|Day's Range||44.47 - 45.31|
|52 Week Range||38.80 - 53.17|
|PE Ratio (TTM)||-35.58|
|Dividend & Yield||1.06 (2.37%)|
|1y Target Est||N/A|
Ratings agency DBRS on Friday downgraded Cenovus Energy Inc, saying the Canadian oil company's acquisition of ConocoPhillips assets in March negatively affects its credit and more than outweighs the benefits of the deal. DBRS rated Cenovus at BBB, down one notch from BBB (high), in what the oil company said was its first downgrade following the deal. Cenovus' debt-fueled $13.3 billion purchase of ConocoPhillips' oil sands and natural gas assets in March sparked a near 50 percent fall in shares.
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.