.36, and is based on 7 buy ratings, 5 hold ratings, and 2 sell ratings. 0000017794 00000 n Husky shareholders will receive 0.7845 of a Cenovus share plus 0.0651 of a Cenovus share purchase warrant in exchange for each Husky common share. The merged company is expected to break-even on a free funds flow basis at West Texas Intermediate pricing of US$36 per barrel in 2021, and at less than WTI US$33 per barrel by 2023. Those are dirt-cheap metrics and they could make the stock an appealing buy for bargain hunters who aren’t afraid to take on some risk. We may never see oil hit US$100/barrel again but that doesn’t mean that prices will continue falling, either. 3 Beaten-Down Stocks Look Attractive, Aphria (TSX:APHA) Stock Plunges: Marijuana Industry in Trouble. VEREIT, Inc. (NYSE:VER) traded at $6.61 at last check on Monday, Oct 26, making a downturn move of -2.07% on its previous day's price. As crude oil prices have crashed, they’ve taken oil and gas stocks along with them. Companies in this story: (TSX:CVE, TSX:HSE), Sign in or register for your free account, The combined company will be better able to weather energy market volatility, Cenovus CEO Alex Pourbaix speaks at a news conference in Calgary on January 30, 2020. Toronto, October 21, 2019 -- Moody's Investors Service (Moody's) changed Cenovus Energy Inc.'s (Cenovus) outlook to positive from stable. While there’s no denying that Cenovus stock is cheap, that’s not a reason to buy it. Peabody said on the call that Husky has decided to cancel spending in 2021 on its partly completed $2.2-billion West White Rose offshore oil project. Free Reports for New Investors, 2020 Gold Price Forecast & Gold Stocks to Watch, Precious Metals Outlook 2020: CEO’s, Analysts on Gold, Silver and Platinum, 2020 Gold Price Forecast and Gold Stocks to Watch, Emerging Tech: Advances in AI, Virtual Reality and Mobile, Outlook and Opportunities in the Gaming Industry, Cleantech Market Trends and Cleantech Stocks to Buy, Tech Shaping the Future: XFuture Conference Report 2019, Investing in Esports: Stocks, Trends and Rising Demand, Start Here - Investing in Artificial Intelligence, Coronavirus Investing: An Overview for Investors, Life Science and Healthcare Investing in 2020, Pharmaceutical Investing Principles And Pharmaceutical Stocks To Buy, Biotech Investing - Top Stocks, ETFs and Future Prospects. Operations include oil sands projects in northern Alberta, which use specialized methods to drill and pump the oil to the surface, and established natural gas and oil production in Alberta and British Columbia. endstream endobj 154 0 obj <>>> endobj 155 0 obj <> endobj 156 0 obj <>/ExtGState<>/Font<>/ProcSet[/PDF/Text]/Properties<>/XObject<>>>/Rotate 0/TrimBox[0.0 0.0 612.0 792.0]/Type/Page>> endobj 157 0 obj <> endobj 158 0 obj [/ICCBased 164 0 R] endobj 159 0 obj <> endobj 160 0 obj <> endobj 161 0 obj <> endobj 162 0 obj <>stream To say that oil and gas stocks have been hit hard this year would be putting it lightly. Husky also has an upgrader and asphalt refinery near Lloydminster on the Alberta-Saskatchewan border — which could be used to process Cenovus bitumen in future — and is repairing a refinery in Wisconsin after a fire in 2018. ", Husky CEO Rob Peabody added it's the "start of a new chapter.". I understand I can unsubscribe from these updates at any time. In the meantime, companies like Cenovus have to do what they can to keep their heads above water. Home Office Coronavirus, Dogma Dvd, Magnolia Lyrics Deemo, Boil Water Notice Coral Springs, Obedear Purity Ring Lyrics, Unbreak My Heart Karaoke, Part Time Warehouse Jobs, Singing Dentist Despacito, The Crime Of Father Amaro Full Movie 123movies, How Many Kids Does Elon Musk Have, Ecommerce Website, Phoenix Tv Channels, Superman/batman: Apocalypse Cast, Maharashtra Post Office Recruitment 2020 Apply Online, " /> �U�4��P*1t2H�f���4� ��@������Q�آ�dq�2BC�fc������Jt4`�P�����284��U���L_�g1i��4�6�p`y�n��Q8wCa����,���Zy8D^�}aN���,l�@�b`��3XdA�; I�j. This is your chance to get in early on what could prove to be very special investment advice. Why Has Walgreens Boots Alliance, Inc. (NASDAQ:WBA) Declined So Much? "It is unique for the assets of two companies to complement each other this well," he said on a conference call on Sunday. All rights reserved. 