02:50 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 C$0.45 vs. C$0.53 prior year, beating consensus by C$0.34 despite lower realized pricing pressures. WTI averaged ~US$64/b, down $17/b Y/Y, though the narrower WCS discount to US$10.27/b from US$13.61/b helped limit the overall impact on realized pricing at Hardisty. Production of 766,000 boe/d declined 4% Y/Y, with bitumen output down 7%, while Oil Sands netbacks dropped 32% to C$35.57 due to higher operating costs. Production growth is expected to accelerate in 2H 2025 as Narrows Lake ramps up by year-end and Foster Creek optimization targets first oil in early 2026. Oil Sands opex rose 19% Y/Y to C$13.60/boe, driven by fuel costs surging 37% and non-fuel costs climbing 15%. Downstream operations showed marked improvement with C$55M operating income vs. a C$309M loss in Q2 2024. We believe the production growth outlook and downstream operational recovery position CVE well for stronger earnings performance ahead.