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 Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

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 (CVE) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Cenovus Energy (CVE) Expected to Beat Earnings Estimates: Should You Buy?

Shares in Harland & Wolff Group (AIM:HARL) were winched up 15% to 13p after the Belfast shipbuilder said it has won a £61 million contract to upgrade the SeaRose floating production storage and offloading (FPSO) vessel. The Cenovus Energy, the Canadian oil giant, will deliver the FSPO vessel in in the first quarter of 2024, where is expected to remain in H&W's building dock for at least three months, with a peak of around 1,000 staff and contractors engaged in the work.

Harland & Wolff spikes 15% after winning large oil vessel contract with Cenovus

Cenovus Energy is a large integrated oil and gas producer in Canada with strong financial results and high dividend coverage ratios. The Series 3 preferred shares currently yield 6.1%, but the dividend rate will reset at the end of 2024. The Series 1 preferred shares currently yield 5.5% and could offer a yield of 10-12.5% starting in Q1 2026, based on assumptions of a 3-4.15% long-term bond yield.

Cenovus Energy: Preferred Shares Could Yield 8-12% Upon Reset

Cenovus (CVE) remains dedicated to debt reduction through free cash flow generation and asset divestment.

Here's Why Hold Strategy is Apt for Cenovus (CVE) Stock Now

Cenovus Energy's dividend yield has fallen since 2014 and is now nearing a 2% yield. The company's thermal business generates substantial cash flow, providing protection for cash flow even in scenarios where losses are incurred. Cenovus has a strong asset base with long reserve lives, but its valuation and lack of exposure to the LNG market pose risks.

Cenovus Energy Inc: Not Getting A Lot Of Value Here

CALGARY, Alberta, Sept. 19, 2023 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced today the total consideration payable in connection with its previously announced tender offers to purchase for cash: (i) up to $500,000,000 aggregate purchase price, excluding accrued and unpaid interest (the “Pool 1 Maximum Amount”), of its 5.250% Notes due 2037, 4.450% Notes due 2042, 5.200% Notes due 2043, 4.400% Notes due 2029, 5.400% Notes due 2047 and 4.250% Notes due 2027 (collectively, the “Pool 1 Notes”) and (ii) up to $500,000,000 aggregate purchase price, excluding accrued and unpaid interest (the “Pool 2 Maximum Amount” and, together with the Pool 1 Maximum Amount, the “Maximum Amounts”), of its 6.800% Notes due 2037 and 6.750% Notes due 2039 (collectively, the “Pool 2 Notes” and, together with the Pool 1 Notes, the “Notes”), subject to prioritized acceptance levels listed in the table below (“Acceptance Priority Levels”) and the terms and conditions of the tender offers.

Cenovus Energy announces pricing of tender offers for certain outstanding series of notes

CALGARY, Alberta, Sept. 19, 2023 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced today the early tender results for its tender offers to purchase for cash certain of its outstanding series of Notes.

Cenovus Energy announces early tender results and increase of tender offers for certain outstanding series of notes

Chevron

Alphabet

Fusion energy stocks will only gain more attention between now and 2030. The first fusion power plants will likely be operational by that date.

Invest in Fusion Energy With These 3 Stocks to Buy

Defined by the International Atomic Energy Agency as the process where “two light atomic nuclei combine to form a heavier one, releasing massive energy,” nuclear fusion could potentially reshape our energy narrative. Moreover, Bloomberg's eye-popping projection suggests nuclear fusion could potentially be a $40 trillion market, fueling intrigue in nuclear fusion stocks to buy.

3 Nuclear Fusion Stocks to Buy Right Now

E&P stocks trade at depressed valuations compared to other times in their history. They could experience explosive upside if today's valuations re-rate to higher levels. While we're not banking on a bonanza from a multiple re-rating, energy investors should be aware of the possibility.

Cenovus Energy: This Variable Can Turbocharge The E&P Rally

CALGARY, Alberta, Sept. 05, 2023 (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 $750 million.

Cenovus Energy announces tender offers for certain outstanding series of notes

The Cenovus Energy Inc. acquisitions made now have to be optimized for the overall organization. The refineries starting up are switching from needing cash to generating cash (and profits). Sunrise will likely lower some very high breakeven costs.

Cenovus Energy: Cash Drain Ending

Cenovus Energy has undergone a turnaround and is now an attractive investment with efficient production, substantial oil reserves, and a focus on reducing debt. The company is expected to reach its net debt target by the end of the year, unlocking a wave of cash for shareholders. Recent outperformance, including a 20% return on NY-listed shares since May, suggests a positive future for CVE shares.

Cenovus Energy: Massive Buybacks And Dividends Are Around The Corner

Cenovus, a Canadian tar sands producer, offers less to investors as compared to shale oil producers in the lower 48, including Chevron. Also, Cenovus does not have exposure to the fast-growing global and very profitable LNG market. Chevron does. Bottom line: Chevron has a superior asset base, a higher free cash flow yield, stronger dividend growth, and overall superior total returns.

