Movement Alert|Cenovus Falls 6.21% in Regular Trading, Q3 Revenue Miss and Sector Weakness Weigh on Shares

Market Focus
Nov 05

On November 5, Cenovus fell 6.21% in Regular Trading, trading at $28.65 per share, with turnover of $91.12 million.

The key catalyst was its latest quarterly report: third-quarter diluted EPS came in at CA$1.83, above the CA$1.60 consensus, but revenue of CA$15.98 billion missed expectations of about CA$16.87 billion. The company also reported downstream crude throughput of 437 Mbbls/d and crude unit utilization of 92%.

The move also came amid broad weakness across Integrated Oil & Gas stocks, magnifying the market reaction to the revenue shortfall. Peer names were also lower, with Exxon Mobil down 3.45%, Chevron down 3.03%, Shell down 1.26%, Occidental down 4.12%, and BP down 2.12%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10