Topic: Dividend Stocks

CENOVUS ENERGY INC. $34 – Toronto symbol CVE

CENOVUS ENERGY INC. $34 (www.cenovus.com) reported that its cash flow per share rose 54.4% in the third quarter of 2011, to $1.05 from $0.68 a year earlier. A 9.6% increase in oil prices was the main reason for the gain. The stock trades at 8.0 times Cenovus’s forecast 2011 cash flow of $4.27 a share. That’s a reasonable multiple in light of its high-quality reserves. Buy.

Comments

Tell Us What YOU Think

You must be logged in to post a comment.

Please be respectful with your comments and help us keep this an area that everyone can enjoy. If you believe a comment is abusive or otherwise violates our Terms of Use, please click here to report it to the administrator.