Cenovus Energy Inc. (CVE) Q4 2024 Earnings Call Transcript
- Cenovus Energy Inc. (NYSE:CVE ) Q4 2024 Earnings Conference Call February 20, 2025 11:00 AM ET Company Participants Patrick Read - VP, IR Jon McKenzie - CEO Kam Sandhar - EVP, Strategy and Corporate Development Keith Chiasson - EVP, Downstream Geoff Murray - EVP, Commercial Conference Call Participants Menno Hulshof - TD Securities Dennis Fong - CIBC World Market Greg Pardy - RBC Capital Markets, Philippines Neil Mehta - Goldman Sachs John Royall - JPMorgan Dennis Fong - CIBC World Markets Manav Gupta - UBS Chris Barko - Calgary Herald Operator Good morning, ladies and gentlemen. Welcome to Cenovus Energy's Fourth Quarter and Full Year 2024 Results Conference Call.
- 02/20/2025
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Cenovus Energy (CVE) Q4 Earnings and Revenues Lag Estimates
- Cenovus Energy (CVE) came out with quarterly earnings of $0.05 per share, missing the Zacks Consensus Estimate of $0.18 per share. This compares to earnings of $0.29 per share a year ago.
- 02/20/2025
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Canada's Cenovus Energy quarterly profit falls on weak oil prices
- Canadian oil and gas producer Cenovus Energy posted a fall in fourth-quarter profit on Thursday, as lower commodity prices and weak refining margins offset higher production.
- 02/20/2025
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Cenovus Announces Fourth-Quarter and Full-Year 2024 Results
- CALGARY, Alberta, Feb. 20, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced its fourth-quarter and full-year 2024 financial and operating results. In the quarter, the company generated over $2.0 billion in cash from operating activities, $1.6 billion of adjusted funds flow and $123 million of free funds flow. The Upstream business continued to deliver strong performance, with production of 816,000 barrels of oil equivalent per day (BOE/d)1 in the quarter, including a new quarterly Oil Sands production record of 628,500 BOE/d. In the Downstream, total crude throughput increased by almost 24,000 barrels per day (bbls/d) from the previous quarter to 666,700 bbls/d, representing an aggregate utilization rate of 93%.
- 02/20/2025
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Stay Ahead of the Game With Cenovus (CVE) Q4 Earnings: Wall Street's Insights on Key Metrics
- Evaluate the expected performance of Cenovus (CVE) for the quarter ended December 2024, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.
- 02/19/2025
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Wall Street's Insights Into Key Metrics Ahead of Cenovus (CVE) Q4 Earnings
- Besides Wall Street's top -and-bottom-line estimates for Cenovus (CVE), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended December 2024.
- 02/17/2025
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Curious about Cenovus (CVE) Q4 Performance? Explore Wall Street Estimates for Key Metrics
- Get a deeper insight into the potential performance of Cenovus (CVE) for the quarter ended December 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.
- 02/14/2025
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Cenovus to hold fourth-quarter and full-year conference call and webcast on February 20
- CALGARY, Alberta, Feb. 13, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) will release its fourth-quarter and full-year 2024 results on Thursday, February 20, 2025. The news release will provide consolidated fourth-quarter operating and financial information. The company's financial statements will be available on Cenovus's website, cenovus.com.
- 02/13/2025
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Earnings Preview: Cenovus Energy (CVE) Q4 Earnings Expected to Decline
- Cenovus (CVE) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
- 02/13/2025
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Cenovus Energy (CVE) Beats Stock Market Upswing: What Investors Need to Know
- In the closing of the recent trading day, Cenovus Energy (CVE) stood at $15.50, denoting a +1.97% change from the preceding trading day.
- 02/11/2025
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Cenovus Energy (CVE) Rises Higher Than Market: Key Facts
- In the latest trading session, Cenovus Energy (CVE) closed at $15.06, marking a +0.53% move from the previous day.
- 02/05/2025
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Cenovus Energy: Tariff Fears Are Overblown, Loading Up On This Gem
- Cenovus Energy's integrated upstream and downstream operations ensure resilience against market volatility, leading to strong cash flows and consistent financial results. The market is overestimating potential tariffs from the Trump administration, creating a near once-in-a-lifetime buying opportunity for this high-quality business. CVE's oil sands assets have low operating costs and industry-leading efficiency, promising significant capital returns and a sustainable dividend yield of 3.94%.
- 01/23/2025
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Buy The Drop On These Amazing Dividend Bargains
- There is always something on sale, with now being a good time to pick up select names in the energy sector for high yields and value. Cenovus Energy is a Canadian oil and gas giant with integrated operations, offering strong cash flows, disciplined capital allocation, and robust capital returns to shareholders. Plains All American is a large midstream company with extensive infrastructure, strong operational efficiencies, and high yields, benefiting from growth in Permian Basin volumes.
- 12/31/2024
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New Strong Sell Stocks for November 19th
- FRO, DHT and CVE have been added to the Zacks Rank #5 (Strong Sell) List on November 19, 2024.
- 12/19/2024
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Cenovus Energy Outlines 2025 Growth Plan With $5 Billion Budget
- CVE reveals its 2025 plan with up to $5 billion in investments, growth in upstream and downstream operations, key project advancements and enhanced shareholder returns.
