Cenovus Energy Stock Price, News & Analysis

Cenovus Energy announced plans to redeem all 6 million outstanding Series 7 Preferred Shares at $25.00 per share on June 30, 2025, totaling $150 million. The redemption will be primarily funded through cash on hand. The company's Board of Directors has declared a final quarterly dividend of $0.24594 per Series 7 Preferred Share, payable on June 30, 2025, to shareholders of record as of June 13, 2025. Registered holders can contact Computershare Investor Services for inquiries, while beneficial holders should contact their financial institutions regarding redemption proceeds.

Cenovus Energy has temporarily suspended operations at its Christina Lake oil sands facility due to wildfire activity in northern Alberta, impacting approximately 238,000 barrels per day of production. The company began a safe and methodical shutdown on May 29, 2025, and currently maintains only essential personnel at the site. While no infrastructure damage has been reported based on initial inspections, operations will resume only when safety conditions permit. The company is actively monitoring the wildfire situation and expects to fully restart Christina Lake operations in the near term. The decision prioritizes the safety of personnel and asset integrity, with all staff reported safe during this precautionary measure.

Cenovus Energy (TSX: CVE) (NYSE: CVE) held its annual meeting of shareholders on May 8, 2025, where several key matters were voted upon. PricewaterhouseCoopers LLP was reappointed as auditor with 99.58% approval. All 14 director nominees were successfully elected to the board, with approval ratings ranging from 79.92% to 99.54%. Chana Martineau, CEO of Alberta Indigenous Opportunities Corporation, joined the board, bringing 30 years of financial expertise. In a significant leadership change, Alex Pourbaix transitioned to non-independent Chair of the Board, while Claude Mongeau continues as Lead Independent Director. The shareholders also approved the company's executive compensation approach with 97.32% support.

Cenovus Energy (CVE) reported strong Q1 2025 financial results with $1.3 billion in operating cash flow, $2.2 billion in adjusted funds flow, and $983 million in free funds flow. The company achieved Upstream production of 818,900 BOE/d and Downstream crude throughput of 665,400 bbls/d with 92% utilization rate. Key highlights include an 11% increase in base dividend to $0.80 per share annually and $595 million returned to shareholders through dividends and share buybacks. The company made significant progress on growth projects, with Narrows Lake expected to start production in Q3 2025 and the West White Rose project 90% complete. Financial performance showed improvement with net earnings of $859 million, up from $146 million in Q4 2024, driven by higher benchmark prices and improved downstream market capture.

Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) has announced its schedule for two important upcoming events on May 8, 2025. The company will release its first-quarter 2025 financial results and host a conference call at 9 a.m. MT (11 a.m. ET). Analysts wishing to participate must register in advance to receive a unique PIN for telephone access. Additionally, Cenovus will hold its Annual Meeting of Shareholders on the same day at 1 p.m. MT (3 p.m. ET). Both events will be available via webcast, with the earnings call recording archived for approximately 30 days.

Cenovus Energy (TSX: CVE) (NYSE: CVE) has announced the redemption of all 8 million outstanding 4.591% Series 5 Preferred Shares on March 31, 2025. The redemption price is set at $25.00 per share, totaling an aggregate payment of $200 million to shareholders, which will be primarily funded from cash on hand.

A final quarterly dividend of $0.28694 per Series 5 Preferred Share will be paid on March 31, 2025, to shareholders of record as of March 14, 2025. Registered holders can direct inquiries to Computershare Investor Services Inc., while beneficial holders should contact their financial institutions or brokers regarding redemption proceeds.

Cenovus Energy reported its Q4 and full-year 2024 results, generating $2.0 billion in operating cash flow and $1.6 billion in adjusted funds flow during Q4. The company achieved record quarterly Oil Sands production of 628,500 BOE/d, contributing to total Upstream production of 816,000 BOE/d.

Downstream operations showed improvement with total crude throughput increasing to 666,700 bbls/d, representing 93% utilization. U.S. Refining operating expenses decreased 18% year-over-year to $10.89 per barrel.

The company returned $706 million to shareholders in Q4 through share purchases ($108M), dividends ($348M), and preferred share redemption ($250M). Full-year 2024 results included total revenues of $54.3 billion and net earnings of $3.1 billion. The Board declared a quarterly base dividend of $0.180 per common share.

Cenovus Energy (TSX:CVE) (NYSE:CVE) has announced it will release its fourth-quarter and full-year 2024 results on Thursday, February 20, 2025. The company will host a conference call at 9 a.m. MT (11 a.m. ET) to discuss the results.

Participants can join the conference call by dialing 1-800-206-4400 (toll-free in North America) or 1-289-514-5005. It is recommended to dial in 10 minutes before the call begins. A live audio webcast will be available and archived for approximately 30 days.

Cenovus Energy is an integrated energy company operating in Canada, the Asia Pacific region, and the United States, with operations spanning oil and natural gas production, upgrading, refining, and marketing. The company emphasizes safe, innovative, and cost-efficient asset management while incorporating environmental, social, and governance considerations into its business plans.

Cenovus Energy has announced its 2025 corporate guidance, planning capital investment of $4.6-5.0 billion to deliver upstream production of 805,000-845,000 BOE/d and downstream crude unit utilization of 90-95%. The plan includes $3.2 billion in sustaining capital and $1.4-1.8 billion for growth projects.

Key highlights include a 4% increase in upstream production compared to 2024, first oil expected from Narrows Lake by mid-2025, and installation of West White Rose offshore facilities. The company will maintain oil sands operating expenses at $8.50-9.50/bbl and reduce U.S. refining operating expenses by 7%. Total downstream crude throughput is projected at 650,000-685,000 bbls/d, representing a 4% increase from 2024.

The company plans to continue returning 100% of excess free funds flow to shareholders while maintaining net debt near $4.0 billion.