CVE - Cenovus Energy Inc.
4.7500 -0.01 (-0.11%)
After hours: 7:59PM EDT
| Previous close | 4.5000 |
| Open | 4.6000 |
| Bid | 4.7300 x 45900 |
| Ask | 4.7400 x 38500 |
| Day's range | 4.5500 - 4.7500 |
| 52-week range | 1.4100 - 10.8200 |
| Volume | 5,525,444 |
| Avg. volume | 10,885,106 |
| Market cap | 5.752B |
| Beta (5Y monthly) | 3.42 |
| PE ratio (TTM) | N/A |
| EPS (TTM) | -0.4240 |
| Earnings date | N/A |
| Forward dividend & yield | N/A (N/A) |
| Ex-dividend date | 12 Mar 2020 |
| 1y target est | 10.85 |
- Motley Fool
Surging Crude Prices Send Oil Stocks Soaring Today
Oil prices started this week with a bang. WTI, the primary U.S. oil price benchmark, had rallied more than 10% by 10:30 a.m. EDT on Monday, to around $32.50 a barrel, while Brent, the global oil price benchmark, jumped more than 7% to nearly $35 a barrel. The surge in crude prices buoyed most oil stocks.
- Motley Fool
Cenovus Energy (CVE) Q1 2020 Earnings Call Transcript
To keep it simple and limit background noise, we have our president and chief executive officer, Alex Pourbaix; our chief financial officer, Jon McKenzie; our executive vice president, upstream, Norrie Ramsay; and our executive vice president, downstream, Keith Chiasson, on the call to answer your questions. Now, before I get to our quarterly results, I wanted to touch briefly for a second.
- GlobeNewswire
Cenovus reports voting results of election of Directors
CALGARY, Alberta, April 29, 2020 -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced that at its annual meeting of shareholders held on April 29, 2020, each of the 11.
- GlobeNewswire
Cenovus reports first-quarter 2020 results
Cenovus Energy Inc. (CVE.TO) (CVE.TO) continued to deliver safe and reliable operations in the first quarter of 2020 while demonstrating its ability to take swift and decisive steps to enhance its financial resilience and protect its balance sheet in the face of the global macro-economic challenges caused by the COVID-19 pandemic. “The strength of our balance sheet, the quality of our long-life oil sands reserves and the flexibility of our business to respond quickly to the changing external environment have positioned us well to withstand an extended period of low oil prices,” said Alex Pourbaix, Cenovus President & Chief Executive Officer.
- GlobeNewswire
Cenovus to hold conference call and webcast on first-quarter results
Cenovus Energy Inc. (CVE.TO) (CVE.TO) will release its first-quarter results on Wednesday, April 29, 2020. Financial statements will be available on Cenovus’s website, cenovus.com. A conference call and webcast to discuss the results will be held for the investment community at 9 a.m. MT (11 a.m. ET).
- Simply Wall St.
The Consensus EPS Estimates For Cenovus Energy Inc. (TSE:CVE) Just Fell Dramatically
The analysts covering Cenovus Energy Inc. (TSE:CVE) delivered a dose of negativity to shareholders today, by making a...
- GlobeNewswire
Cenovus Energy provides corporate update
Cenovus Energy Inc. (CVE.TO) (CVE.TO) is implementing additional measures to enhance its financial resilience in response to the low global oil price environment that is expected to continue for an unknown period. Cenovus has decided to reduce its planned 2020 capital spending by an additional $150 million which, combined with the $450 million reduction announced March 9, 2020, is a $600 million decrease from the budget released in December. The company is also forecasting operating cost reductions of about $100 million and general and administrative (G&A) cost reductions of about $50 million compared with the initial December budget.
- GlobeNewswire
Cenovus changes Annual Meeting of Shareholders to virtual webcast
Cenovus Energy Inc. (CVE.TO) (CVE.TO) announced today that its upcoming Annual Meeting of Shareholders (Shareholders Meeting) will now be held in a virtual only format. The Shareholders Meeting will be held at the originally scheduled date and time, on April 29, 2020 at 1:00 p.m. Mountain Time (MT), however, it will now be conducted in a format whereby registered shareholders and duly appointed proxyholders may only attend and participate in the meeting virtually via live audio webcast. The timing and process for voting by proxy remains unchanged; shareholders are reminded that completed proxy forms must be received no later than 1:00 p.m. MT on April 27, 2020.
- GlobeNewswire
Cenovus responds to low oil prices with reduced 2020 capital spending
Cenovus Energy Inc. (CVE.TO) (CVE.TO) is reducing its 2020 capital spending by approximately 32% in order to maintain the strength of its balance sheet. The company continues to work toward funding its revised capital program and current dividend within cash flow in this challenging commodity price environment.
- Simply Wall St.
Are Cenovus Energy Inc.’s (TSE:CVE) Returns Worth Your While?