0000001272 00000 n Current shares outstanding are 1.23 Billion. The combined company's board of directors is to be made up of eight Cenovus appointees and four from Husky. endstream endobj 163 0 obj <>stream Forget Suncor Energy (TSX:SU): These Stocks Can Give You $4,500 Annually, How to Profit From the Market Crash: 2 Stocks to Trade in Short Term. The combined company will be better able to weather energy market volatility while generating more cash flow, reducing debt and cutting overall costs, said Cenovus CEO Alex Pourbaix, who will head the merged entity. In the period prior to that, the margin was 3.7%. Should You Buy Aphria (TSX:APHA) After Its Recent Pullback? As of the end of 2019, Cenovus had $186 million in cash on its books. https://produceredition.webcasts.com/starthere.jsp?ei=1377045&tp_key=6af03e85b8, Start Here! That being said, Cenovus stock is still down 60% thus far in 2020. "When you combine two companies with similar geographies and somewhat similar operations, you're always going to have some overlap ... in this case, there would probably be relatively a little more weight on the head office functions, just because we aren't quite as overlapping in the field," he said. The company also has 50% ownership in two U.S. refineries. We could see the company’s bottom line go back into the red. Looking at the stock we see that its previous close was $4 and the beta (5Y monthly) reads 0 with the day's price range being... Zynga Inc. (NASDAQ:ZNGA) traded at $9.4 at last check on Monday, Oct 26, making a downturn move of -0.42% on its previous day's price. They've also agreed to a standstill agreement under which they are subject to certain voting requirements and transfer restrictions for a maximum of five years. This setting should only be used on your home or work computer. The conference call webcast link will be available at cenovus.com or via the following URL: https://produceredition.webcasts.com/starthere.jsp?ei=1377045&tp_key=6af03e85b8. Cenovus Energy Inc. will release its third-quarter results on Thursday, October 29, 2020. The news release will provide consolidated third-quarter operating and financial information. 0000012171 00000 n At Cenovus, we recognize operating in an ethical and environmentally, ... (IEA) World Economic Outlook (WEO) New Policies Scenario, where nations make efforts toward their climate targets while global oil demand continues to grow out to 2040 (see Figure 1). Looking at the stock we see that its previous close was $9.44 and the beta (5Y monthly) reads 0.25 with the day's price range being $9.36... Synchrony Financial (NYSE:SYF) traded at $26.7 at last check on Monday, Oct 26, making a downturn move of -3.78% on its previous day's price. And as long as more declines don’t take place in the price of oil, there’s hope that shares of Cenovus will at least remain stable. Current as of October 27, 2020. Conditions in the oil and gas industry may improve but it may not be until the economy goes back to normal, which is not happening anytime soon. Combining the companies will create annual savings of $1.2 billion, largely achieved within the first year and independent of commodity prices, the companies said. 0000001236 00000 n Husky is controlled by Hong Kong billionaire Li Ka-Shing through Hutchison Whampoa Europe Investments SARL, with 40.1 per cent, and L.F. Investments SARL, which holds 29.32 per cent of the company's common shares. That stability’s allowed Cenovus and other oil and gas stocks to recover. We’ve Got You Covered with These 3 Free Stock Picks. H�\��n�0��)M[)��Ѥ� �R��E�~|8� �q�=���M�ݽ��n6��ih�~6Ǯo'�S�����>J3�vͼΖ��\�Q�����ϻ�8Dei�_��e�n�a���?��O]2���G����Ͼ�Mb�ʴ��������M��=���oO����6z�-�0����X7~�����$\�)��UE�o�{.