Cenovus Energy (CVE.TO) Is Sinking By 21%: Investment Opportunity?

There was a sharp fall from June to July. The company’s stock was valued at Can$12.06 on June 22, then on July 5 has surged to Can$12.39. Since July 5, the stock price has collapse incessantly, as much as Can$9.66. Today’s stock slowly increasing, with the earnings per stock is Can$10.02.Cenovus Energy Inc. has signed an agreement into an Electricity Purchase Agreement (PPA) to purchase solar-powered electricity and offset associated emissions as part of a partnership between Cold Lake Indigenous Peoples (CLFN) and Elemental Energy Inc., helping Cenovus advance two of its priority areas in the field of environment, social policy and governance (ESG), addressing climate and greenhouse gas (GHG) emissions, as well as further supporting indigenous reconciliation through economic interaction.

Cenovus also identified water resources management, biodiversity and integration, and diversity as other important priority areas of the ESG. The company expects to publish its comprehensive ESG report for 2020 in the fourth quarter of 2021, which will incorporate new ESG targets for each core area and proforma indicators for the combined company, reflecting the acquisition of Cenovus Husky Energy on January 1, 2021.

Jack Dawkins

Finance and Tech Contributor

Want Hot Stocks?    Yes. I Love Them No thanks