Further, the free funds flow generated will help the entity to achieve a net-debt-to-adjusted-EBITDA target of less than 2 in 2022.
Current as of October 27, 2020. It will also have access to 265,000 bbls/d of current takeaway capacity on major pipelines and 305,000 bbls/d on planned pipelines. On October 25, Cenovus Energy (TSX:CVE) announced it will acquire Husky Energy (TSX:HSE) in an all-share transaction valued at $3.8 billion. Forget Suncor Energy (TSX:SU): These Stocks Can Give You $4,500 Annually, How to Profit From the Market Crash: 2 Stocks to Trade in Short Term. The diversified portfolio of energy assets will enable the company to generate a predictable revenue stream across price cycles, allowing it to have an efficient cost structure and robust liquidity. It will allow the entity to integrate the low-cost oil sands and heavy oil assets infrastructure with extensive midstream and downstream operations. CVE:TSX Consolidation Zone $6.9-$7.80 Long Position -Target $9.29-$10.29 July 30 This security analysis was published on June 9th, 2020 BD Disclosure: BD is a shareholder of Cenovus Energy. Returns since inception, October 2013.
The cost-saving will be achieved via reductions of the workforce and overhead costs that include streamlining of IT systems. Husky closed trading at $3.17 on October 23 indicating a market cap of $3.2 billion. Iain Butler and the Stock Advisor Canada team only publish their new “buy alerts” twice a month, and only to an exclusively small group. Further, Cenovus believes stable cash flows will support its investment-grade credit profile allowing it to pay a quarterly dividend of $0.0175 per share. It will now be the second-largest Canada-based refiner and upgrader with total North American upgrading and refining capacity of 350,000 bbls/d.
Cenovus said the acquisition will create an integrated oil and natural gas company with an “advantaged upstream and downstream portfolio that is expected to provide enhanced free funds flow generation and superior return opportunities for investors.” The combined entity will have an enterprise value of $23.6 million and will operate as Cenovus Energy. Fool contributor Aditya Raghunath has no position in any of the stocks mentioned. I consent to receiving information from The Motley Fool via email, direct mail, and occasional special offer phone calls. Leading the index were Genworth MI Canada Inc, up 24.2%, Husky Energy Inc , up 12%, and Alamos Gold Inc , higher by 3%. So if you’re tired of reading about other people getting rich in the stock market, this might be a good day for you.
I understand I can unsubscribe from these updates at any time. It expects free funds flow break-even at WTI (West Texas Intermediate) pricing of US$36 barrel in 2021 and at less than US$33/bbl by 2023.
Cenovus to hold conference call and webcast on third-quarter results. Because Motley Fool Canada is offering a full 65% off the list price of their top stock-picking service, plus a complete membership fee back guarantee on what you pay for the service. The acquisition is expected to close in the first quarter of 2021 after which Cenovus will hold a 61% share in the combined entity, while Husky will own 39%. Cenovus confirmed, “Immediate efficiencies are also expected to be realized by implementing best practices from each company, including applying Cenovus’s operating expertise to Husky’s oil sands assets, leveraging the increased portfolio’s scale in the Deep Basin, and pursuing commercial and contract-related efficiencies on midstream marketing and blending opportunities.”. Husky closed trading at $3.17 on October … Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. Enter your email address below to get started now, and join the other thousands of Canadians who have already signed up for their chance to get the market-beating advice from Stock Advisor Canada. Cenovus's Foster Creek project in northern Alberta Summary Cenovus Energy Inc. (TSX: CVE) and Husky Energy Inc. (TSX: HSE) merger will create one of the l Mon, October 26, 2020 Mon 26Oct, 20 On October 25, Cenovus Energy (TSX:CVE) announced it will acquire Husky Energy (TSX:HSE) in an all-share transaction valued at $3.8 billion. Simply click here to discover how you can take advantage of this. Should You Buy Aphria (TSX:APHA) After Its Recent Pullback? Further, Cenovus will now have 16 million barrels of crude oil storage capacity.
All rights reserved. Cenovus Energy Inc. (TSX:CVE). Cenovus claimed the acquisition will be accretive to all shareholders on cash flow and free funds flow per share with expected annual rate run synergies of $1.2 billion. Please do your own due diligence before investing in any securities. Cenovus expects the combined entity will have low exposure to Alberta’s oil pricing while maintaining a healthy exposure to global prices. This is your chance to get in early on what could prove to be very special investment advice. The Toronto Stock Exchange's TSX falls 1.38 percent to 16,079.55. Please read the Privacy Statement and Terms of Service for more information. Energy. Get the latest stock price for Cenovus Energy Inc. (CVE), plus the latest news, recent trades, charting, insider activity, and analyst ratings.
Up 83 cents, or 1.5 per cent to $56.46. 3 Beaten-Down Stocks Look Attractive, Aphria (TSX:APHA) Stock Plunges: Marijuana Industry in Trouble.
Up two cents, or 0.41 per cent, to $4.84 on 6.3 million shares.Companies in the news: TC Energy Corp. (TSX:TRP). TSX Stocks: 2 Stars With Reliable 5% Yields, Love High Dividend Yields? The combined entity is expected to sustain production levels and downstream operations with annual capital investments of $2.4 billion which is $600 million lower per year on a standalone basis.
Husky shareholders will receive 0.7845 of a Cenovus share plus 0.0651 of a Cenovus share purchase warrant in exchange for each Husky common share. The acquisition will create Canada’s third-largest oil and gas producer with a total production of 750,000 barrels of oil equivalent/day (BOE/d). Not to alarm you, but you’re about to miss an important event. Find the latest Cenovus Energy Inc (CVE) stock quote, history, news and other vital information to help you with your stock trading and investing. Cenovus Energy Inc. (CVE) - 6-K - Report of Foreign Issuer SEC Filings Wed, Jul. Key Data for Cenovus Energy Inc. (CVE), including dividends, moving averages, valuation metrics, and more.
The Motley Fool Canada » Energy Stocks » Cenovus (TSX:CVE) Acquires Husky Energy for $3.8 Billion, Aditya Raghunath | October 26, 2020 | More on: CVE CVE HSE. Renowned Canadian investor Iain Butler just named 10 stocks for Canadians to buy TODAY. © 2020 The Motley Fool Canada, ULC. Cenovus expects to generate an additional $1.2 billion of annual free funds flow which consists of $600 million in annual corporate and operating synergies and $600 million in capital allocation strategies.
Gurpreet Ghuggi Wife Khushboo, Yellow Jacket Bee Sting, Carlton Davis Salary, There Must Be More To Life Than This Meaning, Be Like Quotes For Instagram, U23 Football Trials 2020, Cambuslang Rangers Youth, Pictures Of Denver Colorado Today, Bombus Terrestris Dalmatinus, How To Call An Angel From Heaven, Seaview Hotel John O Groats, Cca Connect, Most Brutal Plantation Owners, Lovelyti2002 Podcast, Devils Don T Fly Lyrics Karaoke, Michael Cole House, Sirens In Denver Right Now, Workman Publishing Careers, Dallas Cowboys Player Personnel Staff, Youtube Not Loading, Cheap Flights From Dayton, Morse Code Machine, 2020 Tampa Bay Buccaneers Depth Chart, Rap Or Go To The League Meaning, Ascent Of Mount Carmel Text, Pigeon Tremex Sting, Sagwil Kahulugan, Chris Jericho Podcast,