CVE.TO - Cenovus Energy Inc.

Toronto - Toronto Delayed Price. Currency in CAD
11.35
+0.06 (+0.53%)
At close: 4:00PM EDT
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Previous Close11.29
Open11.28
Bid11.34 x 0
Ask11.35 x 0
Day's Range11.26 - 11.51
52 Week Range8.74 - 14.31
Volume2,131,823
Avg. Volume3,167,915
Market Cap13.947B
Beta (3Y Monthly)2.19
PE Ratio (TTM)46.90
EPS (TTM)0.24
Earnings DateOct. 31, 2019
Forward Dividend & Yield0.25 (2.21%)
Ex-Dividend Date2019-09-12
1y Target Est14.95
  • TFSA Investors Beware: Oil Stock Dividends Set Up to Fail!
    The Motley Fool

    TFSA Investors Beware: Oil Stock Dividends Set Up to Fail!

    Now that Canada has renewed sanctions against Iran, reviving oil companies like Cenovus Energy (TSX:CVE)(NYSE:CVE) are promising dividend growth.

  • Calculating The Fair Value Of Cenovus Energy Inc. (TSE:CVE)
    Simply Wall St.

    Calculating The Fair Value Of Cenovus Energy Inc. (TSE:CVE)

    Does the October share price for Cenovus Energy Inc. (TSE:CVE) reflect what it's really worth? Today, we will estimate...

  • Which of These 2 Energy Stocks Is Right for You?
    The Motley Fool

    Which of These 2 Energy Stocks Is Right for You?

    The market is rich for oil and gas marketing and refining companies right now. But do you buy Cenovus Energy Inc (TSX:CVE)(NYSE:CVE), up 23% so far in 2019, or its 5.52%-yielding rival?

  • An Oversold Energy Stock to Buy Now
    The Motley Fool

    An Oversold Energy Stock to Buy Now

    Cenovus Energy Inc. (TSX:CVE)(NYSE:CVE) has become a cash flow machine with a 15% free cash flow yield and an oversold stock that is ready to break out.

  • Cenovus Energy (TSX:CVE) Turns Into a Dividend-Growth Stock: Time to Buy?
    The Motley Fool

    Cenovus Energy (TSX:CVE) Turns Into a Dividend-Growth Stock: Time to Buy?

    Will Cenovus Energy Inc.'s (TSX:CVE)(NYSE:CVE) latest dividend increase turn investors' heads and make the stock a buy today?

  • Cenovus (TSX:CVE): Time to Finally Buy the Stock?
    The Motley Fool

    Cenovus (TSX:CVE): Time to Finally Buy the Stock?

    Cenovus Inc. (TSX:CVE) (NYSE:CVE) just raised its dividend by 25%!

  • Baystreet

    Stocks in play: Cenovus Energy Inc.

    Announced its updated corporate strategy and five-year business plan. Building on the company’s excellent ...

  • Cenovus raises dividend, plans modest growth, as CEO heralds debt reduction
    The Canadian Press