- 12/13/2024
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Cenovus announces 2025 capital budget and corporate guidance
- CALGARY, Alberta, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced its 2025 corporate guidance, which includes capital investment of $4.6 billion to $5.0 billion, delivering upstream production of 805,000 barrels of oil equivalent per day (BOE/d) to 845,000 BOE/d and downstream crude unit utilization of 90% to 95%. Capital investment in 2025 will include about $3.2 billion of sustaining capital to maintain base production and support continued safe and reliable operations, with an additional $1.4 billion to $1.8 billion directed towards advancing the company's upstream growth projects. Cenovus's disciplined capital plan and strong emphasis on cost control will support continued returns to shareholders of 100% of excess free funds flow (EFFF) over time while maintaining net debt near $4.0 billion.
- 12/12/2024
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Cenovus Energy: Well-Positioned For Strong Capital Returns
- Cenovus Energy offers a compelling value and income growth opportunity, trading near its 52-week low with a forward P/E of 10.5. CVE's integrated operations, disciplined capital allocation, and strong balance sheet underpin its appeal, with plans to return excess free cash flow to shareholders. Significant production ramp-ups from projects like Christina Lake and West White Rose position CVE for long-term growth despite near-term headwinds from lower commodity prices.
- 12/05/2024
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Cenovus Energy: Even More Attractive
- Cenovus Energy's shares have declined, but the company is ramping up cash returns to shareholders, leading to a fast-growing shareholder yield. A favorable US administration, undemanding valuation, and positive business growth outlook make Cenovus Energy an attractive investment. Cenovus generated strong cash flows despite low oil prices, with a 25% operating cash flow yield and an 8x free cash flow multiple.
- 12/03/2024
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Cenovus Energy announces redemption of Series 3 Preferred Shares
- CALGARY, Alberta, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (“Cenovus” or the “Company”) (TSX: CVE) (NYSE: CVE) announced today it will exercise its right to redeem the Company's 4.689% Series 3 Preferred Shares (the “Series 3 Preferred Shares”) on December 31, 2024 (the “Redemption”). All 10 million Series 3 Preferred Shares outstanding will be redeemed at the price of $25.00 per share, for an aggregate amount payable to holders of $250 million, less required withholdings, if any, funded primarily from cash on hand.
- 11/25/2024
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Cenovus: Record Valuation Discount Could Set Up Strong Returns
- Cenovus delivered a solid Q3 with upstream production above expectations as the turnaround at Christina Lake was finished ahead of time. Downstream remains a drag on group performance, yet management is actively adressing challenges, with key work at its Lima refinery done during the turnaround and feedstock cost effects likely easing. With relative valuation at its lowest in several years, we reiterate shares at Overweight and a ~84% upside to our US$30/sh price target.
- 11/20/2024
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3 Under-the-Radar Oil Stocks to Keep Your Eye On
- A second Trump administration is likely to affect most, if not all, corners of the stock market, there are few areas expected to be impacted as significantly as the energy sector.
- 11/19/2024
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Cenovus Energy announces renewal of share buyback program
- CALGARY, Alberta, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced today that the Toronto Stock Exchange (“TSX”) has approved the renewal of the company's normal course issuer bid (“NCIB”) to purchase up to 127,489,549 common shares during the 12-month period commencing November 11, 2024 and ending November 10, 2025.
- 11/07/2024
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Cenovus Energy: The Optimization Continues
- Cenovus Energy should perform better as an integrated company than it did in the past when the business was mostly upstream during cyclical downturns. Earnings showed improvement over the past. The progress will become significant to the market. Heavy Oil and Oil Sands offer the most significant cost reduction potential.
- 11/01/2024
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Cash-Flow Gusher: Why Cenovus Remains One Of My Favorite Energy Plays
- Canada's rich reserves and export growth make Cenovus Energy a compelling dividend stock, especially with rising U.S. demand and expanded access to Asian markets. Cenovus' integration of upstream and downstream assets strengthens its profitability. Strategic pipelines and refinery access further boost its long-term value. With steady cash flow, a solid balance sheet, and aggressive shareholder returns, CVE is well-positioned for growth, making it a key pick for dividend income.
- 11/01/2024
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Cenovus Energy Q3 Earnings Miss Estimates on Lower Production
- CVE's Q3 earnings lag estimates but revenues beat the same. Both the top and bottom lines decrease year over year.
- 11/01/2024
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Cenovus Energy Inc. (CVE) Q3 2024 Earnings Conference Call Transcript
- Cenovus Energy Inc. (NYSE:CVE ) Q3 2024 Earnings Conference Call October 31, 2024 10:00 AM ET Company Participants Patrick Read - VP, IR Jon McKenzie - CEO Kam Sandhar - EVP, Strategy and Corporate Development Keith Chiasson - EVP, Downstream Geoff Murray - EVP, Commercial Conference Call Participants Dennis Fong - CIBC World Markets Greg Pardy - RBC Capital Markets John Royall - JPMorgan Menno Hulshof - TD Securities Neil Mehta - Goldman Sachs Manav Gupta - UBS Travis Wood - National Bank Financial Patrick O'Rourke - ATB Capital Markets Operator Good morning, ladies and gentlemen. Welcome to Cenovus Energy's Third Quarter Results Conference Call.
- 10/31/2024
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Cenovus Energy (CVE) Misses Q3 Earnings Estimates
- Cenovus Energy (CVE) came out with quarterly earnings of $0.31 per share, missing the Zacks Consensus Estimate of $0.34 per share. This compares to earnings of $0.72 per share a year ago.
