Welcome to our dedicated page for Cenovus Energy news (Ticker: CVE), a resource for investors and traders seeking the latest updates and insights on Cenovus Energy stock.
Cenovus Energy Inc. reports news about its integrated oil and gas operations, including production in Canada and the Asia Pacific region and upgrading, refining and marketing activities in Canada and the United States. Company updates commonly address oil sands, conventional and offshore production, downstream crude throughput, capital budgets, corporate guidance and operating results.
Recurring developments for CVE also include shareholder meeting results, auditor and director votes, dividend and preferred-share matters, senior note offerings, debt redemptions and other capital-structure actions tied to the company’s common shares listed on the Toronto and New York stock exchanges.
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.
Cenovus Energy (TSX: CVE) (NYSE: CVE) announced the redemption of all 10 million outstanding 4.689% Series 3 Preferred Shares on December 31, 2024. The redemption price is set at $25.00 per share, totaling $250 million, funded primarily from cash on hand. A final quarterly dividend of $0.29306 per Series 3 Preferred Share will be paid on December 31, 2024, to shareholders of record as of December 13, 2024.
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.