|Bid||11.95 x 0|
|Ask||11.96 x 0|
|Day's Range||11.87 - 12.10|
|52 Week Range||10.29 - 14.31|
|Beta (5Y Monthly)||1.85|
|PE Ratio (TTM)||6.71|
|Earnings Date||Feb 11, 2020|
|Forward Dividend & Yield||0.25 (2.04%)|
|Ex-Dividend Date||Mar 11, 2020|
|1y Target Est||14.93|
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?
The company produced 467,448 barrels of oil equivalent per day (boe/d) during the quarter, an increase of 8% from a year-ago period when it had restrained production rates. Cenovus took advantage of the Alberta government's special production allowance, which permits additional oil output if it moves by rail. Reduced refining margins show the ripple effects of Alberta's drastic efforts to address the Canadian industry's struggles.
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.
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.
Canada's main stock index rose on Wednesday, boosted by a 3% surge in energy stocks, as sentiment was lifted by reports of drug breakthroughs in treating the fast-spreading coronavirus. * The energy sector was set to post its biggest percentage gain in two months, as oil prices soared on media reports that scientists have developed a drug to treat the disease that has killed 490 people in China. * The largest percentage gainers on the TSX were MEG Energy Corp, which jumped 7.5% and Cenovus Energy, which rose 5.6%.
The commitment towards the six First Nations and Métis communities could be extended to 10 years and result in a total investment of C$100 million, the company said. Alberta this week set up Alberta Indigenous Opportunities Corp to allocate up to C$1 billion to support First Nations that back resource projects, such as oil pipelines. First Nations plays a pivotal role in Canada's oil industry because governments and companies have a legal duty to consult and accommodate them before proceeding with resource projects that affect their territories.
Canada's Cenovus Energy said on Thursday it would invest C$10 million ($7.61 million) annually for a period of five years to help build about 200 homes for indigenous communities near its oil sands operations in the province of Alberta. Alberta this week set up Alberta Indigenous Opportunities Corp to allocate up to C$1 billion to support First Nations that back resource projects, such as oil pipelines. First Nations plays a pivotal role in Canada's oil industry because governments and companies have a legal duty to consult and accommodate them before proceeding with resource projects that affect their territories.
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.
Out of thousands of stocks that are currently traded on the market, it is difficult to identify those that will really generate strong returns. Hedge funds and institutional investors spend millions of dollars on analysts with MBAs and PhDs, who are industry experts and well connected to other industry and media insiders on top of that. Individual investors can piggyback […]
The Alberta-based integrated oil and gas company said it will spend an additional C$1.5 billion on businesses run by the country's indigenous communities. Opposition from environmental and indigenous groups have stalled new pipeline projects in Canada and the United States that are needed to move Canadian crude to refineries. Prime Minister Justin Trudeau, who won a re-election in October last year, promised Canada would achieve net-zero carbon emissions by 2050.
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.
Investors want capital discipline, cleaner balance sheets and better management of cash flow from companies as oil prices remain volatile amid global trade tensions. Alberta, Canada's main oil-producing province, in January ordered curtailments on oil production to deal with pipeline bottlenecks that had led to a glut in crude storage and record price discounts.
CALGARY, Alberta, Dec. 10, 2019 -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) remains committed to delivering increasing shareholder value through cost leadership, capital.
As we already know from media reports and hedge fund investor letters, hedge funds delivered their best returns in a decade. Most investors who decided to stick with hedge funds after a rough 2018 recouped their losses by the end of the third quarter. We get to see hedge funds' thoughts towards the market and […]
While not a mind-blowing move, it is good to see that the Cenovus Energy Inc. (TSE:CVE) share price has gained 12% in...