CVE - Cenovus Energy Inc.
2.8000 +0.04 (1.45%)
After hours: 7:57PM EDT
| Previous Close | 2.9500 |
| Open | 3.0800 |
| Bid | 2.7400 x 3000 |
| Ask | 2.7900 x 28000 |
| Day's Range | 2.6250 - 3.1100 |
| 52 Week Range | 1.4100 - 10.8200 |
| Volume | 20,357,215 |
| Avg. Volume | 8,513,079 |
| Market Cap | 3.384B |
| Beta (5Y Monthly) | 2.79 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -0.4240 |
| Earnings Date | N/A |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | Mar. 11, 2020 |
| 1y Target Est | 10.85 |
- The Canadian Press
Most actively traded companies on the TSX
TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:Toronto Stock Exchange (14,166.63, up 240.92 points.)Bombardier Inc. (TSX:BBD.B). Industrials. Unchanged at 47.5 cents on 24.7 million shares.Cenovus Energy Inc. (TSX:CVE). Energy. Down 25 cents, or 6.08 per cent, to $3.86 on 20.5 million shares.MEG Energy Corp. (TSX:MEG). Energy. Down 28 cents, or 9.24 per cent, to $2.75 on 19.8 million shares.Crescent Point Energy Corp. (TSX:CPG). Energy. Down five cents, or 3.38 per cent to $1.43 on 14.5 million shares.Baytex Energy Corp. (TSX:BTE). Energy. Down 2.5 cents, or 5.88 per cent, to 40 cents on 13.4 million shares.Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Down 37 cents, or 1.93 per cent, to $18.78 on 11.7 million shares.Companies in the news:Alamos Gold Inc. (TSX:AGI). Up 62 cents, or 7.5 per cent, to $8.84. Canadian mining firm Alamos Gold Inc. reports that a group of armed robbers intercepted gold dore bars on the runway at its Mulatos mine site in Mexico, then staged a dramatic escape in a separate light aircraft. In a statement in Spanish, Alamos's Mexican subsidiary Minas de Oro Nacional says five heavily armed people subdued security guards who were loading the bars for transport on a plane on Wednesday morning.Canfor Corp. (TSX:CFP). Up 28 cents, or 3.4 per cent, to $8.45. Forestry company Canfor Corp. is making additional production cuts due to the impact of COVID-19 on the price of lumber and demand. The company says effective Monday that its Canadian lumber production will be curtailed by approximately 100 million board feet through to May 1. The cuts will result in a total production run rate of about 30 per cent as it takes downtime at the majority of its sawmills in B.C.Premier Gold Mines Ltd. (TSX:PG). Up 18 cents, or 12 per cent, to $1.68. Premier Gold Mines Ltd. says an offer made in March to buy Centerra Gold Inc.'s 50-per-cent stake in the Greenstone Gold Mines Partnership for US$205 million has not been accepted. Greenstone's principal asset is the proposed Hardrock Mine project near Geraldton, Ont. Premier, which holds the other 50 per cent stake in the project, had said an unnamed third party would be the actual buyer of the ownership stake, at Premier's option.Canada Goose Holdings Inc. (TSX:GOOS). Up $1.10, or 3.7 per cent, to $30.88. Canada Goose Holdings Inc. is moving to increase its domestic production of personal protective equipment for health-care workers across Canada. The company, best known for its luxury winter parkas, announced plans last month to start production of medical gear at two Canadian factories. It now says it will begin to reopen its other Canadian facilities over the next two weeks to bring all eight of its locations into production. Approximately 150 employees are currently producing equipment but as many as 900 employees will be working when it reaches full capacity.This story by The Canadian Press was first published April 9, 2020.The Canadian Press
- Zacks
Cenovus Energy (CVE) in Focus: Stock Moves 7.3% Higher
Cenovus Energy (CVE) saw a big move last session, as its shares jumped more than 7% on the day, amid huge volumes.
- Zacks
Here's Why You Should Hold on to Cenovus (CVE) Stock Now
Cenovus (CVE) expects to reduce its oil sands operations' sustaining costs to C$2.60 per barrel in 2020.
- The Motley Fool
Mind-Bending Stat Reveals How Bad This 2020 Market Crash Really Is
The warnings of a major global recession are swirling around the world. In Canada, the energy industry is facing its toughest challenge. The dividend-paying Cenovus stock is temporarily suspending payouts to relieve pressure from the company’s cash balance.The post Mind-Bending Stat Reveals How Bad This 2020 Market Crash Really Is appeared first on The Motley Fool Canada.
- Zacks
Implied Volatility Surging for Cenovus (CVE) Stock Options
Investors need to pay close attention to Cenovus (CVE) stock based on the movements in the options market lately.
- Zacks
Cenovus Curbs Capex for 2nd Time, Defers Dividend, Up 23.6%
Cenovus Energy (CVE) expects to reduce its oil sands operations' sustaining costs to C$2.60 per barrel in 2020.
