The Globe and Mail reports in its Friday edition that according to Desjardins Securities analyst Chris MacCulloch the fourth quarter earnings season for the Canadian energy sector highlighted the significant divide among oil producers. The Globe's David Leeder writes that Mr. MacCulloch says while oil producers have been enjoying the benefits of relatively strong commodity prices, they are also eagerly anticipating the tightening of Western Canadian Select oil differentials, which is expected to happen with the upcoming launch of the Trans Mountain pipeline. He adds: "Conversely, it was a much more challenging environment for natural gas weighted producers now staring down one of the bleakest short-term price outlooks in recent memory, which forced industry to re-evaluate development plans while formally acknowledging the painful reality of moderating capital returns. ... Results closely aligned with consensus expectations as the Street appeared to have been properly calibrated for a slight moderation in sector cash flows relative to 3Q23." Accordingly, Mr. MacCulloch boosted his share target for Cenovus Energy to $29.50 from $28. Analysts on average target the shares at $30.22. He continues to rate the shares "buy."