- 10/31/2024
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Cenovus announces third quarter 2024 results
- CALGARY, Alberta, Oct. 31, 2024 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced its financial and operating results for the third quarter of 2024. The company generated nearly $2.5 billion in cash from operating activities, $2.0 billion of adjusted funds flow and $614 million of free funds flow in the quarter. Upstream production of more than 771,000 barrels of oil equivalent per day (BOE/d)1 was slightly lower compared with the second quarter primarily because of turnaround activity at the Christina Lake oil sands facility. Turnaround impacts to production were lower than forecast, as Christina Lake completed its turnaround ahead of schedule. In the downstream, total throughput increased by about 20,000 barrels per day (bbls/d) from the second quarter to almost 643,000 bbls/d, and a major turnaround was successfully completed at the Lima Refinery.
- 10/31/2024
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Analysts Estimate Cenovus Energy (CVE) to Report a Decline in Earnings: What to Look Out for
- Cenovus (CVE) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
- 10/24/2024
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Cenovus to hold third-quarter conference call and webcast on October 31
- CALGARY, Alberta, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will release its third-quarter 2024 results on Thursday, October 31. The news release will provide consolidated third-quarter operating and financial information. The company's financial statements will be available on Cenovus's website, cenovus.com.
- 10/24/2024
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New Strong Sell Stocks for October 18th
- CVE, AGCO and KD have been added to the Zacks Rank #24 (Strong Sell) List on October 18, 2024.
- 10/18/2024
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Analysts identify attractively priced oil levered companies amid Middle East tensions
- Amid geopolitical tensions in the Middle East, Jefferies analysts have highlighted oil levered companies that have underperformed, and therefore are attractively priced. In recent developments, Iran launched an estimated 181 ballistic missiles at Israel last Tuesday, prompting speculation about the potential consequences, with expectations that Israel will respond.
- 10/07/2024
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Cenovus Energy Will Shine In Any Bear Market
- Cenovus Energy has been an integrated producer for a short time. But it has a growth story that goes back a decade. Both stories should result in a higher valuation. The company's strategic cost-cutting and optimization efforts continue to bear positive results, which enhances the growth story. Cenovus Energy should perform better in a cyclical downturn as an integrated company than it did as a thermal upstream producer (subject to the thermal discount enlarging).
- 09/29/2024
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US-based Cenovus refinery to pay penalty for violating emissions rules
- A U.S.-based refinery owned by Canada's Cenovus Energy will pay a $19 million penalty and spend an estimated $150 million in capital investments after violating emissions rules, U.S. authorities said on Friday.
- 09/27/2024
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Why Cenovus Energy (CVE) Dipped More Than Broader Market Today
- Cenovus Energy (CVE) concluded the recent trading session at $17.11, signifying a -0.64% move from its prior day's close.
- 09/20/2024
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Cenovus Energy (CVE) Stock Sinks As Market Gains: Here's Why
- In the latest trading session, Cenovus Energy (CVE) closed at $16.20, marking a -0.25% move from the previous day.
- 09/13/2024
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Cenovus Energy: Once More, But With Feeling
- Cenovus Energy's stock has seen no price returns since July 2023, but this presents a buying opportunity due to its compelling valuation. Despite a production beat, Q2 2024 results missed AFFO expectations due to poor refining margins. The net debt target is in the rearview mirror, and big buybacks are right ahead.
- 09/06/2024
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Cenovus (CVE) Q2 Earnings Lag Estimates on Higher Expenses
- A decline in production in the Canadian Manufacturing Unit and higher expenses hurt Cenovus' (CVE) Q2 earnings.
- 08/09/2024
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Cenovus Energy: One Of My Best Ideas In Oil & Gas
- Hedge funds have turned bearish on commodities, similar to 2016. Concerns about China's growth and supply issues are affecting the market. Despite the bearish outlook, there's potential in Canadian energy stocks like Cenovus, which boasts strong assets and a commitment to returning cash to shareholders. Cenovus, with low costs and long reserves, is undervalued. Its focus on debt reduction and generous dividends makes it an attractive investment opportunity.
- 08/04/2024
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Cenovus Energy Inc. (CVE) Q2 2024 Earnings Call Transcript
- Cenovus Energy Inc. (NYSE:CVE ) Q2 2024 Earnings Conference Call August 1, 2024 11:00 AM ET Company Participants Patrick Read - Vice President, Investor Relations Jon McKenzie - Chief Executive Officer Keith Chiasson - Executive Vice President, Downstream Geoff Murray - Executive Vice-President, Commercial Kam Sandhar - Executive Vice President, Strategy and Corporate Development Jeff Lawson - Senior Vice-President, Corporate Development and Acting Chief Sustainability Officer Conference Call Participants Neil Mehta - Goldman Sachs Greg Pardy - RBC Dennis Fong - CIBC World Markets Menno Hulshof - TD Cowen John Royall - JPMorgan Manav Gupta - UBS Patrick O'Rourke - ATB Markets Harry Mateer - Barclays Alex Bill - allNewfoundlandLabrador Emma Graney - The Globe and Mail Chris Varcoe - Calgary Herald Robert Tuttle - Bloomberg News Operator Good day, ladies and gentlemen, and thank you for standing by. Welcome to Cenovus Energy's Second Quarter Results.
- 08/02/2024
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Cenovus Energy: Net Debt Target Bullseye So Here Comes The Cash
- Cenovus Energy hit the net debt target in July. Cenovus Energy to direct 100% of excess free cash flow to shareholder returns beginning with the third quarter. That is a whole lot more money available to shareholder returns. Cenovus needs a history as an integrated company with optimized acquisitions.
- 08/01/2024
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Cenovus Energy (CVE) Lags Q2 Earnings Estimates
- Cenovus Energy (CVE) came out with quarterly earnings of $0.39 per share, missing the Zacks Consensus Estimate of $0.52 per share. This compares to earnings of $0.33 per share a year ago.
