Cenovus Energy Stock Price, News & Analysis

Cenovus Energy has received TSX approval to renew its normal course issuer bid (NCIB) to purchase up to 127,489,549 common shares between November 11, 2024, and November 10, 2025. Under its prior NCIB expiring November 8, 2024, the company repurchased 64,729,372 shares at an average price of $25.20. The new NCIB represents 10% of Cenovus's public float as of October 31, 2024. The company has also entered into an automatic share purchase plan (ASPP) to facilitate purchases during blackout periods. Daily purchases through TSX will be to 1,421,218 shares.

Cenovus Energy reported its Q3 2024 financial results, generating $2.5 billion in cash from operating activities, $2.0 billion of adjusted funds flow, and $614 million of free funds flow. Upstream production reached 771,000 BOE/d, slightly lower than Q2 due to turnaround activity at Christina Lake. Downstream throughput increased by 20,000 bbls/d to 643,000 bbls/d. The company returned $1.1 billion to shareholders, including $732 million in share purchases and $329 million in base dividends. Net earnings were $820 million, down from $1.0 billion in Q2.

Cenovus Energy (TSX:CVE) (NYSE: CVE) has announced its upcoming third-quarter 2024 results release, scheduled for Thursday, October 31. The company will host a conference call at 8 a.m. MT (10 a.m. ET), accessible via toll-free dial-in at 1-888-307-2440 in North America or 647-694-2812 internationally. A live audio webcast will be available and archived for approximately 30 days.

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

Cenovus Energy (TSX: CVE, NYSE: CVE) reported strong operational performance in Q2 2024, with solid upstream production and improved crude throughput at U.S. refineries, reaching a 93% utilization rate. Net debt was reduced to $4.26 billion by June 30, 2024, achieving the net debt target of $4.0 billion in July. Starting Q3, the company will return 100% of excess free funds flow (EFFF) to shareholders. Highlights include increased production guidance to 797,500 BOE/D and throughput guidance to 655,000 bbls/d, completion of major projects such as the West White Rose and the Lloydminster Upgrader turnaround, and strong financial performance with $14.9 billion in total revenues and $1.0 billion in net earnings. The company also declared quarterly dividends for common and preferred shares, and updated its 2024 guidance, reflecting positive operational outlooks and reduced operating costs.

Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) has announced its second-quarter 2024 results release and conference call, scheduled for August 1, 2024. The company will provide consolidated second-quarter operating and financial information through a news release, with financial statements available on the Cenovus website.

The conference call is set for 8 a.m. MT (10 a.m. ET). Participants can register in advance for an automated call-back or dial in directly. A live audio webcast will also be available. Cenovus Energy Inc. is an integrated energy company with operations in Canada, Asia Pacific, and the United States, focusing on safe, innovative, and cost-efficient asset management while integrating ESG considerations into its business plans.

Cenovus Energy, part of Pathways Alliance, expressed concerns about Canada's Bill C-59, which amends the Competition Act affecting environmental and climate disclosures. The bill requires businesses to substantiate environmental claims using 'internationally recognized methodology,' which is undefined, creating risks of frivolous litigation. This has forced Cenovus to remove climate-related information from its platforms to avoid penalties. Cenovus stresses that these legislative changes threaten business transparency and climate communication, urging the federal government for clearer guidelines.

Cenovus Energy Inc. (CVE) held its annual meeting of shareholders on May 1, 2024, where various matters were voted on. PricewaterhouseCoopers LLP was reappointed as the auditor, and thirteen nominees proposed by management were elected as directors. The shareholders passed resolutions on executive compensation and the shareholder rights plan. Stephen E. Bradley was welcomed to the Board of Directors, and thanks were extended to Hal Kvisle and Wayne Shaw who did not stand for re-election.

Cenovus Energy Inc. is an integrated energy company focusing on oil and natural gas production in Canada and the Asia Pacific region, with refining and marketing operations in Canada and the United States. The company prioritizes safe, innovative, and cost-efficient asset management while integrating environmental, social, and governance considerations.

Cenovus Energy Inc. (CVE) announces solid Q1 2024 results with production and downstream assets performing well. The company increased its base dividend by 29% and declared a variable dividend. Financially, revenue increased, net earnings rose, and long-term debt decreased. The company achieved targeted credit ratings and progressed on growth projects. Cenovus maintains a strong balance sheet and focuses on shareholder returns.