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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (35835)	5/9/2018 10:32:28 AM
From: Goose94	Read Replies (1) \| Respond to of 203026

Cenovus Energy (CVE-T) verge of new 52

To: Goose94 who wrote (35835)	4/17/2019 7:27:38 PM
From: Goose94	Read Replies (1) \| Respond to of 203026

Cenovus Energy (CVE-T) top pick from Norman Levine on BNN.ca Market Call Wednesday Apr 17th @ 1200ET Cenovus is one of the largest energy producers in Canada, of which 80 per cent is oil (largely oil sands) and 20 per cent natural gas. It owns long life, low decline assets, mostly heavy oil. Production growth has been stagnating due to a lack of pipelines to handle any additional production. A three-year rail contract it recently signed will help. The company had a difficult 2018 due to high-debt levels and poor hedges. Its new CEO has strong operational skills and has cut its hedging program and reduced the debt through asset sales. Helping earnings are its 50-per-cent ownership of two U.S. refineries. We want to increase exposure to energy stocks when oil is rising or staying at a high level and reduce it when it declines. With oil stocks greatly lagging the price of crude and Canadian oil selling at a large discount, now it’s a good time to buy Cenovus. One worry is the overhand in the stock. as ConocoPhillips owns 17 per cent of shares. Eventually, that position will be offered into the market, but we believe it will be at significantly higher prices from today.