8.64 +0.10 (1.22%)
After hours: 4:18PM EDT
|Bid||8.49 x 2900|
|Ask||8.55 x 900|
|Day's Range||8.39 - 8.74|
|52 Week Range||6.15 - 10.82|
|Beta (3Y Monthly)||1.36|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.19 (2.23%)|
|1y Target Est||10.85|
While the market driven by short-term sentiment influenced by the accomodative interest rate environment in the US, increasing oil prices and deteriorating expectations towards the resolution of the trade war with China, many smart money investors kept their cautious approach regarding the current bull run in the second quarter and hedging or reducing many of […]
ExxonMobil (XOM) and Royal Dutch Shell (RDS.A) issued updates on their upcoming Q3 earnings. Meanwhile, ConocoPhillips (COP) announced a 38% dividend hike combined with a $3 billion share repurchase.
Cenovus (CVE) says that its operations, as a whole, are strong enough to generate significant fund flow that will help it lower debt burden.
Investors have generally punished companies that increased spending on drilling instead of returning cash to shareholders. "In this business balance sheet strength is absolutely imperative," Cenovus CEO Alex Pourbaix said at the company's investor day in Toronto, adding the focus would be on generating substantial free funds flow and increasing returns to shareholders. Cenovus, whose 2019 capital expenditure forecast was already below last year's spending, said its five-year plan will focus on growing its cumulative free funds flow to C$11 billion, while increasing production by 2% to 3% yearly to reach 550,000 barrels of oil equivalent (BOE) per day by the end of 2024.
Oil and gas producer Cenovus Energy Inc on Wednesday lowered its spending forecast for the year and said will raise its quarterly dividend, as it focuses on giving more money back to shareholders. Oil and gas companies have been pressed hard by investors to scale back spending and show more returns, clean up their balance sheets and boost cash flow as oil prices remain volatile with ongoing global trade uncertainties. Cenovus said its five-year plan will focus on growing its cumulative free funds flow to C$11 billion, while increasing production by 2% to 3% per year.
Cenovus Energy Inc. (CVE.TO) (CVE.TO) today announced its updated corporate strategy and five-year business plan. Building on the company’s excellent financial performance in the first half of 2019, Cenovus’s strategy through 2024 will focus on sustainably growing shareholder returns and further reducing net debt. The five-year business plan allows for disciplined production growth at Cenovus’s best-in-class oil sands assets, subject to improved market access, and provides potential for cumulative free funds flow of approximately $11 billion at mid-cycle West Texas Intermediate (WTI) prices averaging between US$57 and US$60 per barrel (bbl).
CALGARY, Alberta, Sept. 25, 2019 -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) will hold its 2019 Investor Day in Toronto on Wednesday, October 2, 2019 with presentations.
Moody's Investors Service ("Moody's") today upgraded the senior secured rating for Borger Energy Associates, L.P. (Borger) to Ba3 from B1. Borger's rating upgrade is driven by the renewal of its Steam Sales Agreement (SSA) on favorable terms with its steam offtaker, WRB Refining LP (WRB). The SSA, which was set to expire this year, has been extended for five years to June 2024.
