Cenovus Energy Inc. (CVE.TO) - Page 2
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Thread: Cenovus Energy Inc. (CVE.TO)

  1. #11
    Senior Member
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    Oct 2013
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    239
    Down 2.94% to $28.77/share .........nearing their 52 week low ($28.32) .........well below their 50 day MA ($29.70) and their 200 day MA ($30.39) ................increase in dividends each year since 2009 ........next dividend payout will be an increased amount of $0.2662 (formerly $0.242) ............anyone taking interest?

    Last edited by Killer Z; 2014-02-13 at 07:58 PM.

  2. #12
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    I sold Cenovus yesterday at $29.63 and eeked out a very tiny capital gain. I didn't have a whole lot invested in this company in the first place and wasn't one of my highest conviction buys, so it was a sigh of relief not to be part of today's dip.

    The problem I have with Cenovus is that it's supposed to be the lowest cost operator. Yet, it's been two or three quarters in a row where its expenditures from its projects came in over expected. In addition, this company has lagged its competitors, while the oil prices have increased. All that being said, I think the current price is very attractive for someone investing for the long-term. It has a growing dividend and one of the higher yields in the integrated oil company space. CVE has attractive assets; it just has to deliver operationally.

  3. #13
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    Oct 2011
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    311
    The story looks pretty good to me. Lots of profit last quarter, $1.10 in cash flow per share, and Leeder, this quarter they had good control on operating costs. As Killer mentioned a bump in the divvy to boot. I can't help myself, I've got to buy some!

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  5. #14
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    The Christina Lake operating costs were fine. It was the operating cost at Foster Creek that increased, and CVE also increased its 2014 operating cost guidance with this project.

    If the stock price drops further, I may look into it again. I'll definitely keep it on my watch list!

  6. #15
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    I just saw the average of $13.02 bbl, but didn't see the operational breakdown. Do you think Foster Creek is a potential problem down the line?

  7. #16
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    I doubt it's a problem in the long-term. Everything resolves one way or another in the long-term.

    In the short-term, until they resolve the issue with Foster Creek and continue to keep operational costs low with their projects, this stock will trade at this range. You can probably buy now, but you'll have to stomach the volatility in the short-term because I don't think it'll go anywhere. Also, I'm not good at reading technical indicators, but this stock is trading below 50 and 200-day moving average, and the trend is negative. Doesn't give me the warmest feelings in the world. On the bright side, the dividend is secure and you get paid while you wait.

  8. #17
    Senior Member
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    Oct 2011
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    Hmm, did some more digging. Foster Lake does seem to be a pretty big thorn in their side. These things have a way of hanging around and dragging things down, viz Cameco's Cigar Lake and Barrick's Pascua-Lama. I may wait to pull the trigger. Thanks for pointing that out Leeder, I let my enthusiasm get the better of my usual hard nosed cynicism about earnings reports.

  9. #18
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    Feb 2014
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    93
    Anyone in the know have any up to date info. on them?

  10. #19
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    Smithers, Bc
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    I have heard rumors they are working on a helicopter supported drilling program which will essentially allow them to have a longer drill season, no need for roads.

  11. #20
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    Oct 2011
    Posts
    311
    Approval for the Grand Rapids project is very good news; something like 1.5 billion barrels of probable reserves.


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