���O=Ee� ��Dd��*|���w����[���s�ϒe�������e 'C}F�0M�0DeN�>yJ�Bg��R+�z�B��e�E�ͩshKm���jd�����b��2�E�,Y,�Xd�ܗ0D�c�,�������G�#��}>"�{�f.A.a.A.a��= Are Investors Keen On Selling Holdings In Dynatrace, Inc. (NYSE:DT)? That's bad news for Calgary office workers as about $400 million of the savings are expected to come from "workforce optimization," along with savings from IT and procurement, said Pourbaix, though he did not explicitly say there would be job losses. The news release will provide consolidated third-quarter operating and financial information. In the past month, shares of Cenovus have been rallying and are up more than 60% from the lows that reached in March. David Jagielski | April 28, 2020 | More on: CVE CVE. Cenovus Energy Inc (TSX:CVE)(NYSE:CVE) shares are down more than 60% already in 2020. 153 0 obj <> endobj To participate, please dial 888-231-8191 (toll-free in North America) or 647-427-7450 approximately 10 minutes prior to the conference call. xref Cenovus Energy Inc. Cenovus Energy Inc. is a Canadian integrated oil and natural gas company. Cenovus continues to work on its plan for achieving its ESG targets over the next decade. Click on the link below for our stock recommendations that we believe could battle Netflix for entertainment dominance. Not to alarm you, but you’re about to miss an important event. <]/Prev 270134>> THE CANADIAN PRESS/Jeff McIntosh, Unionized health care support workers stage wildcat strike, Saskatchewan election day: Voters go to the polls after four-week pandemic campaign, Top doctor warns severe illness likely to rise, trailing spike in COVID-19 cases. %%EOF In September, it said it was reviewing the project while asking for direct investment from the federal government and the province of Newfoundland and Labrador. Although Cenovus has recorded a profit in four straight quarters, in its most recent quarter it recorded a profit margin of just 2.2%. 0000002365 00000 n 172 0 obj <>stream I consent to receiving information from The Motley Fool via email, direct mail, and occasional special offer phone calls. 0000000016 00000 n For more information, visit cenovus.com . 0000017908 00000 n Currently, Cenovus is trading at just two times its earnings and at a minuscule price-to-book multiple of around 0.2. The all-stock transaction was cast as a … Top Moving Stock Now – salesforce.com, inc. (NYSE:CRM), MGM Resorts International (NYSE:MGM) – Analysts’ Revisions Show Sentiment Is Improving, Analysts Say You Should Hold Your Position in AT&T Inc. (NYSE:T), Investors Take Advantage of -3.83% Loss In The Boeing Company (NYSE:BA). The speculative grade liquidity rating remains SGL-1. H�|W�n���W�Q. A surprise move by Cenovus Energy Inc. to buy rival Husky Energy Inc. for $3.8 billion in shares will create the third-largest Canadian oil and natural gas producer by total production, the companies announced Sunday. A conference call and webcast to discuss the results will be held for the investment community at 9 a.m. MT (11 a.m. Looking for the Next Potential Netflix? To participate, please dial 888-231-8191 or …. %PDF-1.5 %���� Conference Call Today 9 a.m. Mountain Time (11 a.m. Eastern Time) Cenovus will host a conference call today, July 23, 2020, starting at 9 a.m. MT (11 a.m. ET). The combined company's board of directors is to be made up of eight Cenovus appointees and four from Husky. He added about $200 million in savings will come from sharing technical expertise and the other $600 million through better use of capital by focusing on assets with higher return potential. Click Here to Get Your Free Report Today! 0000002214 00000 n Shares of Canada’s oil giant Cenovus Energy are trading at $4.85, which is 65% below its 52-week high. Coincidentally, that is also how much profit it posted. The company's average rating score is 2.36, and is based on 7 buy ratings, 5 hold ratings, and 2 sell ratings. 