|Bid||6.75 x 0|
|Ask||6.88 x 0|
|Day's Range||6.47 - 6.91|
|52 Week Range||2.21 - 8.96|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Apr 27, 2021 - May 03, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||5.01|
Canada's Cenovus Energy Inc on Thursday forecast higher production and spending for 2021 after its purchase of rival Husky Energy but stressed its focus on cutting debt as the oil industry rebounds from the depths of the COVID-19 pandemic. Cenovus agreed to buy rival Husky last year to create Canada's No. 3 oil and gas producer, as historically low oil prices caused by a collapse in fuel demand due to COVID-19 and a price war between Saudi Arabia and Russia forced the industry to consolidate.
Cenovus (CVE) expects the combined entity to have a production capacity of 750,000 Boe/d.
Moody's Investors Service, (Moody's) downgraded Husky Energy Inc.'s (Husky) senior unsecured rating to Baa3 from Baa2. Husky is now a wholly-owned subsidiary of Cenovus Energy Inc. (Cenovus). Moody's expects the amalgamation will be completed and the Husky debt will be pari passu with the Cenovus debt.