08:06:48 EDT Thu 23 Mar 2023
Enter Symbol
or Name

Login ID:
Cenovus Energy Inc
Symbol CVE
Shares Issued 1,917,460,170
Close 2023-01-23 C$ 25.68
Recent Sedar Documents

Globe says CNRL, Imperial parent were inflation beaters

2023-01-24 09:04 ET - In the News

See In the News (C-CNQ) Canadian Natural Resources Ltd

The Globe and Mail reports in its Tuesday, Jan. 24, edition that rising interest rates were the main contributor to the woes of the stock markets in 2022. The Globe's guest columnist Gordon Pape writes that Imperial Oil parent ExxonMobil and Canadian National Resources were inflation beaters. Both thrived in a rising price environment and are still doing well, although momentum is slowing. The price at the pumps has dropped in recent weeks as oil prices have eased, but the big producers are still making bucket loads of cash at current levels. Mr. Pape says he has not seen year-end results from any of the major companies yet, but ExxonMobil reported nine-month 2022 profits of just under $43-billion (U.S.) ($10.17 (U.S.) a share), compared with $14.2-billion (U.S.) ($3.31 (U.S.) a share) in the same period last year. Year-end results are due Jan. 31. It is the same story for Canadian Natural, albeit on a smaller scale. Canadian Natural reported a nine-month adjusted profit of $10.7-billion (Canadian) ($9.20 (Canadian) per diluted share), up from $4.8-billion (Canadian) ($4.04 (Canadian) per share) the year before. Enerplus, Cenovus Energy and Tourmaline Oil all did well in 2022.

© 2023 Canjex Publishing Ltd. All rights reserved.