- Zacks
Stock Market News for Apr 3, 2020
Stocks closed higher on Thursday, largely driven by President Donald Trump's tweet about the possibility of a massive reduction in oil production ahead.
- Simply Wall St.
The Consensus EPS Estimates For Cenovus Energy Inc. (TSE:CVE) Just Fell Dramatically
The analysts covering Cenovus Energy Inc. (TSE:CVE) delivered a dose of negativity to shareholders today, by making a...
- Baystreet
Stocks in play: Cenovus Energy Inc.
Is implementing additional measures to enhance its financial resilience in response to the low global ...
- The Canadian Press
Oilpatch workers face pay cuts and layoffs as companies react to low prices
CALGARY — Budget cuts in the western Canadian oil and gas sector are hitting home for front-line workers who are facing smaller paycheques as well as an ever-increasing risk of being laid off.On Thursday, oilsands producer Cenovus Energy Inc. responded to low global oil prices with its second capital spending cut in less than a month, along with the suspension of its quarterly dividend and a five per cent reduction in production guidance for 2020.“We are taking proactive steps to address the current business environment while continuing to focus on the safety of our people and assets and maintaining reliable performance at our operations,” said CEO Alex Pourbaix in a news release.The company announced executive salaries would fall by between 12 and 25 per cent, similar to what many other Canadian companies have implemented in recent weeks.But it added that employees at lower levels will take smaller graduated salary reductions as part of a plan for Cenovus to save $50 million in general and administration costs this year.The current oil price depths — blamed on a combination of lower demand because of the COVID-19 pandemic and a price war between Saudi Arabia and Russia — is reminiscent of 2015, when a crash in global oil prices led to an estimated 40,000 direct job losses from the Canadian upstream oil and gas industry.Salary reductions do seem to be a more common method to control costs in the current environment than in the last downturn, said Carol Howes, vice-president of communications with energy labour data firm PetroLMI."This time we are seeing more effort to reduce salaries and maintain staffing because companies are already very lean," she said.Direct jobs in the oilfield exploration, production, service and pipeline professions peaked at about 225,900 in 2014 but fell to a low of 173,400 in July 2016, she said.Only 5,000 net jobs have been added since then, taking the jobs number in January to 178,400, she said.As is usually the case, the current downturn has hit the Calgary-based oilfield services sector hardest — the Canadian Association of Oilwell Drilling Contractors estimates its members have slashed their workforces by between 20 and 50 per cent this year.On Thursday, STEP Energy Services Ltd. announced it would cut its 2020 capital program by 50 per cent to $23.5 million, while also trimming 50 per cent from administrative costs through a combination of unspecified job reductions and company-wide salary rollbacks of between five and 10 per cent.Late last week, Calfrac Well Services Ltd. announced it would cut its 2020 capital budget to $100 million from $155 million.The company, which provides hydraulic fracturing or "fracking" and other well completion services in Canada, the U.S., Argentina and Russia, said it would reduce the number of crews being deployed in its North American operations from 19 to nine, resulting in a 40 per cent downsizing of its workforce in the U.S. and Canada.It also announced executive salaries would be reduced by 10 per cent and remaining employees' pay cut by five to 10 per cent. It added it would also eliminate retirement savings matching contributions."In April and May of 2016, we saw active rig counts of 35 and 36 rigs respectively, so at 37 today, we are nearing the lows of the (previous) downturn," said John Bayko, vice-president of communications for the CAODC."Back in 2016, however, commodity pricing was based on more normal variables and not the rare combination of a price war and demand shock that we see today. For that reason, it's hard to predict what a recovery could look like, and whether the summer drilling season will be lost."The Canadian Association of Petroleum Producers estimates that the direct plus indirect job count in the upstream oil and gas sector fell from 744,000 in 2014 to 495,000 in 2016 before rising to 528,000 in 2017, the last year for which it has statistics.CAPP's forecast last year of slightly higher spending in conventional oil and gas and the oilsands in 2020 compared to 2019 is no longer valid, said Ben Brunnen, CAPP's vice-president of oilsands, fiscal and economic policy, on Thursday.Canadian producers announced more than $6 billion in capital expenditure cuts in March, he estimated, reducing their capital spending programs by an average of about 30 per cent."The Canadian oil and natural gas industry is accustomed to the rise and fall of global market conditions and in the past we were better positioned to deal with it," he said.Factors including delayed or cancelled export pipeline projects, stagnant commodity prices and recent railroad blockades have made the industry less able to attract investment and less resilient in the face of the current price crisis, he said.CAPP CEO Tim McMillan said the organization is working with federal and provincial governments to find ways to support energy industry employees.This report by The Canadian Press was first published April 2, 2020.Companies in this story: (TSX:CVE, TSX:CFW, TSX:STEP)Dan Healing, The Canadian PressNote to readers: This is a corrected story. In a previous version, the 10th graf said February instead of January.