0000017794 00000 n Husky shareholders will receive 0.7845 of a Cenovus share plus 0.0651 of a Cenovus share purchase warrant in exchange for each Husky common share. The merged company is expected to break-even on a free funds flow basis at West Texas Intermediate pricing of US$36 per barrel in 2021, and at less than WTI US$33 per barrel by 2023. Those are dirt-cheap metrics and they could make the stock an appealing buy for bargain hunters who aren’t afraid to take on some risk. We may never see oil hit US$100/barrel again but that doesn’t mean that prices will continue falling, either. 3 Beaten-Down Stocks Look Attractive, Aphria (TSX:APHA) Stock Plunges: Marijuana Industry in Trouble. VEREIT, Inc. (NYSE:VER) traded at $6.61 at last check on Monday, Oct 26, making a downturn move of -2.07% on its previous day's price. As crude oil prices have crashed, they’ve taken oil and gas stocks along with them. Companies in this story: (TSX:CVE, TSX:HSE), Sign in or register for your free account, The combined company will be better able to weather energy market volatility, Cenovus CEO Alex Pourbaix speaks at a news conference in Calgary on January 30, 2020. Toronto, October 21, 2019 -- Moody's Investors Service (Moody's) changed Cenovus Energy Inc.'s (Cenovus) outlook to positive from stable. While there’s no denying that Cenovus stock is cheap, that’s not a reason to buy it. Peabody said on the call that Husky has decided to cancel spending in 2021 on its partly completed $2.2-billion West White Rose offshore oil project. Free Reports for New Investors, 2020 Gold Price Forecast & Gold Stocks to Watch, Precious Metals Outlook 2020: CEO’s, Analysts on Gold, Silver and Platinum, 2020 Gold Price Forecast and Gold Stocks to Watch, Emerging Tech: Advances in AI, Virtual Reality and Mobile, Outlook and Opportunities in the Gaming Industry, Cleantech Market Trends and Cleantech Stocks to Buy, Tech Shaping the Future: XFuture Conference Report 2019, Investing in Esports: Stocks, Trends and Rising Demand, Start Here - Investing in Artificial Intelligence, Coronavirus Investing: An Overview for Investors, Life Science and Healthcare Investing in 2020, Pharmaceutical Investing Principles And Pharmaceutical Stocks To Buy, Biotech Investing - Top Stocks, ETFs and Future Prospects. Operations include oil sands projects in northern Alberta, which use specialized methods to drill and pump the oil to the surface, and established natural gas and oil production in Alberta and British Columbia. endstream endobj 154 0 obj <>>> endobj 155 0 obj <> endobj 156 0 obj <>/ExtGState<>/Font<>/ProcSet[/PDF/Text]/Properties<>/XObject<>>>/Rotate 0/TrimBox[0.0 0.0 612.0 792.0]/Type/Page>> endobj 157 0 obj <> endobj 158 0 obj [/ICCBased 164 0 R] endobj 159 0 obj <> endobj 160 0 obj <> endobj 161 0 obj <> endobj 162 0 obj <>stream To say that oil and gas stocks have been hit hard this year would be putting it lightly. Husky also has an upgrader and asphalt refinery near Lloydminster on the Alberta-Saskatchewan border — which could be used to process Cenovus bitumen in future — and is repairing a refinery in Wisconsin after a fire in 2018. ", Husky CEO Rob Peabody added it's the "start of a new chapter.". I understand I can unsubscribe from these updates at any time. In the meantime, companies like Cenovus have to do what they can to keep their heads above water. Home Office Coronavirus, Dogma Dvd, Magnolia Lyrics Deemo, Boil Water Notice Coral Springs, Obedear Purity Ring Lyrics, Unbreak My Heart Karaoke, Part Time Warehouse Jobs, Singing Dentist Despacito, The Crime Of Father Amaro Full Movie 123movies, How Many Kids Does Elon Musk Have, Ecommerce Website, Phoenix Tv Channels, Superman/batman: Apocalypse Cast, Maharashtra Post Office Recruitment 2020 Apply Online, " />

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cenovus future outlook

