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

To: Goose94 who wrote (104988)	5/28/2021 2:17:07 PM
From: Goose94	Read Replies (2) \| Respond to of 202740

Cenovus Energy (CVE-T) revisited 2.0 top pick from Eric Nuttall on BNN.ca Market Call Friday May 28th @ 1200ET Cenovus is actively working on monetizing some of the non-core assets purchased with the Husky acquisition to allow for rapid deleveraging and thus sooner-than-expected return of capital. While Conoco Phillips has announced their gradual liquidation of their stake in the company it amounts to less than five per cent of average trading volumes thus does not present a major overhang. Trading at 3.5x EV/CF at US$70WTI and a 35 per cent free cash flow yield once leverage metrics are achieved I see them meaningfully increasing their dividend while announcing a major share repurchase program. Using a target multiple of 6x EV/CF and US$70WTI we see potential upside of 115 per cent.