Our 1Q18e production estimate is down 5%, but our FY18e estimate is largely unchanged given unchanged production guidance, while our ‘18e CFPS estimate is down 2%. Our official estimates do not yet reflect QTD commodity prices. However, based on QTD prices, we suspect 1Q18e CFPS may be ~zero. $14.50 TP and BUY rating unchanged.
22 Mar 2018
CVE restricts oilsands output
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CVE restricts oilsands output
Cenovus Energy Inc. (CVE:TSE) | 0 0 (-5.3%) | Mkt Cap: 11,501m
- Published:
22 Mar 2018 -
Author:
Michael P. Dunn -
Pages:
6
Our 1Q18e production estimate is down 5%, but our FY18e estimate is largely unchanged given unchanged production guidance, while our ‘18e CFPS estimate is down 2%. Our official estimates do not yet reflect QTD commodity prices. However, based on QTD prices, we suspect 1Q18e CFPS may be ~zero. $14.50 TP and BUY rating unchanged.