Today we are going to look at Cenovus Energy Inc. (TSE:CVE) to see whether it might be an attractive investment...
- Bloomberg
CEOs, Lawmakers Sound Alarm on Heightened Canadian Rail Protests
(Bloomberg) -- Escalating protests against a Canadian natural gas pipeline are putting rail shipments of grain, propane, lumber and consumer goods in jeopardy and prompting consternation among executives and lawmakers.Demonstrators are blocking rail lines and other key infrastructure to support parts of the Wet’suwet’en Nation, an indigenous group that opposes the construction of TC Energy Corp.’s planned C$6.6 billion ($5 billion) Coastal GasLink project. The pipeline would carry natural gas from Western Alberta to Kitimat, British Columbia, where the gas will be turned into LNG for export.A blockade on a rail line to the port of Prince Rupert, British Columbia, has halted grain shipments to a port where 1,400 cars are unloaded each week, said Greg Northey, a spokesman for industry group Pulse Canada. Cenovus Energy Inc., which ships a significant portion of its crude oil production via rail, said the protests pose a serious threat to the country’s economy.“There is a significant risk, not just to my business, but to the Canadian economy if these protests continue to shut down ports and shut down rail,” Cenovus Chief Executive Officer Alexander Pourbaix said Wednesday in an interview. The company shipped about 120,000 barrels of crude a day via rail in January, executives said on a call.The intensifying protests are “of concern,” said Canadian Prime Minister Justin Trudeau, who added that his administration will be engaging with ministers to look at next possible steps. “We recognize the important democratic right, and we will always defend it, of peaceful protest,” Trudeau said to reporters in Dakar, Senegal. “We are also a country with a rule of law, and we need to make sure those laws are respected.”In a separate statement issued Wednesday, Transport Minister Marc Garneau said “there is time for all parties to engage in open and respectful dialog to ensure this situation is resolved peacefully, and we strongly urge these parties to do so.”Rail NetworksOn Tuesday, Canadian National Railway Co. said in a statement it will have to shut down “significant” parts of its network because of the protests.Blockades near Belleville, Ontario, and between Prince George and Prince Rupert in B.C., have already disrupted passenger traffic as well as shipments of grain, propane, lumber and consumer goods, according to CN.“It’s not just passenger trains that are impacted by these blockades, it’s all Canadian supply-chains,” CN Rail CEO Jean-Jacques Ruest said in the statement.At least three Eastern Canadian refineries that have been supplied by CN’s rail network have been cut off from crude-by-rail shipments on the system. The refineries account for about a third of the country’s refining capacity and include Irving Oil Corp.’s Saint John plant in New Brunswick, Canada’s biggest, Valero Energy Corp.’s Quebec City refinery and Suncor Energy Inc.’s Montreal plant. Valero and Irving didn’t respond to emails seeking comment.“We are closely monitoring the situation and are currently exploring alternate methods of distribution and have put measures in place to manage inventory,” a Suncor spokeswoman said. “We continue to take steps to mitigate any potential impacts.”The Western Canadian oil patch has grown increasingly reliant on rail to get crude, Canada’s biggest export, to refiners as far away as the U.S. Gulf Coast.CN expects to be shipping 250,000 barrels a day by the end of the first quarter, up from 180,000 barrels a day in September, the company said last month. It shipped 36,000 carloads in the fourth quarter -- the most in the company’s history.Canadian oil prices weakened Wednesday amid the disruption with Western Canadian Select’s discount to benchmark futures widening $1.10 to $16.85 a barrel. Prices were also pressured by a refinery fire in Louisiana.The company transports more than C$250 billion worth of goods annually across a rail network of about 20,000 route-miles spanning Canada and mid-America.Other organizations have weighed in:The Alberta Wheat and Barley Commissions said protest blockades will cause “serious unintended consequences for farmers” and the entire agriculture industry.“Even a disruption of only a few days will cause a massive backlog with economic losses that are ultimately borne by farmers.”The Canadian Chamber of Commerce said it is “deeply concerned about the damage to the Canadian economy”“A rail disruption of this magnitude constitutes an emergency for the Canadian economy.”Political MinefieldCanada’s oil and gas industry has been the target of a rising protest movement, including opposition to the Trans Mountain and Keystone XL conduit projects. The demonstrations are creating a political minefield for Trudeau as he tries to plot a way forward for an industry plagued with bottlenecks while fulfilling his promise to reduce Canada’s carbon emissions.Trudeau’s government bought the Trans Mountain project in 2018 as a way to get Canada’s crude to tidewater and faces another stark decision in the weeks ahead on whether to approve Teck Resources Ltd.’s C$20 billion Frontier oil-sands mine.KKR & Co. and Alberta Investment Management Corp. agreed to buy a 65% stake in the Coastal GasLink project in a deal expected to close in June.(Adds Suncor comment in 11th paragraph)\--With assistance from Stephen Wicary, Chris Fournier and James Attwood.To contact the reporters on this story: Divya Balji in Toronto at dbalji1@bloomberg.net;Kevin Orland in Calgary at korland@bloomberg.net;Robert Tuttle in Calgary at rtuttle@bloomberg.netTo contact the editors responsible for this story: Kyung Bok Cho at kcho7@bloomberg.net, David Marino, Carlos CaminadaFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Zacks
Cenovus Energy (CVE) Reports Q4 Loss, Lags Revenue Estimates
Cenovus (CVE) delivered earnings and revenue surprises of -225.00% and -11.06%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
- GlobeNewswire
Cenovus delivers strong 2019 financial and operating performance
Cenovus Energy Inc. (CVE.TO) (CVE.TO) continued to gain momentum in 2019, generating free funds flow of $361 million in the fourth quarter and approximately $2.5 billion for the year, reducing net debt by 22% year-over-year and completing construction on its Christina Lake phase G oil sands expansion in March. In the fourth quarter of 2019, Cenovus increased its dividend by 25% and reached full ramp-up of its crude-by-rail shipping capacity.
