Those cash numbers are way too low. You have to look at a lot more than operating expense. Items such as transportation (to get cash price at property gate from Edmonton based selling prices), royalties, current taxes (not deferred taxes), interest expense (on debt), G&A and ???. As said in another thread, go to the financials and calculate it for yourself. The wild card in the calculation is royalties and current taxes, both of which are variable depending on netback (margin).
Any reasons why CVE is taking such a beating the last 5 days compared to HSE, SU, CNQ? Is it because of the share offering? Down by almost 11.81% and getting near the december 2014 lows.
CALGARY, ALBERTA--(Marketwired - Feb. 17, 2015) - Cenovus Energy Inc. (TSX:CVE)(NYSE:CVE) ("Cenovus") announced today that it has entered into a bought-deal financing agreement to sell 67.5 million common shares ("Common Shares") at a price of $22.25 per share (the "Offering"). The net proceeds of the Offering, combined with the company's $3 billion of undrawn committed credit lines, provide Cenovus with a stronger balance sheet and financial flexibility to pursue its planned capital program.
The Offering will be made through a syndicate of underwriters (the "Underwriters") led by RBC Capital Markets and TD Securities Inc. The gross proceeds from the Offering are expected to be about $1.5 billion. The Offering is subject to customary closing conditions, including receipt of applicable regulatory and stock exchange approvals, and is expected to close on or about March 3, 2015.
I think this is a crazy deal. People who don't own CVE are happy to get in, but long time shareholders are not happy.
I got out last year and this move proves I don't agree with management.
Even if they are one of the lowest cost per barrel oil sand company.
I guess the ex-div date was today, or yesterday, I'm not sure. Either way, still a bit disappointing. I had higher hopes for this one. I thought we would see $23 relatively soon as a "bounce" back from the bought deal news.
I'm in for 1000 at 21.95.
If it keeps going lower I think I may just purchase another 500. It seems to be relatively flat, so I may be able to do a quick trade or two on 500 shares while keeping my original position of 1000 shares. They are yielding 5% now and I don't think a dividend cut is in the books.
It looks to me like the stock wants to go higher, but there is the oil uncertainty so it's just staying flat instead. Not going down, but not really moving upwards, either.
I originally purchased at $29.45 early last year then bought down at $22.45 in December. I'm guessing I'll have to be really patient with this one but trusting the value will do well over time. Meanwhile, as has been noted, the dividend looks relatively secure.
I think you'll be fine. I've got some high hopes for this one as I have said previously. I am watching this one everyday. It doesn't usually follow the other oil companies. It has lots of buying activity and a low number of willing sellers.
if we consider dividend and compounding. Assuming you bought it for 24.71 in 2009 and sold it after5 year at 23.3,total dividends are 4.11..
Avg return will be 2.09%
Suncor vs CVE
Interesting they follow the same trend till 2013 infact SU was low after that SU just went up..
May be I am looking at something wrong
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