Why buying the Banco Bradesco S.A. (NYSE:BBD) Stock Today Might Make Sense. Fitch Ratings - Chicago - 26 Oct 2020: Fitch Ratings has affirmed Cenovus Energy Inc.'s (CVE) ratings at 'BB+' and revised the Rating Outlook to Positive from Negative following its plan to combine with Husky Energy Inc. (HSE) in an all stock deal valued at … Iain Butler and the Stock Advisor Canada team only publish their new “buy alerts” twice a month, and only to an exclusively small group. Investors are better off looking for more stable investments, especially as the markets continue to be very volatile. "Over the past several months as we worked together on this transaction, from a value and strategic perspective, the merits and overall fit have become abundantly clear," he said on the call. h�b```b``�``c`\� Ȁ ��@Q�����\6J��6]Z`������8�����jƝ� Q��r+1tbnIg�Ñ��0��vΒ���9S����M9*Q0�S(R,�[2Q$��T.����2�HM�Â�D# �dT/�>�U�4��P*1t2H�f���4� ��@������Q�آ�dq�2BC�fc������Jt4`�P�����284��U���L_�g1i��4�6�p`y�n��Q8wCa����,���Zy8D^�}aN���,l�@�b`��3XdA�; I�j. This is your chance to get in early on what could prove to be very special investment advice. Why Has Walgreens Boots Alliance, Inc. (NASDAQ:WBA) Declined So Much? "It is unique for the assets of two companies to complement each other this well," he said on a conference call on Sunday. All rights reserved. 0000001272 00000 n Current shares outstanding are 1.23 Billion. The combined company's board of directors is to be made up of eight Cenovus appointees and four from Husky. endstream endobj 163 0 obj <>stream Forget Suncor Energy (TSX:SU): These Stocks Can Give You $4,500 Annually, How to Profit From the Market Crash: 2 Stocks to Trade in Short Term. The combined company will be better able to weather energy market volatility while generating more cash flow, reducing debt and cutting overall costs, said Cenovus CEO Alex Pourbaix, who will head the merged entity. In the period prior to that, the margin was 3.7%. Should You Buy Aphria (TSX:APHA) After Its Recent Pullback? As of the end of 2019, Cenovus had $186 million in cash on its books. https://produceredition.webcasts.com/starthere.jsp?ei=1377045&tp_key=6af03e85b8, Start Here! That being said, Cenovus stock is still down 60% thus far in 2020. "When you combine two companies with similar geographies and somewhat similar operations, you're always going to have some overlap ... in this case, there would probably be relatively a little more weight on the head office functions, just because we aren't quite as overlapping in the field," he said. The company also has 50% ownership in two U.S. refineries. We could see the company’s bottom line go back into the red. Looking at the stock we see that its previous close was $4 and the beta (5Y monthly) reads 0 with the day's price range being... Zynga Inc. (NASDAQ:ZNGA) traded at $9.4 at last check on Monday, Oct 26, making a downturn move of -0.42% on its previous day's price. They've also agreed to a standstill agreement under which they are subject to certain voting requirements and transfer restrictions for a maximum of five years. This setting should only be used on your home or work computer. The conference call webcast link will be available at cenovus.com or via the following URL: https://produceredition.webcasts.com/starthere.jsp?ei=1377045&tp_key=6af03e85b8. Cenovus Energy Inc. will release its third-quarter results on Thursday, October 29, 2020. The news release will provide consolidated third-quarter operating and financial information. 0000012171 00000 n At Cenovus, we recognize operating in an ethical and environmentally, ... (IEA) World Economic Outlook (WEO) New Policies Scenario, where nations make efforts toward their climate targets while global oil demand continues to grow out to 2040 (see Figure 1). Looking at the stock we see that its previous close was $9.44 and the beta (5Y monthly) reads 0.25 with the day's price range being $9.36... Synchrony Financial (NYSE:SYF) traded at $26.7 at last check on Monday, Oct 26, making a downturn move of -3.78% on its previous day's price. And as long as more declines don’t take place in the price of oil, there’s hope that shares of Cenovus will at least remain stable. Current as of October 27, 2020. Conditions in the oil and gas industry may improve but it may not be until the economy goes back to