- 08/01/2024
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Canada's Cenovus Energy posts higher second-quarter profit estimates
- Cenovus Energy posted a rise in second-quarter profit on Thursday, as the Canadian oil and gas company benefited from higher throughput volumes and an increase in production.
- 08/01/2024
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Cenovus announces second quarter 2024 results
- CALGARY, Alberta, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) delivered strong operational performance across its portfolio in the second quarter of 2024, with solid production from its upstream assets and improved crude throughput at the company's U.S. refineries, which operated at an overall utilization rate of 93%. Net debt was $4.26 billion at June 30, 2024, and in July the company achieved its net debt target of $4.0 billion. As a result, beginning in the third quarter, Cenovus will begin returning 100% of excess free funds flow (EFFF) to shareholders, as per the company's shareholder returns framework.
- 08/01/2024
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Cenovus to hold second-quarter conference call and webcast on August 1
- CALGARY, Alberta, July 25, 2024 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will release its second-quarter 2024 results on Thursday, August 1. The news release will provide consolidated second-quarter operating and financial information. The company's financial statements will be available on Cenovus's website, cenovus.com.
- 07/25/2024
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Cenovus Energy (CVE) Earnings Expected to Grow: Should You Buy?
- Cenovus (CVE) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
- 07/25/2024
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7 Oil Stocks to Buy as Political Forces Collide
- The world runs on oil. Given the scientific advantages of fossil fuels – namely their immense energy density – it's likely that the world will run on oil for a longer time than pundits are expecting.
- 07/23/2024
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3 Nuclear Fusion Stocks Energizing the Future
- At the moment, the concept of nuclear fusion stocks – or at least the pure-play version – doesn't quite exist. But that doesn't mean you can't position your portfolio to take advantage of the underlying innovation.
- 07/21/2024
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Cenovus Energy (CVE) Could Be a Great Choice
- Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Cenovus Energy (CVE) have what it takes?
- 07/17/2024
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Cenovus Energy (CVE) Demobilizes Workers Over Wildfire Risks
- Cenovus Energy (CVE) states that its operations remain unaffected at the Sunrise facility, although it is demobilizing staff that is not directly involved in operations.
- 07/10/2024
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Top Growth And Dividend Long-Term Stocks For Mid-Year 2024
- The Top Dividend Growth stock model aims to deliver optimal total return with reliable growth factors and high dividends for higher profitability long-term. Only one stock of the 15 largest Mega Cap stocks with +61.5% YTD returns offers a dividend yield above 2%, impacting total return and growth factors. Since 2020 inception, the Growth & Dividend portfolio model has delivered +15.28% average returns and compounded returns of +103.66%, well above the S&P 500.
- 06/30/2024
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Wind River Becomes a CVE Numbering Authority and Continues to Build on Its Commitment to Security
- ALAMEDA, Calif.--(BUSINESS WIRE)-- #CVE--Wind River®, a global leader in delivering software for mission-critical intelligent systems, today announced that it has been authorized by the Common Vulnerabilities and Exposures (CVE) Program as a CVE Numbering Authority (CNA). Wind River now joins the mission of the CVE Program to identify, define, and catalog publicly disclosed cybersecurity vulnerabilities. “As industries transform toward a more connected and intelligent world, the threat landscape is ra.
- 06/25/2024
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Competition Act amendments silence Canadian businesses taking climate action
- CALGARY, Alberta, June 20, 2024 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE), as a member of Pathways Alliance, today issued the following statement with respect to the Canadian government's Bill C-59.
- 06/20/2024
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Cenovus Energy: Doubts Creep In
- The stock price took years to respond to the profitability improvements made after the acquisition of the ConocoPhillips Partnership interest. It is therefore not surprising that the stock has not responded to more cash available to return to shareholders in the near future, even after the 29% dividend increase. The refining business should show profitability growth both this fiscal year and for at least a couple more years.
- 06/16/2024
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Why Cenovus Energy (CVE) is a Great Dividend Stock Right Now
- Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Cenovus Energy (CVE) have what it takes?
- 06/13/2024
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Cenovus Energy (CVE) Stock Slides as Market Rises: Facts to Know Before You Trade
- In the closing of the recent trading day, Cenovus Energy (CVE) stood at $19.17, denoting a -0.57% change from the preceding trading day.
- 06/12/2024
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The Negativity Toward Cenovus Energy Is Overdone
- Cenovus Energy Inc. has underperformed its peers. We expect near-term catalysts to improve sentiment and push Cenovus Energy shares higher over the coming months. Longer-term gains will come from the company's powerful economic model and higher oil prices.
- 06/12/2024
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Cenovus Energy (CVE) Sees a More Significant Dip Than Broader Market: Some Facts to Know
- Cenovus Energy (CVE) closed at $19.06 in the latest trading session, marking a -0.31% move from the prior day.
- 06/06/2024
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Canada's oil sands CEOs push back against proposed oil and gas emissions cap
- Canada's biggest oil sands producers support a paying a tax on carbon but see a proposed federal oil and gas emissions cap as unnecessary legislation, the companies' CEOs told lawmakers in Ottawa on Thursday.
- 06/06/2024
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Cenovus Energy: 29% Dividend Hike Is Just The Beginning
- Cenovus Energy has raised its dividend by 29% due to declining debt levels and strong free cash generation. The company's oil sands operations generate attractive cash flows with low break-even costs. Cenovus plans to increase production and expects to grow its dividend at an annual rate of 13-14% in the coming years.
