Cenovus Energy

Cenovus Energy, Inc. engages in provision of gas and oil. Its activities include development, production, and marketing of crude oil, natural gas liquids (NGLS), and natural gas in Canada. The firm operates through four segments: Oil Sands, Conventional, Refining & Marketing, and Corporate & Eliminations. The Oil sands segment includes the development and production of bitumen in northeast Alberta including Foster Creek, Christina Lake and Narrows Lake as well as projects in the early stages of development. The Conventional segment includes includes land primarily in the Elmworth-Wapiti, Kaybob-Edson, and Clearwater operating areas. The Refining and Marketing segment provides transportation and selling of crude oil, natural gas and NGLS. The Corporate and Eliminations segment includes unrealized gains and losses recorded on derivative financial instruments, divestiture of assets, as well as other administrative, financing activities and research costs. The company was founded in 1881 and is headquartered in Calgary, Canada.

Earnings data Q2 2023

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Cenovus Energy, Inc. is a Canadian-based integrated energy company, which engages in the provision of gas and oil. It operates through the following segments: Oil Sands, Conventional, Offshore, Canadian Manufacturing, U.S. Manufacturing, and Corporate and Eliminations. The Oil Sands segment is involved in the development and production of bitumen and heavy oil in northern Alberta and Saskatchewan. The Conventional segment includes assets rich in NGLs and natural gas within the Elmworth-Wapiti, Kaybob-Edson, Clearwater and Rainbow Lake operating areas in Alberta and British Columbia and interests in numerous natural gas processing facilities. The Offshore segment operates, explore, and develop activities in China and the East Coast of Canada, as well as the equity-accounted investment in the Husky-CNOOC Madura Ltd. (HCML) joint venture in Indonesia. The Canadian Manufacturing segment owns and operates Lloydminster upgrading and asphalt refining complex, which converts heavy oil and bitumen into synthetic crude oil, diesel, asphalt, and other ancillary products. The U.S. Manufacturing segment consists of refining of crude oil to produce gasoline, diesel, jet fuel, asphalt, and other products at the wholly-owned lima Refinery and Superior Refiner, the jointly-owned Wood River and Borger refineries and the jointly-owned Toledo Refinery. The Corporate and Eliminations segment refers to the Cenovus-wide costs for general and administrative, financing activities, gains, and losses on risk management for corporate related derivative instruments and foreign exchange. The company was founded in 1881 and is headquartered in Calgary, Canada.

CALGARY, Alberta, Aug. 26, 2022 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced today the commencement of tender offers to purchase for cash certain of its outstanding series of notes listed in the table below (collectively, the “Notes”) for an aggregate purchase price, excluding accrued and unpaid interest, of up to $1.5 billion.

Cenovus Announces Tender Offers for Certain Outstanding Series of Notes

Zacks.com users have recently been watching Cenovus (CVE) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.

Investors Heavily Search Cenovus Energy Inc (CVE): Here is What You Need to Know

The average of price targets set by Wall Street analysts indicates a potential upside of 33.2% in Cenovus (CVE). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.

Wall Street Analysts Predict a 33% Upside in Cenovus (CVE): Here's What You Should Know

Higher daily oil sand production aids Cenovus' (CVE) earnings in Q2.

Cenovus (CVE) Shares Dip 7.6% Despite Earnings Beat in Q2

Since the purchase of the ConocoPhillips interest in 2017, Cenovus Energy's profits have increased dramatically. The Husky merger should allow profits to make another giant leap.

Cenovus Energy: Rewriting History

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Is Cenovus Energy (CVE) a Great Value Stock Right Now?

Cenovus is getting closer to the lower end of its net debt target range. Cash returns to shareholders are high already, but they could climb further going forward.

Cenovus Energy: Prepare For The Cash Flood

CALGARY, Alberta, Aug. 08, 2022 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE), through its U.S. operating business, has reached an agreement to purchase bp's 50% interest in the bp-Husky Toledo Refinery in Ohio. Cenovus has owned the other 50% of the refinery since its combination with Husky Energy in 2021. Cenovus's U.S. operating business will assume operatorship from bp upon closing of the transaction, which is expected before the end of 2022, dependent on the satisfaction of closing conditions. Total consideration includes US$300 million in cash, subject to customary closing adjustments, plus the value of inventory. In addition, the parties have signed a multi-year product supply agreement.

Cenovus Acquiring Outstanding 50% Interest in Toledo Refinery from bp, Will Assume Operatorship

Cenovus Energy Inc. (NYSE:CVE ) Q2 2022 Earnings Conference Call July 28, 2022 11:00 AM ET Company Participants Sherry Wendt - Vice President of Investor Relations Alexander Pourbaix - President and Chief Executive Officer Norrie Ramsay - Executive Vice President of Upstream Keith Chiasson - Executive Vice President of Downstream Jonathan McKenzie - Chief Operating Officer Rhona DelFrari - Chief Sustainability Officer Conference Call Participants Menno Hulshof - TD Securities Greg Pardy - RBC Capital Markets Dennis Fong - CIBC World Markets Neil Mehta - Goldman Sachs Manav Gupta - Credit Suisse John Royall - JPMorgan Chris Varcoe - Calgary Herald Nia Williams - Reuters Operator Good day, ladies and gentlemen, and thank you for standing by. Welcome to Cenovus Energy's Second Quarter Results.

Cenovus Energy Inc. (CVE) CEO Alexander Pourbaix on Q2 2022 Results - Earnings Call Transcript

The average of price targets set by Wall Street analysts indicates a potential upside of 28.9% in Cenovus (CVE). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.

Wall Street Analysts Think Cenovus (CVE) Could Surge 29%: Read This Before Placing a Bet

Cenovus (CVE) delivered earnings and revenue surprises of 4.49% and 14.13%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

Cenovus Energy (CVE) Q2 Earnings and Revenues Beat Estimates

Company returned more than $1 billion to shareholders through share buybacks Company returned more than $1 billion to shareholders through share buybacks

Cenovus Announces 2022 Second-Quarter Financial and Operating Results

Cenovus' (CVE) upstream operations are expected to have been aided by the favorable commodity price scenario in Q2.

Is a Beat in the Offing for Cenovus (CVE) in Q2 Earnings?

CALGARY, Alberta, July 25, 2022 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will release its second-quarter results on Thursday, July 28. The news release will provide consolidated second-quarter operating and financial information. Financial statements will be available on Cenovus's website.

Cenovus to hold second-quarter conference call and webcast July 28

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Recently, Zacks.com users have been paying close attention to Cenovus (CVE). This makes it worthwhile to examine what the stock has in store.

Is Most-Watched Stock Cenovus Energy Inc (CVE) Worth Betting on Now?

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I believe recession fears on energy demand are overdone and the supply situation will keep prices elevated for an extended time. Cenovus continues to pay off debt and should transition to returning nearly all FCF to investors by 2023.

Cenovus: Buy The Dip

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CALGARY, Alberta, June 21, 2022 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced a new and significant commitment to Indspire that will support initiatives across Canada aimed at enhancing education and recognizing the outstanding achievements of Indigenous people. Cenovus will donate $1 million over four years, becoming a partner with Indspire, an Indigenous national charity that invests in the education of First Nations, Inuit, and Métis people.

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Funds flow from operating activities is many times the level before the first acquisition was made roughly 5 years ago. Despite considerable cash flow and earnings improvement, the stock price only recently began appreciating.

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As part of the deal, Cenovus (CVE) will give up its 35% interest in Canada's Bay du Nord oil project to BP.

News for Cenovus Energy Stock (CVE)