normal, which is not happening anytime soon. Combining the companies will create annual savings of $1.2 billion, largely achieved within the first year and independent of commodity prices, the companies said. 0000001236 00000 n Husky is controlled by Hong Kong billionaire Li Ka-Shing through Hutchison Whampoa Europe Investments SARL, with 40.1 per cent, and L.F. Investments SARL, which holds 29.32 per cent of the company's common shares. That stability’s allowed Cenovus and other oil and gas stocks to recover. We’ve Got You Covered with These 3 Free Stock Picks. H�\��n�0��)M[)��Ѥ� �R��E�~|8� �q�=���M�ݽ��n6��ih�~6Ǯo'�S�����>J3�vͼΖ��\�Q�����ϻ�8Dei�_��e�n�a���?��O]2���G����Ͼ�Mb�ʴ��������M��=���oO����6z�-�0����X7~�����$\�)��UE�o�{.���O=Ee� ��Dd��*|���w����[���s�ϒe�������e 'C}F�0M�0DeN�>yJ�Bg��R+�z�B��e�E�ͩshKm���jd�����b��2�E�,Y,�Xd�ܗ0D�c�,�������G�#��}>"�{�f.A.a.A.a��= Are Investors Keen On Selling Holdings In Dynatrace, Inc. (NYSE:DT)? That's bad news for Calgary office workers as about $400 million of the savings are expected to come from "workforce optimization," along with savings from IT and procurement, said Pourbaix, though he did not explicitly say there would be job losses. The news release will provide consolidated third-quarter operating and financial information. In the past month, shares of Cenovus have been rallying and are up more than 60% from the lows that reached in March. David Jagielski | April 28, 2020 | More on: CVE CVE. Cenovus Energy Inc (TSX:CVE)(NYSE:CVE) shares are down more than 60% already in 2020. 153 0 obj <> endobj To participate, please dial 888-231-8191 (toll-free in North America) or 647-427-7450 approximately 10 minutes prior to the conference call. xref Cenovus Energy Inc. Cenovus Energy Inc. is a Canadian integrated oil and natural gas company. Cenovus continues to work on its plan for achieving its ESG targets over the next decade. Click on the link below for our stock recommendations that we believe could battle Netflix for entertainment dominance. Not to alarm you, but you’re about to miss an important event. <]/Prev 270134>> THE CANADIAN PRESS/Jeff McIntosh, Unionized health care support workers stage wildcat strike, Saskatchewan election day: Voters go to the polls after four-week pandemic campaign, Top doctor warns severe illness likely to rise, trailing spike in COVID-19 cases. %%EOF In September, it said it was reviewing the project while asking for direct investment from the federal government and the province of Newfoundland and Labrador. Although Cenovus has recorded a profit in four straight quarters, in its most recent quarter it recorded a profit margin of just 2.2%. 0000002365 00000 n 172 0 obj <>stream I consent to receiving information from The Motley Fool via email, direct mail, and occasional special offer phone calls. 0000000016 00000 n For more information, visit cenovus.com . 0000017908 00000 n Currently, Cenovus is trading at just two times its earnings and at a minuscule price-to-book multiple of around 0.2. The all-stock transaction was cast as a … Top Moving Stock Now – salesforce.com, inc. (NYSE:CRM), MGM Resorts International (NYSE:MGM) – Analysts’ Revisions Show Sentiment Is Improving, Analysts Say You Should Hold Your Position in AT&T Inc. (NYSE:T), Investors Take Advantage of -3.83% Loss In The Boeing Company (NYSE:BA). The speculative grade liquidity rating remains SGL-1. H�|W�n���W�Q. A surprise move by Cenovus Energy Inc. to buy rival Husky Energy Inc. for $3.8 billion in shares will create the third-largest Canadian oil and natural gas producer by total production, the companies announced Sunday. A conference call and webcast to discuss the results will be held for the investment community at 9 a.m. MT (11 a.m. Looking for the Next Potential Netflix? To participate, please dial 888-231-8191 or …. %PDF-1.5 %���� Conference Call Today 9 a.m. Mountain Time (11 a.m. Eastern Time) Cenovus will host a conference call today, July 23, 2020, starting at 9 a.m. MT (11 a.m. ET). The combined company's board of directors is to be made up of eight Cenovus appointees and four from Husky. He added about $200 million in savings will come from sharing technical expertise and the other $600 million through better use of capital by focusing on assets with higher return potential. Click Here to Get Your Free Report Today! 