- 06/05/2024
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Cenovus (CVE) Up 0.1% Since Last Earnings Report: Can It Continue?
- Cenovus (CVE) reported earnings 30 days ago. What's next for the stock?
- 05/31/2024
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The US and Allied Aircraft Carriers Sunk in WWII
- During World War II, aircraft carriers emerged as some of the most important military assets, fundamentally changing how war would be waged for decades to come. Aircraft carriers allowed for the rapid deployment of fighter planes, bombers, and reconnaissance aircraft, which enabled militaries to project power over great distances. (These are the newest aircraft carriers in U.S. Navy history.) The loss of any aircraft carrier during the war represented a huge strategic setback. On the Allied side there were several notable carriers that were sunk, each symbolizing the how costly World War II had become. Here, 24/7 Wall St. is taking a closer look at some of the critical naval losses suffered by the Allies in World War II. To identify the U.S. and Allied aircraft carriers that were lost in World War II, 24/7 Wall St. reviewed various historical and military sources. We ordered these aircraft carriers chronologically from when they were sunk. We included supplemental information regarding the classification of vessels, aircraft it could house, casualties, and where it was sunk. One of the most significant losses was the USS Hornet (CV-8), sunk during the Battle of the Santa Cruz Islands in October 1942. This battle was part of the broader Guadalcanal Campaign, where the Hornet played a critical role before being overwhelmed by Japanese aircraft. At the same time, the USS Lexington (CV-2) was lost at the Battle of the Coral Sea in May 1942. This battle marked the first time in naval history that opposing ships engaged without sighting each other, relying entirely on aircraft to wage the battle. The loss of the Lexington was a major blow to the U.S. Navy, but the battle itself was a strategic victory. (These are the aircraft carrier fleets of the world’s major powers, ranked.) Here is a look at the U.S. and Allied aircraft carriers that were lost in World War II: Why Are We Covering This? These losses illustrate not only the vulnerabilities of aircraft carriers but also their indispensable role in World War II. They were the principal platforms for air superiority, essential for reconnaissance, offensive operations, and as protective escorts for convoys and fleet movements. The evolution of naval warfare during World War II, with carriers at the forefront, set the stage for modern naval strategies centered around air power. HMS Courageous (50) Class: Courageous-class Date of sinking: September 17, 1939 Location: North Atlantic Aircraft: 48 Casualties: 519 HMS Glorious Class: Courageous-class Date of sinking: June 8, 1940 Location: Norwegian Sea Aircraft: 48 Casualties: 1207 HMS Ark Royal (91) Class: N/A Date of sinking: November 14, 1941 Location: Western Mediterranean Sea Aircraft: 60 Casualties: 1 HMS Audacity Class: N/A Date of sinking: December 21, 1941 Location: North Atlantic Aircraft: 8 Casualties: 73 USS Langely (CV-1) Class: Proteus-class Date of sinking: February 27, 1942 Location: Tjilatjap Harbor Aircraft: 34 Casualties: 319 HMS Hermes (95) Class: N/A Date of sinking: April 9, 1942 Location: Indian Ocean Aircraft: 20 Casualties: 307 USS Lexington (CV-2) Class: Lexington-class Date of sinking: May 8, 1942 Location: Coral Sea Aircraft: 91 Casualties: 216 USS Yorktown (CV-5) Class: Yorktown-class Date of sinking: June 7, 1942 Location: Midway Island Aircraft: 90 Casualties: 141 HMS Eagle (1918) Class: Almirante Latorre-class Date of sinking: August 11, 1942 Location: Western Mediterranean Sea Aircraft: 30 Casualties: 131 USS Wasp (CV-7) Class: Wasp-class Date of sinking: September 15, 1942 Location: San Cristobal Island Aircraft: 76 Casualties: 193 USS Hornet (CV-8) Class: Yorktown-class Date of sinking: October 27, 1942 Location: Santa Cruz Islands Aircraft: 90 Casualties: 140 HMS Avenger (D14) Class: Avenger-class Date of sinking: November 15, 1942 Location: Near Strait of Gibraltar Aircraft: 15 Casualties: 516 HMS Dasher (D37) Class: Avenger-class Date of sinking: March 27, 1943 Location: Firth of Clyde Aircraft: 15 Casualties: 379 USS Liscome Bay (CVE-56) Class: Casablanca-class Date of sinking: November 24, 1943 Location: Butaritan Island Aircraft: 28 Casualties: 702 USS Block Island (CVE-21) Class: Bogue-class Date of sinking: May 29, 1944 Location: Canary Islands Aircraft: 24 Casualties: 6 USS Princeton (CVL-23) Class: Independence-class Date of sinking: October 24, 1944 Location: Leyte Gulf Aircraft: 45 Casualties: 108 USS Gambier Bay (CVE-73) Class: Casablanca-class Date of sinking: October 25, 1944 Location: Samar Island Aircraft: 28 Casualties: 147 USS St. Lo (CVE-63) Class: Casablanca-class Date of sinking: October 25, 1944 Location: Leyte Gulf Aircraft: 28 Casualties: 143 USS Ommaney Bay (CVE-79) Class: Casablanca-class Date of sinking: January 4, 1945 Location: Sulu Sea Aircraft: 28 Casualties: 95 USS Bismark Sea (CVE-95) Class: Casablanca-class Date of sinking: February 21, 1945 Location: Iwo Jima Aircraft: 27 Casualties: 318 Smart Investors Are Quietly Loading Up on These “Dividend Legends” If you want your portfolio to pay you cash like clockwork, it’s time to stop blindly following conventional wisdom like relying on Dividend Aristocrats. There’s a better option, and we want to show you. We’re offering a brand-new report on 2 stocks we believe offer the rare combination of a high dividend yield and significant stock appreciation upside. If you’re tired of feeling one step behind in this market, this free report is a must-read for you. Click here to download your FREE copy of “2 Dividend Legends to Hold Forever” and start improving your portfolio today. The post The US and Allied Aircraft Carriers Sunk in WWII appeared first on 24/7 Wall St..