- Zacks
Why Earnings Season Could Be Great for Cenovus (CVE)
Cenovus (CVE) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings.
- GlobeNewswire
Cenovus to hold conference call and webcast on fourth-quarter and year-end 2019 results
CALGARY, Alberta, Feb. 05, 2020 -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) will release its fourth-quarter and year-end 2019 results on Wednesday, February 12, 2020. The.
- GlobeNewswire
Cenovus to help address Indigenous housing crisis in northern Alberta
Cenovus Energy Inc. (CVE.TO) (CVE.TO) today launched a major initiative aimed at addressing one of the most pressing issues facing Indigenous communities in Canada – the lack of adequate housing that is forcing many families to live in overcrowded and unsafe conditions. Cenovus is committing $10 million per year for five years to build much-needed new homes in six First Nations and Métis communities closest to its oil sands operations in northern Alberta, with the potential to extend the project to 10 years. The company sees this initiative as an important way to contribute to reconciliation with Indigenous peoples.
- Zacks
Baytex Releases Preliminary Report for Q419 and Full Year
Baytex Energy's (BTE) Q4 preliminary results reflect an effective decrease in debt burden by C$100 million.
- Zacks
McDermott International Files for Bankruptcy: What to Expect
Backed by the restructuring process and a secure exit financing of more than $2.4 billion, McDermott (MDR) looks forward to come out of bankruptcy with roughly $500 million in debt.
- GlobeNewswire
Cenovus sets bold sustainability targets
Cenovus Energy Inc. (CVE.TO) (CVE.TO) is establishing ambitious environmental, social and governance (ESG) targets to guide performance in its four ESG focus areas: climate & greenhouse gas (GHG) emissions, Indigenous engagement, land & wildlife, and water stewardship. Leading safety practices, strong governance and ongoing innovation remain foundational to Cenovus. The ESG targets are part of Cenovus’s focus on maintaining a low cost structure, growing free funds flow and shareholder returns, and continuing to strengthen its balance sheet as it implements the five-year business plan that was communicated at Investor Day in October.
- Simply Wall St.
Is Cenovus Energy Inc. (TSE:CVE) A Great Dividend Stock?
Dividend paying stocks like Cenovus Energy Inc. (TSE:CVE) tend to be popular with investors, and for good reason...
- Zacks
Cenovus to Increase 2020 Capital Investment & Production
Cenovus Energy (CVE) expects 70% of 2020 capital spending to be used for sustaining production levels, primarily at the Foster Creek and Christina Lake oil sands operations.
- GlobeNewswire
Cenovus’s 2020 budget maintains focus on cost leadership, capital discipline
CALGARY, Alberta, Dec. 10, 2019 -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) remains committed to delivering increasing shareholder value through cost leadership, capital.
- Simply Wall St.
If You Had Bought Cenovus Energy (TSE:CVE) Stock Five Years Ago, You'd Be Sitting On A 56% Loss, Today
While not a mind-blowing move, it is good to see that the Cenovus Energy Inc. (TSE:CVE) share price has gained 12% in...
- GlobeNewswire
Cenovus continues to deliver strong financial and operating performance in Q3
Cenovus Energy Inc. (CVE.TO) (CVE.TO) continued to deliver on its commitments to shareholders in the third quarter of 2019. Building on its excellent performance in the first half of 2019, Cenovus continued to benefit from its low cost structure and ongoing focus on capital discipline as well as from further progress in improving its market access position.
- GlobeNewswire
Cenovus to hold conference call and webcast on third-quarter 2019 results
CALGARY, Alberta, Oct. 24, 2019 -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) will release its third-quarter 2019 results on Thursday, October 31, 2019. The news release will.
