I think we all agree that energy earnings in general are a non-event. No matter how outstanding the results are:
1-most already know it
2-if WTI drops 2%, they gonna sell-off
Brent-WTI$W&T Offshore Inc(WTI)$ spread keeps widening and trades at ~$9/bbl. Again, good for U.S. exports.
To me out of all energy releases so far,CVE$Cenovus(CVE)$ was the most disappointing.
CVE Cash flow estimates
TD agrees with me on CVE
-CAPEX up twice now
-FFO was a big miss
-Shit tons of share issuance
I really don’t get the hate for WCP$Whitecap Resources, Inc.(SPGYF)$ .
Updated WCP model with TP ~$21
Cash flow comparison between CNQ$Canadian Natural Resources(CNQ)$ SU$Suncor(SU)$ CVE IMO$Imperial(IMO)$ &TOU
Updated CF comparison between MEG$Montrose Environmental Group(MEG)$ WCP CPG VET & ARX
-WCP had a blowout quarter!
TD on CPG$Crescent Point(CPG)$
TD on TOU
TD on BTE$Botala Energy Ltd(BTE.AU)$
VET$Vermilion(VET)$ is almost back to its 52w high.
So far market loved TOU,GXE,BTE andWCP....not so much CVE
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