- 05/20/2024
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Q2 2024 EPS Estimates for Ayr Wellness Inc. Lowered by Analyst (CVE:AYR)
- Ayr Wellness Inc. (CVE:AYR – Free Report) – Atb Cap Markets reduced their Q2 2024 EPS estimates for shares of Ayr Wellness in a note issued to investors on Wednesday, May 15th. Atb Cap Markets analyst F. Gomes now expects that the company will earn ($0.37) per share for the quarter, down from their prior estimate of ($0.34). Atb Cap Markets also issued estimates for Ayr Wellness’ Q3 2024 earnings at ($0.35) EPS, Q4 2024 earnings at ($0.35) EPS, FY2024 earnings at ($2.54) EPS and FY2025 earnings at ($1.18) EPS. Ayr Wellness Price Performance Ayr Wellness (CVE:AYR – Get Free Report) last announced its quarterly earnings results on Wednesday, March 13th. The company reported C($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of C($0.38) by C$0.12. The business had revenue of C$84.36 million for the quarter, compared to analyst estimates of C$155.82 million. About Ayr Wellness (Get Free Report) Aircastle Ltd. engages in the lease, finance, sale, and management of commercial flight equipment. It employs a balanced approach to investment and capitalization. The company was founded on October 29, 2004 and is headquartered in Stamford, CT.
- 05/20/2024
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Brokers Set Expectations for Defiance Silver Corp.’s Q2 2024 Earnings (CVE:DEF)
- Defiance Silver Corp. (CVE:DEF – Free Report) – Equities research analysts at Zacks Small Cap boosted their Q2 2024 earnings per share (EPS) estimates for Defiance Silver in a report released on Thursday, May 16th. Zacks Small Cap analyst M. Kim now expects that the company will post earnings per share of $0.05 for the quarter, up from their previous forecast of $0.02. Zacks Small Cap also issued estimates for Defiance Silver’s Q3 2024 earnings at $0.06 EPS, Q4 2024 earnings at $0.09 EPS, FY2024 earnings at $0.16 EPS and FY2025 earnings at $0.69 EPS. Defiance Silver Trading Down 25.9 % Shares of CVE DEF opened at C$0.32 on Monday. Defiance Silver has a fifty-two week low of C$0.09 and a fifty-two week high of C$0.54. The firm has a market capitalization of C$80.68 million, a P/E ratio of -10.00 and a beta of 2.82. The company has a debt-to-equity ratio of 8.70, a current ratio of 0.78 and a quick ratio of 12.57. The company’s 50 day simple moving average is C$0.19 and its 200 day simple moving average is C$0.14. Defiance Silver (CVE:DEF – Get Free Report) last released its earnings results on Monday, April 1st. The company reported C($0.02) earnings per share (EPS) for the quarter. The business had revenue of C$4.50 million for the quarter. Insider Buying and Selling at Defiance Silver In other news, insider Breakaway Strategic Resources Segregated Portfolio sold 3,000,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of C$0.10, for a total value of C$300,000.00. Corporate insiders own 3.70% of the company’s stock. Defiance Silver Company Profile (Get Free Report) Defiance Silver Corp., an exploration stage company, acquires, explores, evaluates, and develops mineral properties primarily in Mexico. It primarily explores for gold, copper, and silver deposits. The company was formerly known as Defiance Capital Corp. and changed its name to Defiance Silver Corp. in June 2011. Read More Five stocks we like better than Defiance Silver High Flyers: 3 Natural Gas Stocks for March 2022 MarketBeat Week in Review – 5/13 – 5/17 What Does Downgrade Mean in Investing? Take-Two Interactive Software Offers 2nd Chance for Investors REIT Stocks – Best REIT Stocks to Add to Your Portfolio Today Deere & Company’s Q2 Report: Strong Revenue, Cautious Outlook
- 05/20/2024
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Research Analysts Offer Predictions for Questor Technology Inc.’s Q2 2024 Earnings (CVE:QST)
- Questor Technology Inc. (CVE:QST – Free Report) – Atb Cap Markets issued their Q2 2024 EPS estimates for Questor Technology in a note issued to investors on Thursday, May 16th. Atb Cap Markets analyst T. Monachello anticipates that the company will post earnings of ($0.01) per share for the quarter. The consensus estimate for Questor Technology’s current full-year earnings is $0.02 per share. Atb Cap Markets also issued estimates for Questor Technology’s FY2026 earnings at $0.05 EPS. Separately, ATB Capital lowered their target price on shares of Questor Technology from C$1.10 to C$1.00 and set a “sector perform” rating for the company in a research note on Monday, February 5th. View Our Latest Analysis on QST Questor Technology Price Performance Shares of CVE QST opened at C$0.55 on Monday. Questor Technology has a fifty-two week low of C$0.48 and a fifty-two week high of C$1.00. The company has a market cap of C$15.36 million, a PE ratio of -3.24 and a beta of 1.57. The company has a debt-to-equity ratio of 3.39, a quick ratio of 5.48 and a current ratio of 5.86. The business has a 50-day simple moving average of C$0.58 and a two-hundred day simple moving average of C$0.66. Questor Technology (CVE:QST – Get Free Report) last announced its earnings results on Thursday, April 18th. The company reported C($0.03) earnings per share for the quarter. Questor Technology had a negative return on equity of 17.95% and a negative net margin of 66.84%. The business had revenue of C$1.45 million for the quarter. Questor Technology Company Profile (Get Free Report) Questor Technology Inc, an environmental emissions reduction technology company, designs, manufactures, and services waste gas combustion systems in Canada and the United States. The company rents waste gas incineration systems. It offers its solutions for various oil and gas projects, as well as for landfill biogas, syngas, waste engine exhaust, geothermal and solar, and cement plant waste heat. Read More Five stocks we like better than Questor Technology EV Stocks and How to Profit from Them MarketBeat Week in Review – 5/13 – 5/17 Investing in Commodities: What Are They? How to Invest in Them Take-Two Interactive Software Offers 2nd Chance for Investors The 3 Best Blue-Chip Stocks to Buy Now Deere & Company’s Q2 Report: Strong Revenue, Cautious Outlook
- 05/20/2024
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4 Energy Companies That Recently Pumped Up Their Dividends
- Amid concerns over cyclical fluctuations in the energy sector, dividends are flourishing. We delve into the recent payout increases from MUSA, TRGP, CVE and PSX.
