Professional
Added to YB: 2024-05-15
Pitch date: 2024-03-31
CVE [bullish]
Cenovus Energy Inc.
-9.09%
current return
Author Info
No bio for this author
Company Info
Cenovus Energy Inc., together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada, the United States, and China.
Market Cap
CAD 36.8B
Pitch Price
CAD 25.46
Price Target
N/A
Dividend
4.18%
EV/EBITDA
5.10
P/E
14.28
EV/Sales
0.86
Sector
Oil, Gas and Consumable Fuels
Category
turnaround
L1 Capital Long Short Fund Portfolio Holding: Cenovus Energy Inc.
CVE +20%: $83 WTI & better refining margins lifted shares. 5yr plan: +150mbbl/d (800 now), refining turnaround. Sees C$32B FCF at $75 WTI (C$51B mkt cap now). 100% excess cash return post C$4B debt in '24. Low cost, long-life assets & cash gen make it a top energy pick.
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