Chevron Is Better Than Cenovus

Higher contributions from the Canadian Manufacturing unit and lower expenses aid Cenovus' (CVE) earnings in Q2.

Cenovus (CVE) Shares Gain 5% Since Reporting Q2 Earnings Beat

Cenovus Energy, Inc. (NYSE:CVE ) Q2 2023 Earnings Conference Call July 27, 2023 11:00 AM ET Company Participants Jason Abbate - SVP, Investor Relations Jonathan McKenzie - President & CEO Joseph Zieglgansberger - EVP of Natural Gas & Technical Services Norrie Ramsay - EVP, Upstream, Thermal, Major Projects & Offshore Keith Chiasson - EVP, Downstream Jeffrey Hart - EVP & CFO Rhona Delfrari - Chief Sustainability Officer & EVP, Stakeholder Engagement Kam Sandhar - EVP, Strategy & Corporate Development Conference Call Participants Dennis Fong - CIBC Wealth Markets Greg Pardy - RBC Capital Markets Neil Mehta - Goldman Sachs Group Robert Tuttle - Bloomberg News Harry Mateer - Barclays Bank Chris Varcoe - Calgary Herald Menno Hulshof - TD Securities Manav Gupta - UBS John Royall - JPMorgan Chase & Co. Operator Good day, ladies and gentlemen, and thank you for standing by. Welcome to Cenovus Energy's Second Quarter Results.

Cenovus Energy, Inc. (CVE) Q2 2023 Earnings Call Transcript

Cenovus Energy (CVE) came out with quarterly earnings of $0.33 per share, beating the Zacks Consensus Estimate of $0.32 per share. This compares to earnings of $0.93 per share a year ago.

Cenovus Energy (CVE) Surpasses Q2 Earnings Estimates

Oil and gas producer Cenovus Energy Inc reported a 64% fall in second-quarter profit on Thursday, hurt by lower oil prices and wildfires in Canada's main oil producing province Alberta which forced producers to curtail production.

Canada's Cenovus Energy reports lower second-quarter profit

CALGARY, Alberta, July 27, 2023 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) generated nearly $2.0 billion in cash from operating activities, approximately $1.9 billion in adjusted funds flow and $897 million in free funds flow in the second quarter of 2023. Total upstream production was approximately 730,000 barrels of oil equivalent per day (BOE/d)1, reflecting a planned turnaround at Foster Creek and production impacts in the Conventional segment in May and June due to Alberta wildfire activity. Downstream throughput averaged almost 538,000 barrels per day (bbls/d), increasing in the quarter as volumes ramped up following restart work at the Superior and Toledo refineries.

Cenovus announces 2023 second-quarter results and organizational update

Cash flow from operating activities has increased far more than the Cenovus Energy Inc. stock price. The company went from primarily a thermal producer to an integrated company. This is something that is new to the market. Acquisitions are likely to proceed at a slower pace.

Cenovus Energy: Still Growing

CALGARY, Alberta, July 20, 2023 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will release its second-quarter 2023 results on Thursday, July 27. The news release will provide consolidated second-quarter operating and financial information. The company's financial statements will be available on Cenovus's website, cenovus.com.

Cenovus to hold second-quarter conference call and webcast

Cenovus Energy has made steady progress in debt reduction. Despite the Q1-2023 hiccup, target levels for accelerated shareholder returns will likely be reached in the next 12 months. Preferred shares, especially series 1, offer a very low-risk income play.

Cenovus Energy: Preferred Shares Look Incredibly Attractive

CSI Compressco

Enbridge

Equitrans Midstream

Genesis Energy

VanEck Vectors Oil Services ETF

Plains All American Pipeline

Pembina Pipeline

Transocean

Sitio Royalties Corp

Targa Resources

TC Energy

Viper Energy Partners LP

Western Gas Partners

Energy Select Sector SPDR Fund

SPDR S&P Oil & Gas Exploration & Production ETF

Energy shares traded aimlessly on low volume until indicators pointed to a tightening oil market late in the week. Friday saw dramatic outperformance in response to improving oil market fundamentals despite heightened macro concerns. The late-week price action suggests further oil market tightening will push oil-related equities higher over the coming months.

Energy Income Weekly: The Week's Price Action Bodes Well For The Second Half

CALGARY, Alberta, June 29, 2023 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) released its 2022 environmental, social and governance (ESG) report today, detailing sustainability performance and progress on its ESG targets. The company also announced a milestone to reduce absolute methane emissions in its upstream operations by 80% by year-end 2028, from a 2019 baseline.

Cenovus Energy releases 2022 ESG report

LLOYDMINSTER, Alberta and LLOYDMINSTER, Saskatchewan, June 27, 2023 (GLOBE NEWSWIRE) -- The City of Lloydminster and Cenovus Energy today announced the region's newest event facility will be called the Cenovus Energy Hub. Cenovus's $5 million contribution towards naming rights, construction and programming demonstrates its continued commitment to Lloydminster and the surrounding area.

News for Cenovus Energy Stock (CVE)