Cenovus Energy - Not As Bad As It Looks

Cenovus Energy (CVE) investors woke up this morning to an ugly Q4 earnings report. The company missed analyst expectations for funds from operations per share by 6%, reporting C$1.17 versus expectations of C$1.24. The miss was driven by lower-than-expected oil sands sales volumes, a larger-than-expected cash tax payment, and an unusually weak performanc…