05:24:13 EDT Thu 22 Oct 2020
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Kelt Exploration Ltd
Symbol KEL
Shares Issued 184,278,107
Close 2019-10-16 C$ 3.15
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Globe says CIBC positive on Cenovus, others

2019-10-16 07:19 ET - In the News

See In the News (C-CVE) Cenovus Energy Inc

The Globe and Mail reports in its Wednesday edition that equity analysts at CIBC World Markets expect quarterly results for TSX-listed energy companies to be a "mixed bag," however, they also expected it to be "relatively quieter." The Globe's David Leeder writes that the analysts say in a note: "Specifically, while we are 2 per cent above consensus estimates for Q3/19 CFPS [cash flow per share] on an aggregate basis, this includes a mix of positive and negative outliers. It's also worth noting that we have reduced our CFPS expectations by a simple average of 6 per cent coming into reporting season and 1 per cent on a market-cap weighted basis. ... We believe a combination of valuation and other factors leaves us believing that it makes sense to turn some dials in select weights. This includes taking up Cenovus to the upper part of our pecking order, along with becoming positive on select condensate names (Kelt Exploration, NuVista Energy and Seven Generations), and then starting to think about getting more positive on selective natural gas names as we move closer into the winter season. That said, on the latter point we are also cautious of Q3 prints for most natural gas and liquids-weighted companies."

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