|Day's Range||44.59 - 45.38|
|52 Week Range||38.80 - 53.17|
|PE Ratio (TTM)||-35.56|
|Dividend & Yield||1.06 (2.36%)|
|1y Target Est||N/A|
These two top oil and gas companies are weathering some worrying industry trends. Which one is a better buy for investors right now?
Cenovus Energy Inc's efforts to sell C$5 billion ($3.8 billion) of energy assets, already facing a rocky road because weak oil prices are depressing the appetite for deals, has become complicated by the surprise departure of its chief executive officer, fund managers said. Brian Ferguson's announcement on Tuesday that he will step down as CEO in October is the latest sign of tumult within Canada's oil sands industry, which has seen international oil majors dump $22.5 billion in assets this year alone. It follows Cenovus' unpopular, debt-fueled $13.3 billion purchase of ConocoPhillips' oil sands and natural gas assets in March, which sparked a near 50 percent fall in Cenovus shares.
At the time, Conoco's shares were trading at $49.87 after the U.S. oil company sold its Canadian assets to Cenovus Energy (CVE). Because today Goldman Sachs analyst Neil Mehta and Carly Davenport resumed coverage of ConocoPhillips with a Neutral rating, despite that "major positive" they see in the Cenovus deal. While we believe COP is taking positive strategic steps, we see fewer catalysts in 2H2017 to move shares higher, especially after recent relative strength vs. Energy...COP has transformed its business more rapidly than expected, with the company executing $16 bn in asset sales in 2017, well ahead of its $5-$8 bn target.