- GlobeNewswire
Cenovus Energy provides corporate update
Cenovus Energy Inc. (CVE.TO) (CVE.TO) is implementing additional measures to enhance its financial resilience in response to the low global oil price environment that is expected to continue for an unknown period. Cenovus has decided to reduce its planned 2020 capital spending by an additional $150 million which, combined with the $450 million reduction announced March 9, 2020, is a $600 million decrease from the budget released in December. The company is also forecasting operating cost reductions of about $100 million and general and administrative (G&A) cost reductions of about $50 million compared with the initial December budget.
- The Motley Fool
Watch Out, Energy Investors: The Oil Apocalypse Has Arrived
The oil price collapse makes it essential to avoid heavily indebted oil sands operators like Cenovus Energy Inc. (TSX:CVE)(NYSE:CVE).The post Watch Out, Energy Investors: The Oil Apocalypse Has Arrived appeared first on The Motley Fool Canada.
- The Motley Fool
2 Attractive Dividend Yielding Companies That Might Turn Out to Be Quicksand
Here's why you need to avoid energy stocks, such as Husky Energy, that may be a value trap rather than a contrarian buy. The post 2 Attractive Dividend Yielding Companies That Might Turn Out to Be Quicksand appeared first on The Motley Fool Canada.
- The Motley Fool
TSX Stocks: 2 Canadian Titans That Fell 80% in COVID-19 Crash
Are these top TSX stocks attractive after a massive 80% crash? Only if you are brave enough to handle the super-high risk. The post TSX Stocks: 2 Canadian Titans That Fell 80% in COVID-19 Crash appeared first on The Motley Fool Canada.
- The Motley Fool
Market Crash 2020: 2 Stocks Near Their 52-Week Lows
This market crash has sent Cenovus Energy Inc (TSX:CVE)(NYSE:CVE) to a new all-time low, but that may not be enough to make the stock a buy.The post Market Crash 2020: 2 Stocks Near Their 52-Week Lows appeared first on The Motley Fool Canada.
- The Motley Fool
Canada’s Oil Crisis Worsens
The latest oil price collapse makes now the time to avoid Baytex Energy Corp. (TSX:BTE)(NYSE:BTE) and Cenovus Energy Inc. (TSX:CVE)(NYSE:CVE).The post Canada’s Oil Crisis Worsens appeared first on The Motley Fool Canada.
- The Motley Fool
These 2 Stocks Have Lost 3/4 of Their Value in a Month: Time To Buy?
Is now the time to buy these heavily discounted energy stocks- Cenovus Energy Inc. (TSX:CVE)(NYSE:CVE) and Vermilion Energy (TSX:VET)(NYSE:VET)?The post These 2 Stocks Have Lost 3/4 of Their Value in a Month: Time To Buy? appeared first on The Motley Fool Canada.
- GlobeNewswire
Cenovus changes Annual Meeting of Shareholders to virtual webcast
Cenovus Energy Inc. (CVE.TO) (CVE.TO) announced today that its upcoming Annual Meeting of Shareholders (Shareholders Meeting) will now be held in a virtual only format. The Shareholders Meeting will be held at the originally scheduled date and time, on April 29, 2020 at 1:00 p.m. Mountain Time (MT), however, it will now be conducted in a format whereby registered shareholders and duly appointed proxyholders may only attend and participate in the meeting virtually via live audio webcast. The timing and process for voting by proxy remains unchanged; shareholders are reminded that completed proxy forms must be received no later than 1:00 p.m. MT on April 27, 2020.
- The Motley Fool
3 Dirt-Cheap Penny Stocks Trading Under $5
Now is the time to add seriously cheap penny stocks like Extendicare (TSX:EXE) and Cenovus Energy (TSX:CVE)(NYSE:CVE) to your portfolio. The post 3 Dirt-Cheap Penny Stocks Trading Under $5 appeared first on The Motley Fool Canada.
- The Motley Fool
Market Crash Report: 3 Stocks Hitting 52-Week Lows to Pounce On
Hunting for a bargain? This group of beaten-down stocks, including Canadian Natural Resources (TSX:CNQ)(NYSE:CNQ), might provide the value you're looking for. The post Market Crash Report: 3 Stocks Hitting 52-Week Lows to Pounce On appeared first on The Motley Fool Canada.
- The Motley Fool
TFSA Investors: 2 Dividend Stocks That Could Cut Their Payouts After the Market Crash
Vermilion Energy (TSX:VET)(NYSE:VET) recently announced a cut to its dividend, but there could be more to come.The post TFSA Investors: 2 Dividend Stocks That Could Cut Their Payouts After the Market Crash appeared first on The Motley Fool Canada.
- Zacks
Oil & Gas Stock Roundup: Capex & Dividend Cuts Continue in the Hard-Hit Sector
In order to cope with the downward spiral in oil prices, the likes of Occidental Petroleum (OXY) and Apache (APA) slashed their dividend payouts.