0000002214 00000 n Shares of Canada’s oil giant Cenovus Energy are trading at $4.85, which is 65% below its 52-week high. Coincidentally, that is also how much profit it posted. The company's average rating score is 2.36, and is based on 7 buy ratings, 5 hold ratings, and 2 sell ratings. 0000017794 00000 n Husky shareholders will receive 0.7845 of a Cenovus share plus 0.0651 of a Cenovus share purchase warrant in exchange for each Husky common share. The merged company is expected to break-even on a free funds flow basis at West Texas Intermediate pricing of US$36 per barrel in 2021, and at less than WTI US$33 per barrel by 2023. Those are dirt-cheap metrics and they could make the stock an appealing buy for bargain hunters who aren’t afraid to take on some risk. We may never see oil hit US$100/barrel again but that doesn’t mean that prices will continue falling, either. 3 Beaten-Down Stocks Look Attractive, Aphria (TSX:APHA) Stock Plunges: Marijuana Industry in Trouble. VEREIT, Inc. (NYSE:VER) traded at $6.61 at last check on Monday, Oct 26, making a downturn move of -2.07% on its previous day's price. As crude oil prices have crashed, they’ve taken oil and gas stocks along with them. Companies in this story: (TSX:CVE, TSX:HSE), Sign in or register for your free account, The combined company will be better able to weather energy market volatility, Cenovus CEO Alex Pourbaix speaks at a news conference in Calgary on January 30, 2020. Toronto, October 21, 2019 -- Moody's Investors Service (Moody's) changed Cenovus Energy Inc.'s (Cenovus) outlook to positive from stable. While there’s no denying that Cenovus stock is cheap, that’s not a reason to buy it. Peabody said on the call that Husky has decided to cancel spending in 2021 on its partly completed $2.2-billion West White Rose offshore oil project. Free Reports for New Investors, 2020 Gold Price Forecast & Gold Stocks to Watch, Precious Metals Outlook 2020: CEO’s, Analysts on Gold, Silver and Platinum, 2020 Gold Price Forecast and Gold Stocks to Watch, Emerging Tech: Advances in AI, Virtual Reality and Mobile, Outlook and Opportunities in the Gaming Industry, Cleantech Market Trends and Cleantech Stocks to Buy, Tech Shaping the Future: XFuture Conference Report 2019, Investing in Esports: Stocks, Trends and Rising Demand, Start Here - Investing in Artificial Intelligence, Coronavirus Investing: An Overview for Investors, Life Science and Healthcare Investing in 2020, Pharmaceutical Investing Principles And Pharmaceutical Stocks To Buy, Biotech Investing - Top Stocks, ETFs and Future Prospects. Operations include oil sands projects in northern Alberta, which use specialized methods to drill and pump the oil to the surface, and established natural gas and oil production in Alberta and British Columbia. endstream endobj 154 0 obj <>>> endobj 155 0 obj <> endobj 156 0 obj <>/ExtGState<>/Font<>/ProcSet[/PDF/Text]/Properties<>/XObject<>>>/Rotate 0/TrimBox[0.0 0.0 612.0 792.0]/Type/Page>> endobj 157 0 obj <> endobj 158 0 obj [/ICCBased 164 0 R] endobj 159 0 obj <> endobj 160 0 obj <> endobj 161 0 obj <> endobj 162 0 obj <>stream To say that oil and gas stocks have been hit hard this year would be putting it lightly. Husky also has an upgrader and asphalt refinery near Lloydminster on the Alberta-Saskatchewan border — which could be used to process Cenovus bitumen in future — and is repairing a refinery in Wisconsin after a fire in 2018. ", Husky CEO Rob Peabody added it's the "start of a new chapter.". I understand I can unsubscribe from these updates at any time. In the meantime, companies like Cenovus have to do what they can to keep their heads above water.

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