Cenovus Energy Stock Price, News & Analysis

Cenovus Energy will hold its 2021 Investor Day on December 8, 2021, where it will present its 2022 budget, updated strategy, and a five-year business plan. Additionally, the company will release its 2020 ESG report, outlining new targets in five focus areas, including climate change and greenhouse gas emissions. The event is set for 8 a.m. MT (10 a.m. ET) and will be available via webcast. Interested parties can register here.

Cenovus Energy Inc. (CVE) announced its intention to buy back up to 146.4 million shares over the next year, subject to TSX approval. This normal course issuer bid aligns with their capital allocation strategy, emphasizing shareholder value through cash returns and debt reduction. The buyback represents 10% of the company's public float, with daily purchases limited to 1.4 million shares. Additionally, an automatic share purchase plan has been established to facilitate these transactions during blackout periods.

Cenovus Energy announced a strong financial performance for Q3 2021, with cash from operating activities of $2.1 billion and adjusted funds flow of $2.3 billion. Total upstream production reached 804,800 BOE/d, significantly boosted by record outputs in oil sands. The company reduced net debt to approximately $11 billion and plans to initiate a share buyback of 146.5 million shares, representing 10% of the public float. Additionally, the dividend has been doubled, reflecting confidence in cash flow stability and future growth.

Cenovus Energy Inc. (TSX:CVE) is set to announce its 2021 third quarter results on November 3, 2021. This release will include consolidated operating and financial information. Investors can access the financial statements on the company's website on the same day. A conference call to discuss the results will take place at 9 a.m. MT (11 a.m. ET), with options to listen live via phone or a webcast.

Cenovus Energy Inc. (TSX: CVE) has announced a cash tender offer for up to $1,250,000,000 of its outstanding notes, including 3.800% Notes due 2023, 4.000% Notes due 2024, and 5.375% Notes due 2025. As of September 22, 2021, the tendered notes exceeded the maximum amount, leading to prorated acceptance for the 2025 Notes at about 44.7%. The tender offer will expire on October 6, 2021, and is subject to various conditions. J.P. Morgan, BofA Securities, and MUFG Securities are managing the tender. More details are in the Offer to Purchase.

Cenovus Energy has increased its cash tender offer for certain outstanding notes from $1 billion to $1.25 billion. This includes 3.800% Notes due 2023, 4.000% Notes due 2024, and 5.375% Notes due 2025, among others. Valid tenders by the early tender date exceeded the maximum purchase price, leading Cenovus to anticipate prorated acceptances for certain notes. Investors will receive an early tender payment of $30 per $1,000 of notes accepted, with settlement expected on September 24, 2021. The tender offer will expire on October 6, 2021, unless extended.

Cenovus Energy Inc. (TSX: CVE) announced plans to redeem its 3.950% notes due April 15, 2022, and 3.000% notes due August 15, 2022, on October 20, 2021. The company has issued redemption notices to trustees and will pay the registered holders the redemption price on the specified date. Non-registered holders should contact their respective financial institutions for inquiries. The announcement does not constitute a formal notice of redemption.

Investors are advised that actual results may differ from forward-looking statements due to various risks and uncertainties.

Cenovus Energy announced the expiration of its cash tender offer for two outstanding note series, the 3.950% Notes and 3.000% Notes, on September 15, 2021. A total of $252.644 million of 3.950% Notes and $294.017 million of 3.000% Notes were validly tendered. Holders of the accepted notes will receive $1,021.07 and $1,024.78 per $1,000 principal, respectively, plus accrued interest. The purchase will be funded through proceeds from a recent notes offering and cash on hand, with settlement expected on September 16, 2021.

Cenovus Energy announced the pricing terms for its cash tender offer for all outstanding 3.950% and 3.000% Notes due 2022, totaling $1 billion. The offer expires today, September 15, 2021, at 5:00 p.m. New York City time. Total considerations for each series are detailed in the release, with the 3.950% Notes priced at $1,021.07 and the 3.000% Notes at $1,024.78 per $1,000 principal amount. Holders must comply with tender procedures to receive payment. The announcement serves as informational and not an offer to sell securities.