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, Feb. 08, 2022 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) delivered record oil sands production in the fourth quarter of 2021, contributing to total upstream output of more than 825,000 barrels of oil equivalent per day (BOE/d)1 and almost 792,000 BOE/d1 for the full year. The company generated fourth-quarter cash from operating activities of $2.2 billion and adjusted funds flow of $1.9 billion. With free funds flow of $1.1 billion in the quarter, and proceeds from recent divestitures, net debt was below $9.6 billion at year end, a reduction of more than $1.4 billion from the end of the third quarter and $3.5 billion in 2021 following the acquisition of Husky Energy. Total long-term debt was $12.4 billion as at December 31, 2021, down nearly $1.7 billion from January 1, 2021, and expected to decrease by approximately US$384 million on February 9 when Cenovus redeems the remaining principal amount of its notes due in 2023 and 2024. As part of its plan to enhance shareholder returns, Cenovus continues to buy back common shares under its previously announced Normal Course Issuer Bid (NCIB) and as of February 7 had repurchased approximately 26 million common shares at a volume weighted price of $16.31 per share.

Cenovus announces 2021 fourth-quarter and full-year results

The latest combination is proving to be yet another bargain. This company has made substantial progress since disposing of the ConocoPhillips Partnership.

Cenovus Energy: More Synergies On The Horizon

Cenovus has many levers to pull in the coming year that could boost the stock. Analysts covering the stock rate it as a BUY with price targets around $20.

Cenovus Energy: An Old Rigrat Puts On Snow Shoes

CALGARY, Alberta, Feb. 01, 2022 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will release its fourth quarter and full-year 2021 results on Tuesday, February 8. The news release will provide consolidated fourth quarter and full-year operating and financial information.

Cenovus to hold Q4 conference call and webcast on February 8

Cenovus is going to see massive gains in 2022 due to the oil price being higher than expected.

Cenovus Energy: The Party Is Just Getting Started

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CALGARY, Alberta, Jan. 10, 2022 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced today that on February 9, 2022 (the “Redemption Date”) it will redeem the entire outstanding principal amount of its 3.80% notes due September 15, 2023 and 4.00% notes due April 15, 2024 (collectively the “Notes”). Cenovus has issued notice to the trustees of the Notes of its intent to redeem the Notes on the Redemption Date. On the Redemption Date, Cenovus will pay to the registered holders of the Notes a redemption price calculated in accordance with the indentures governing the Notes.

Cenovus to redeem 3.80% notes due September 15, 2023 and 4.00% notes due April 15, 2024

Cenovus is my largest position and I believe it is the best way to play a strong crude environment in 2022. Even after a strong performance in 2021, Cenovus is still trading at a forward Enterprise Value/Free Cash Flow of ~4 with WTI at $77.

Cenovus: The Best Oil Stock For 2022

Cash flow exploded upward as the industry recovery continues. Consolidation benefits promise more good news in the future.

Cenovus Energy: Rapid Cash Flow Growth Continues

Cenovus (CVE) will use the proceeds from the transaction to reduce the debt burden and improve its ability to raise shareholder returns.

Cenovus (CVE) Scores Deal to Divest Alberta's Tucker Assets

The stock price of Cenovus Energy Inc (NYSE: CVE) increased by over 1.7% today. This is why it happened.

Cenovus Energy Stock (CVE): Why The Price Increased Today

Proceeds will further accelerate net debt reduction and support increasing shareholder returns Proceeds will further accelerate net debt reduction and support increasing shareholder returns

Cenovus announces sale of Tucker asset for $800 million

With higher capital spending, Cenovus Energy (CVE) expects its production to improve year over year in 2022.

Cenovus (CVE) Guides for 2022 Production & Capital Spending

Expects about 50% of 2022 excess free funds flow to be allocated to shareholder returns Expects about 50% of 2022 excess free funds flow to be allocated to shareholder returns

Cenovus releases 2022 budget, updated strategy and 5-year business plan

Cenovus (CVE) reported earnings 30 days ago. What's next for the stock?

Cenovus (CVE) Down 1.5% Since Last Earnings Report: Can It Rebound?

Proceeds will accelerate debt reduction and support enhanced shareholder returns Proceeds will accelerate debt reduction and support enhanced shareholder returns

Cenovus announces asset sales of nearly $660 million

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CALGARY, Alberta, Nov. 25, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will host its virtual 2021 Investor Day and release its 2022 budget, updated strategy and five-year business plan on Wednesday, Dec. 8. The company will also issue its 2020 environmental, social and governance (ESG) report and new targets for Cenovus's five ESG focus areas, including climate change & greenhouse gas emissions.

Cenovus to host virtual Investor Day and announce 2022 budget

Cenovus is going to double the dividend and begin to buy back shares as they have hit their debt targets, and hit them early. Cenovus is a cash machine right now thanks to unhedged exposure to rising oil prices.

Cenovus Energy: Shareholders Are Going To Get Paid

Cenovus Energy recently doubled their dividends and announced a large share buyback program to commence upon reaching their net debt target. Whilst their dividend yield remains a very low sub-1%, investors who buy now stand to line up a potential high yield of 7%+ on current cost in the future.

Cenovus Energy: Dividends Doubled, Buy Now To Line Up A 7%+ Yield

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Higher daily oil sand production aids Cenovus Energy's (CVE) Q3 earnings.

Cenovus Energy (CVE) Gains 9.7% Despite Q3 Earnings Miss

CALGARY, Alberta, Nov. 04, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced today that the Toronto Stock Exchange (TSX) has accepted the company's notice of intention to implement a normal course issuer bid (“NCIB”) to purchase up to 146,451,823 common shares during the 12-month period commencing November 9, 2021 and ending November 8, 2022.

Cenovus intends to implement normal course issuer bid

Cenovus Energy Inc. (CVE) CEO Alex Pourbaix on Q3 2021 Results - Earnings Call Transcript

Company announces dividend increase, plans share buyback program Company announces dividend increase, plans share buyback program

News for Cenovus Energy Stock (CVE)