It's been almost two weeks since General Electric (NYSE:GE) announced its Q2 earnings. Although they were slightly better than expected, General Electric stock has dropped meaningfully since its results were unveiled. Source: Shutterstock InvestorPlace - Stock Market News, Stock Advice & Trading TipsBefore you buy GE stock, you might want to consider that the biggest GE stock bear -- Stephen Tusa of JPMorgan, who was bearish on General Electric stock way back in April 2013 -- continues to be unimpressed by CEO Larry Culp's turnaround plan. * 7 Safe Dividend Stocks for Investors to Buy Right Now Investors don't seem too impressed with Culp's plan, either. Since Culp's taken the top job at GE in October 2018, the GE stock price is down about 25%.Despite the warnings of JPMorgan's Tusa, the longtime General Electric stock bear, some investors might think they should be greedy when others are fearful when it comes to GE stock. But that would be a mistake. GE isn't the company it once was, Tusa is not the only analyst who's skeptical about Culp's ability to turn the company around. Moreover, there are better stocks with share prices under $10 and there are better names with market caps of around $80 billion. There are many reasons why investors might want to think twice about General Electric stock. Here are three of them The Bear's Not BitingEven though GE beat analysts' estimates and the company raised its full-year outlook, Tusa suggested that weakness at its Power and Renewables businesses made General Electric stock undesirable."The quarter was a miss operationally, with the combined Power/Renewables segments worse (despite no H-class turbine deliveries which is accretive), offset by modest upside at Healthcare and a material miss at Aviation, the key value driver," Tusa stated in his a July 31 note to his clients. "The stock is up on the headlines, as it has been many times before, but, like in the past, the underlying core fundamentals are actually a bit worse, and we remain underweight on this basis and would be selling into any strength," the analyst added. Tusa has a $5 price target on General Electric stock at the moment. To make things worse, GE stock price breached its 200-day moving average on Aug. 9 for the first time since early June. Nine analysts have a "buy" rating on GE, nine have a "hold" rating and two have a "sell" rating. As for their target prices, the high is $21, and the average is $11.83. If GE stock price rebounds to the average target, it will have generated a return of nearly 25%. That's tempting, but I wouldn't bet against Tusa at this point. Better Choices Than General Electric Stock There aren't a lot of large-cap stocks, other than financials, with share prices of less than $10.However, I would suggest that Sirius XM (NASDAQ:SIRI), Ford (NYSE:F), Cenovus (NYSE:CVE), and CNH Industrial (NYSE:CNH) would all make better buys than General Electric stock at this point.As for large-cap stocks with market caps of around $80 billion, investors could put together a diversified, 20-company portfolio of similarly valued stocks that could do better than GE stock over the long haul.Stocks that come to mind include Mondelez International (NASDAQ:MDLZ), CVS Health (NYSE:CVS), and Intuit (NASDAQ:INTU). As I stated in July, the gains GE has made in 2019 -- it's up 23.3% including dividends, through August 9 -- are profits that should be taken. "While it might regain positive free cash flow by 2020, its earning power won't be nearly as robust as it once was. As recently as 2014, GE had almost $21 billion of free cash flow. After selling so many divisions to tidy up its balance sheet, it's lost the ability to generate significant cash flow," I wrote in a column published on July 12."Analysts like Stephen Tusa see that as a big problem. I would tend to agree with them." I added.At the end of the day, Larry Culp won't be able to return GE to its glory years. He might be able to build a reasonably sound business in three to five years, but he's never going to make it a $300 billion market cap giant like it was before the last major recession in 2008. Investors shouldn't buy General Electric stock until Stephen Tusa changes his stripes and becomes a GE stock bull. But you've probably got a better shot at winning the lottery. Once analysts are bears, they usually stay bearish. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Real Estate Investments to Ride Out the Current Storm * 7 Marijuana Penny Stocks to Consider for Those Who Can Handle Risk * 7 Safe Dividend Stocks for Investors to Buy Right Now The post JPMorgan Is Still Bearish on General Electric StockÂ Â appeared first on InvestorPlace.
Cenovus (CVE) delivered earnings and revenue surprises of -30.43% and 1.09%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
Cenovus Energy Inc. (CVE.TO) (CVE) reduced net debt to $7.1 billion in the second quarter after generating over $830 million in free funds flow. The company’s excellent financial performance was driven by higher realized oil prices, which contributed to oil sands operating margin of more than $1.0 billion. “Through focused operations and disciplined capital allocation, we have materially improved our balance sheet and achieved a very important milestone,” said Alex Pourbaix, Cenovus President & Chief Executive Officer.
CALGARY, Alberta, July 23, 2019 -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has published its 2018 environmental, social & governance (ESG) report detailing the company's.
While higher y/y contribution from the U.S Land unit is likely to fuel Helmerich and Payne's (HP) fiscal Q3 earnings, tepid performance from Offshore and International Land units may ail results.
TOTAL (TOT) is expected to beat earnings estimates when it reports Q2 results on Jul 25, 2019. The results are likely to get a boost from new projects, which are in turn boosting production.