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Stock Market & Financial Investment News

News Breaks
September 10, 2013
08:02 EDTPDS, ECA, BTE, ERF, DVN, VET, CVE, CNQPeters & Co to host a conference
Limited Energy Conference is being held in Toronto, Canada on September 10-12 with webcasted company presentations to begin on September 10 at 8 am; not all company presentations may be webcasted. Webcast Link
News For CNQ;DVN;ECA;CVE;ERF;PDS;VET;BTE From The Last 14 Days
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February 11, 2016
06:28 EDTCVECenovus Energy cutting dividend by 69% to C$0.05 per share
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06:27 EDTCVECenovus Energy to reduce workforce in FY16
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06:26 EDTCVECenovus Energy to defer scheduled turnaround at Foster Creek until 2017
Cenovus has identified further opportunities to reduce operating and G&A expenses by prioritizing repairs and maintenance and cancelling or deferring non-essential work, including the deferral of a scheduled turnaround at Foster Creek until 2017. The company plans to continue optimizing its processes to help realize greater efficiencies and is working with its suppliers and service providers to find additional opportunities to reduce costs and increase productivity.
06:26 EDTCVECenovus Energy to reduce capital spending by C$200M-C$300M
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06:26 EDTCVECenovus Energy cuts FY16 CapEx view to $1.2B-$1.3B, backs production view
Cenovus Energy is reducing planned capital spending by $200M-$300M compared with the company's original 2016 budget released in December. Cenovus now plans to spend $1.2B-$1.3B, 27% less than in 2015 and 59% below 2014 levels. The company is also targeting additional operating and G&A cost savings of $200M in 2016 to match expected activity levels. Planned capital budget reductions for 2016 include lower spending at Cenovus's Foster Creek and Christina Lake oil sands operations, its emerging oil sands assets and the company's conventional oil business. The planned capital spending reductions are expected to have minimal impact on the company's oilsands production for 2016, which is forecast to remain within guidance, at between 144K bbls/d and 157K bbls/d net.
06:23 EDTCVECenovus Energy reports Q4 EPS (C$0.53) vs. (C$0.78) last year
Reports Q4 production 199,556 bbls/d.
06:23 EDTCVECenovus Energy cuts dividend 69% to C$0.05 per share
Cenovus Energy is reducing its dividend by 69% from 4Q15. For 1Q16, the board has declared a dividend of C$0.05 per share, payable on March 31 to common shareholders of record as of March 15. Based on the February 10 closing share price on the TSE of C$13.52, this represents an annualized yield of about 1.5%.
06:21 EDTCVECenovus Energy reports Q4 operating EPS (53c), consensus (21c)
Reports Q4 total oil production of 199,556 bbls/d and natural gas production of 424 MMcf/d. Oil sands operating costs declined $3.37/bbl or 25% to $10.13/bbl in 2015. This included a 19% decrease in non-fuel operating costs to $7.66/bbl.
06:12 EDTPDSPrecision Drilling suspends dividned
Effective immediately, Precision is suspending its dividend and believes the suspension will further strengthen liquidity during a challenging and extended industry downturn.
06:11 EDTPDSPrecision Drilling reports Q4 EPS (C$0.93) vs. (C$0.39) last year
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February 10, 2016
11:43 EDTDVNDevon Energy picks Jefferies to sell non-core assets, Reuters reports
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February 3, 2016
06:07 EDTERFEnerplus completes sale of Canadian natural gas assets for $183M
Enerplus has completed one of the divestments of certain Canadian natural gas properties for cash proceeds of approximately $183M, before closing adjustments. Proceeds from this transaction were used to reduce the company's outstanding indebtedness. Production from the properties divested under this transaction was expected to average approximately 4,700 BOE/day, 97% natural gas, in 2016. The second transaction relating to the divestment of additional Canadian natural gas properties is expected to close during Q1.
February 2, 2016
15:16 EDTDVNS&P takes rating actions on U.S. investment-grade E&P companies
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10:10 EDTPDSPrecision Drilling downgraded to Market Perform at Raymond James (pre-open)
Raymond James downgraded Precision Drilling to Market Perform from Outperform.
10:01 EDTDVNOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: BlackBerry (BBRY) initiated with a Buy at TD Securities... British American Tobacco (BTI) initiated with a Buy at Berenberg... Cabot Oil & Gas (COG) initiated with a Buy at SunTrust... Celestica (CLS) initiated with a Hold at TD Securities... Devon Energy (DVN) initiated with an Equal Weight at Stephens... Fitbit (FIT) initiated with an Outperform at Oppenheimer... Imperial Tobacco (ITYBY) initiated with a Buy at Berenberg... Kite Pharma (KITE) initiated with an Outperform at RBC Capital... Mellanox (MLNX) initiated with a Buy at Roth Capital.
07:15 EDTDVNDevon Energy initiated with an Equal Weight at Stephens
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February 1, 2016
16:04 EDTECAViking Global Investors reports 6.5% passive stake in Encana
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January 29, 2016
15:47 EDTDVNDevon Energy upgraded to Neutral from Underweight at Mitsubishi UFJ
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10:05 EDTPDSOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: American Equity (AEL) initiated with an Outperform at RBC Capital... Calpine (CPN) initiated with a Buy at Guggenheim... Diamondback Energy (FANG) initiated with an Outperform at BMO Capital... Dynegy (DYN) initiated with a Neutral at Guggenheim... ICF International (ICFI) initiated with a Market Perform at Barrington... Juno Therapeutics (JUNO) initiated with a Buy at SunTrust... Kite Pharma (KITE) initiated with a Buy at SunTrust... Match Group (MTCH) initiated with a Neutral at Susquehanna... Medifast (MED) initiated with a Hold at Wunderlich... NRG Energy (NRG) initiated with a Buy at Guggenheim... NRG Yield (NYLD) initiated with a Neutral at Guggenheim... Nutrisystem (NTRI) initiated with a Buy at Wunderlich... Parsley Energy (PE) initiated with an Outperform at BMO Capital... Precision Drilling (PDS) initiated with a Hold at Canaccord... RSP Permian (RSPP) initiated with an Outperform at BMO Capital... Taylor Morrison (TMHC) initiated with a Neutral at Citi... Tortoise North American Energy (TYN) initiated with a Neutral at Guggenheim... WisdomTree (WETF) initiated with a Neutral at Northcoast.
07:38 EDTPDSPrecision Drilling initiated with a Hold at Canaccord
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