Cenovus Energy Inc.
The price for West Texas Intermediate crude oil fell to a negative $37 U.S. a barrel in April 2020 as the COVID-19 pandemic, combined with a lack of storage space, triggered a massive sell-off of oil futures contracts. Prices have since recovered to around $42 U.S.
However, oil demand remains vulnerable as the second wave of COVID-19 could lead to more lockdowns....
We continue to recommend you maintain some exposure to oil stocks as part of the Resources portion of your overall portfolio. The four oil producers we analyze below still have substantial reserves; they’re also doing a good job of cutting their costs. That puts them in a strong position to increase profits as the global economy recovers from COVID-19.
SUNCOR ENERGY INC....
SUNCOR ENERGY INC....
CENOVUS ENERGY, $4.78, remains a buy for patient investors. The company (Toronto symbol CVE; Shares outstanding: 1.2 billion; Market cap: $5. billion; TSINetwork Rating: Average; No dividends paid; www.cenovus.com) has agreed to acquire rival oil producer Husky Energy Inc....
CENOVUS ENERGY INC. $5.15 remains a buy for patient investors. The company (Toronto symbol CVE; Conservative Growth Portfolio, Resources sector; Shares outstanding: 1.2 billion; Market cap: $6.2 billion; Price-to-sales ratio: 0.4; Dividend suspended in March 2020; TSINetwork Rating: Extra Risk; www.cenovus.com) owns 100% of the Christina Lake and Foster Creek oil sands properties in Alberta....
The price for Western Canadian crude oil jumped from an average $4.92 a barrel in April to $46.03 in June as Canada and other countries began to ease COVID-19 lockdowns.
Strengthening oil prices, combined with aggressive cost cuts, improve the prospects of these four oil producers....
Strengthening oil prices, combined with aggressive cost cuts, improve the prospects of these four oil producers....
Here are key updates on your holdings: Cenovus Energy Inc., SNC-Lavalin Group Inc. and Torstar Corp.
CENOVUS ENERGY INC. $5.03 remains a buy for patient investors. The company (Toronto symbol CVE; Conservative Growth Portfolio, Resources sector; Shares o/s: 1.2 billion; Market cap: $6.0 billion; Price-to-sales ratio: 0.3; Dividend suspended in March 2020; TSINetwork Rating: Extra Risk; www.cenovus.com) owns 100% of the Christina Lake and Foster Creek oil sands properties in Alberta....
METRO INC., $58.11, is a buy. The stock (Toronto symbol MRU; Shares o/s: 254.2 million; Market cap: $14.8 billion; TSINetwork Rating: Average; Dividend yield: 1.6%; www.metro.ca) lets you tap 950 grocery stores and 650 drugstores, in Quebec, Ontario and New Brunswick.
To improve its long-term profitability and drive investor value, Metro now plans to build a new distribution centre near Montreal to handle fresh and frozen products....
To improve its long-term profitability and drive investor value, Metro now plans to build a new distribution centre near Montreal to handle fresh and frozen products....
BCE INC. $55.33, is a buy. The telecom (Toronto symbol BCE; Shares o/s: 904.3 million; Market cap: $50.0 billion; TSINetwork Rating: Above Average; Divd. yield: 6.0%; www.bce.ca) is Canada’s largest traditional telephone service provider: it has 2.7 million residential customers in Ontario, Quebec, Manitoba and the Atlantic provinces....
CENOVUS ENERGY, $9.32, is a buy for the Resources segment of your portfolio. The company (Toronto symbol CVE; Shares o/s: 1.2 billion; Market cap: $11.5 billion; TSINetwork Rating: Average; Dividend yield: 2.7%; www.cenovus.com) owns 100% of the Christina Lake and Foster Creek oil sands properties in Alberta....
Despite persistently low oil and gas prices, you should continue to hold Resource stocks in your portfolio (as much as 15% of the total). To cut your risk, however, investors should stick with producers—like Cenovus and Encana—that have high-quality properties and low operating costs.
CENOVUS ENERGY INC....
CENOVUS ENERGY INC....