02:45 PM EDT, 07/31/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

CVE posted Q2 adjusted EPS of CAD0.45 vs. CAD0.53 in the prior year, beating consensus by CAD0.34 despite lower upstream realized pricing Y/Y. U.S. WTI averaged ~$64/b, down $17/b Y/Y, though the WCS discount to WTI narrowed to $10.27/b from $13.61/b, resulting in Hardisty realized price of $53.47/b, only $13.50/b lower Y/Y. Production growth is expected to accelerate in 2H 2025 with Narrows Lake ramping up by year-end and Foster Creek optimization targeting first oil in early 2026. Q2 production of 766,000 boe/d was down 4% Y/Y, with bitumen production (72% of total) declining 7% while conventional natural gas (19% of total) fell 2%. Oil Sands netback dropped 32% to CAD35.57 due to lower pricing, while operating expenses rose 19% to CAD13.60/boe, driven by fuel costs up 37% to CAD2.87/boe and non-fuel costs up 15%. Downstream operations showed significant improvement with CAD55M operating income vs. CAD309M operating loss in Q2 2024.