- 05/14/2024
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Cash Flow Gusher: How Cenovus Energy Can Shower You With Dividends
- Canadian oil sands are looking to boost output by 15% through 2030, providing a valuable source of supply growth in a world without U.S. shale growth. Cenovus Energy, a Canadian oil company, has strong growth prospects and a future-proof business model with diversified operations in upstream production and refining. Cenovus generated $3.2 billion in operating income in Q1 2024 and plans to return excess free cash flow to shareholders through dividends and buybacks.
- 05/12/2024
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Why Cenovus Energy (CVE) is a Top Dividend Stock for Your Portfolio
- Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Cenovus Energy (CVE) have what it takes?
- 05/08/2024
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Is Cenovus Energy (CVE) Stock Undervalued Right Now?
- Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
- 05/08/2024
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Cenovus (CVE) Q1 Earnings Beat Estimates, Revenues Miss
- Cenovus' (CVE) Q1 earnings gain from higher contributions from the Oil Sands unit and lower expenses.
- 05/06/2024
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Cenovus reports voting results of annual meeting of shareholders
- CALGARY, Alberta, May 01, 2024 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) held its annual meeting of shareholders on May 1, 2024. Each matter voted on is described in greater detail in the Corporation's 2024 Management Information Circular dated March 6, 2024.
- 05/01/2024
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Cenovus Energy Inc. (CVE) Q1 2024 Earnings Call Transcript
- Cenovus Energy Inc. (NYSE:CVE ) Q1 2024 Earnings Conference Call May 1, 2024 11:00 AM ET Company Participants Jason Abbate - SVP, IR Jon McKenzie - CEO Kam Sandhar - EVP, Strategy & Corporate Development Drew Zieglgansberger - EVP, Natural Gas & Technical Services Keith Chiasson - EVP, Downstream Conference Call Participants Greg Pardy - RBC Capital Markets Dennis Fong - CIBC Menno Hulshof - TD Cowen John Royall - JPMorgan Patrick O'Rourke - ATB Capital Markets Manav Gupta - UBS Nicolette Slusser - Goldman Sachs Chris Varcoe - Calgary Herald Operator Good day ladies and gentlemen and thank you for standing by. Welcome to Cenovus Energy's First Quarter Results.
- 05/01/2024
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Cenovus Energy (CVE) Beats Q1 Earnings Estimates
- Cenovus Energy (CVE) came out with quarterly earnings of $0.46 per share, beating the Zacks Consensus Estimate of $0.35 per share. This compares to earnings of $0.24 per share a year ago.
- 05/01/2024
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Cenovus announces first-quarter 2024 results
- CALGARY, Alberta, May 01, 2024 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) delivered solid results across its portfolio in the first quarter of 2024. Production from its upstream assets remained strong through the quarter, and reflects scheduled maintenance in the Atlantic region. The downstream assets continued to run with high operational availability, allowing them to benefit from improved benchmark pricing in the U.S. Beginning in the second quarter of 2024, the Board of Directors approved a 29% increase in the base dividend to $0.72 per share annually, and declared a variable dividend of $0.135 per share to fulfill the company's first quarter shareholder return allocation. Consistent with Cenovus's financial framework, the base dividend is fully supported over the long term by funds flow generation at the bottom of the commodity price cycle.
- 05/01/2024
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Cenovus to hold first-quarter conference call and webcast, virtual annual meeting of shareholders on May 1
- CALGARY, Alberta, April 24, 2024 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will release its first-quarter 2024 results on Wednesday, May 1. The news release will provide consolidated first-quarter operating and financial information. The company's financial statements will be available on Cenovus's website, cenovus.com.
- 04/24/2024
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Here's Why Cenovus Energy (CVE) is a Strong Momentum Stock
- Whether you're a value, growth, or momentum investor, finding strong stocks becomes easier with the Zacks Style Scores, a top feature of the Zacks Premium research service.
- 04/23/2024
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Should You Buy Cenovus Energy (CVE) Ahead of Earnings?
- Cenovus Energy (CVE) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
- 04/23/2024
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Will Cenovus (CVE) Beat Estimates Again in Its Next Earnings Report?
