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.

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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: Upstream, Downstream, and Corporate and Eliminations. The Upstream segment refers to operations of oil sands, conventional, and offshore. The Downstream segment operates the Canadian and U.S. refining. The Corporate and Eliminations segment includes the corporates costs for general and administrative. The company was founded in 1881 and is headquartered in Calgary, Canada.

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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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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Deals by Cenovus and BP Dominate Oil & Gas Stock Roundup

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.

Cenovus announces significant commitment to education and recognition for Indigenous people across Canada

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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.

Cenovus Energy: Finally Mr. Market Responds

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

Cenovus to Acquire Remaining Stake in BP's Sunrise Project

CALGARY, Alberta, June 13, 2022 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has reached an agreement to purchase the remaining 50% of the Sunrise oil sands project in northern Alberta from bp. Total consideration for the transaction includes $600 million in cash, a variable payment with a maximum cumulative value of $600 million expiring after two years, and Cenovus's 35% position in the undeveloped Bay du Nord project offshore Newfoundland and Labrador. The transaction has an effective date of May 1, 2022 and is anticipated to close in the third quarter of this year, subject to closing conditions and normal purchase price adjustments.

Cenovus acquiring outstanding 50% interest in Sunrise oil sands asset

Does Cenovus Energy (CVE) have what it takes to be a top stock pick for momentum investors? Let's find out.

What Makes Cenovus Energy (CVE) a Strong Momentum Stock: Buy Now?

Cenovus Energy has been a great performer, rising 15x from the lows seen in 2020. And yet, Cenovus isn't really expensive today. The company generates massive cash and looks rather cheap based on EV/EBITDA and when looking at net profits.

Can Cenovus Energy Stock Keep Rising Or Is A Reversal In Store?

Cenovus Energy is well-positioned to benefit from higher oil prices. Cenovus Energy declares that with its net debt below $9 billion, which it is at now, it will return 50% of its free cash flow to shareholders.

Cenovus Energy: Debt Down, Capital Returns Of 100% Of FCF In Q3

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Cenovus (CVE) and partners have worked to significantly de-risk the project in the past 16 months.

Cenovus (CVE) to Restart West White Rose Project in Canada

News for Cenovus Energy Stock (CVE)