    Cenovus raises dividend, plans modest growth, as CEO heralds debt reduction

    CALGARY — Oilsands producer Cenovus Energy Inc. is rewarding its shareholders with a 25 per cent increase in its dividend while tightening its spending plans and maintaining "modest" production growth expectations over the next five years.On a webcast from the company's investor day in Toronto, CEO Alex Pourbaix said Cenovus faced "its fair share of challenges" when he was appointed about two years ago but his focus on strengthening the balance sheet is beginning to pay off."It really is timely to have an investor day right now because I think we are at the point where we, as a management team, feel that we are turning the corner and we can now start focusing on something a little beyond what's right in front of our face," Pourbaix said.The Calgary-based company announced it will pay a quarterly dividend of 6.25 cents per share, up from a nickel, which will deliver an annual yield of nearly 2.1 per cent based on the company's closing share price of $12.05 on Tuesday.Cenovus will be able to make further dividend increases of five to 10 per cent annually even if benchmark U.S. oil prices fall to US$45 per barrel, Pourbaix said.The company signalled it will also consider share buybacks after it reduces its net debt to $5 billion, a target it expects to reach in the next 12 to 18 months if commodity prices are stable. Two years ago, total debt was about $12 billion.The increased payment to shareholders came as Cenovus trimmed its capital spending plan for 2019 to between $1.1 billion and $1.2 billion, a $150-million reduction from the midpoint of its April forecast.It said it plans to grow production by two to three per cent per year over the next five years to increase total volumes to about 550,000 barrels of oil equivalent per day by the end of 2024.Pourbaix acknowledged theenergy industry is under "scrutiny" as the issue of fighting climate change gains momentum around the world.But Pourbaix said oil demand growth is expected to continue and said it's better for that oil to come from Canada than from less responsible countries."As Canadians, I would argue we should view it not only as an opportunity but rather as an obligation to produce high-ESG (environmental, social and governance rated) Canadian oil, so that they can displace lower-ESG content barrels," he said.Last Friday, hundreds of thousands of people around the world inspired by the environmental activism of 16-year-old Greta Thunberg of Sweden marched in climate strikes to demand that governments do more to meet their greenhouse gas emission reduction targets and head off global warming.In early reports, analysts were generally positive if not surprised about Cenovus' dividend increase and its growth and spending prospects.They applauded the company's announcement of having secured an additional 22,500 barrels per day of pipeline transport to the U.S. Gulf Coast, noting it likely came through bidding for 50,000 bpd of added incremental capacity on the existing Keystone mainline.The company said the additional space brings its combined current firm pipeline capacity to the U.S. Gulf Coast, the U.S. Midwest and the Canadian West Coast to more than 133,000 bpd.It added that it is on track to ramp up its crude-by-rail capacity to about 100,000 bpd by the end of 2019. This report by The Canadian Press was first published Oct. 2, 2019.Companies in this story: (TSX:CVE)Dan Healing, The Canadian Press

  • GlobeNewswire

    Cenovus positioned for $11 billion of cumulative free funds flow through 2024

    Cenovus Energy Inc. (CVE.TO) (CVE.TO) today announced its updated corporate strategy and five-year business plan. Building on the company’s excellent financial performance in the first half of 2019, Cenovus’s strategy through 2024 will focus on sustainably growing shareholder returns and further reducing net debt. The five-year business plan allows for disciplined production growth at Cenovus’s best-in-class oil sands assets, subject to improved market access, and provides potential for cumulative free funds flow of approximately $11 billion at mid-cycle West Texas Intermediate (WTI) prices averaging between US$57 and US$60 per barrel (bbl).

  • GlobeNewswire

    Cenovus to webcast Investor Day 2019

    CALGARY, Alberta, Sept. 25, 2019 -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) will hold its 2019 Investor Day in Toronto on Wednesday, October 2, 2019 with presentations.

  • How TFSA Investors Can Build Massive Wealth
    The Motley Fool

    How TFSA Investors Can Build Massive Wealth

    Cenovus Energy Inc. (TSX:CVE)(NYSE:CVE) and AltaGas Ltd. (TSX:ALA) both have strong businesses that the market is not paying an adequate price for. Recent company developments tell me that the time is coming for these undervalued energy stocks.

  • Whiplash! Why Energy Stocks Went Crazy This Week
    The Motley Fool

    Whiplash! Why Energy Stocks Went Crazy This Week

    Stocks like Cenovus Energy Inc. (TSX:CVE)(NYSE:CVE) surged after oil posted its largest one-day surge in decades to start the week.

  • Baystreet

    Equities Rally to Another Peak

    Equity markets in Canada opened at another record high in a broad-based rally on Friday, with energy ...

  • Alert: 3 Canadian Energy Stocks to Buy on the Saudi Oil Supply Shock
    The Motley Fool

    Alert: 3 Canadian Energy Stocks to Buy on the Saudi Oil Supply Shock

    Why Cenovus Energy Inc. (TSX:CVE)(NYSE:CVE) and two other energy stocks may be strong buys after the recent oil shock.