- Cenovus (CVE) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
- 04/17/2024
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Cenovus Energy (CVE) to Report Q1 Results: Wall Street Expects Earnings Growth
- Cenovus (CVE) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
- 04/17/2024
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Cenovus Energy (CVE) Invests $1.5B in Ohio Refineries' Growth
- Cenovus Energy (CVE) announces a massive $1.5B investment to expand its Toledo and Lima refineries in Ohio, with plans to add 115 jobs and expand its U.S. headquarters.
- 04/12/2024
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Cenovus Energy to invest $1.5 billion in Ohio refineries
- Cenovus Energy has announced a $1.5 billion investment in its Ohio refineries, including Lima and Oregon, according to a local media report on Wednesday.
- 04/11/2024
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Cenovus Energy: My Top Pick Among Canadian Majors
- Startup of the Canadian Trans Mountain Pipeline will ease previous transportation bottlenecks and likely provide a significant tailwind to local benchmark WCS pricing. While all Canadian majors should profit from this, I see Cenovus Energy as having the most leverage towards both WCS differentials and a generally favorable oil price outlook. I estimate CVE can hit its net debt target by Q3, allowing for 100% of FCF to be allocated towards shareholders for a potential ~7.3% total distribution yield (peers ~6.5%).
- 04/10/2024
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Cenovus Energy: Lots Of Cash Flow At A Cheap Price
- Cenovus Energy has a history of significant integration and opportunistic acquisitions. Margin expansion and above average growth should continue for years to come. The company's cash flow has about tripled (by fiscal 2022) in less than seven years, and it is expected to continue growing.
- 04/01/2024
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7 Energy Stocks to Scoop Up as Natural Gas Prices Hit Rock Bottom
- Energy stocks – particularly those focused on natural gas – look particularly interesting at the moment. natural gas prices plunged by 62% in 2023.
- 03/26/2024
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Cenovus Energy (CVE) Voices Concern Over Carbon Capture Aid
- Cenovus Energy (CVE) criticizes the Canadian government for providing limited support to a C$16.5B carbon capture initiative, urging more financial backing and clarity.
- 03/07/2024
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Cenovus Energy (CVE) Maps Out an Ambitious 5-Year Expansion Plan
- Cenovus Energy (CVE) sets the stage for a major production leap of 19% over the next five years, eyeing 950K boe/day by 2029.
- 03/06/2024
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7 Cheap Dividend Stocks to Grab for Under $20 This March
- Passive income usually denotes high-priced blue chips but certain cheap dividend stocks to buy can offer the best of all worlds. Yes, they're risky and you don't want to put all your eggs in one basket.
- 03/05/2024
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Cenovus to webcast Investor Day 2024
- CALGARY, Alberta, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will hold its 2024 Investor Day in Toronto on Tuesday, March 5, 2024, at 8:30 a.m. ET (6:30 a.m. MT). Members of Cenovus's Leadership Team will provide an update on the company's strategy, outlook and operations to invited institutional investors and analysts.
- 02/27/2024
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Cenovus Energy: Possibly One Of The Most Undervalued Energy Stocks
- Cenovus Energy achieved significant operational milestones in Q4'23, including the successful restart of two refineries and progress on the TMX pipeline. Canadian oil industry is expected to benefit from the TMX pipeline, potentially reducing oil differentials and boosting profitability. Despite headwinds, Cenovus Energy remains committed to debt reduction and returning excess free cash flow to shareholders, offering attractive investment opportunities.
- 02/18/2024
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Cenovus (CVE) Tops on Q4 Earnings, Expects '24 Production Hike
- Cenovus' (CVE) Q4 earnings gain from higher contributions from the Oil Sands unit and lower expenses.
- 02/16/2024
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Cenovus Energy: Calling All Dividend Investors
- Cenovus Energy Inc. has reduced debt by over C$900 million in the latest quarter. It will not be long before the company hits the net debt goal of $4 billion. The company's refining abilities insulate a lot of production from thermal oil pricing discounts, allowing for more cash flow in the future.
- 02/16/2024
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Cenovus Energy (CVE) Surpasses Q4 Earnings Estimates
- Cenovus Energy (CVE) came out with quarterly earnings of $0.29 per share, beating the Zacks Consensus Estimate of $0.25 per share. This compares to earnings of $0.29 per share a year ago.
- 02/15/2024
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Cenovus Energy fourth-quarter profit misses estimates
- Cenovus Energy narrowly missed estimates for quarterly profit on Thursday, hit by lower oil prices.
- 02/15/2024
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What's in Store for Cenovus Energy (CVE) in Q4 Earnings?
- While decreased commodity prices are likely to have hurt Cenovus Energy's (CVE) Q4 earnings, higher production may have partially offset the negative.
- 02/12/2024
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Cenovus to hold fourth-quarter, full-year 2023 results conference call and webcast February 15
- CALGARY, Alberta, Feb. 09, 2024 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) will release its fourth-quarter and full-year 2023 results on Thursday, February 15. The news release will provide consolidated fourth-quarter and full-year operating and financial information. The company's quarterly and 2023 financial statements will be available on Cenovus's website, cenovus.com.
- 02/09/2024
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Under-the-Radar: 3 Stocks Poised for Surprise Gains
- Though one of the remarkable elements of the new year so far has been the sustained performance of the usual suspects, investors should still consider the potential value of stocks with unexpected gains. These enterprises might not be in the spotlight compared to more popular enterprises on Wall Street.
- 01/29/2024
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3 Value Stocks to Buy as the Market Shifts from Growth to Value
- Based on the latest headlines, investors might be tempted to ignore the viability of underappreciated value stocks. Primarily, the latest reports indicate that the economy grew at a much more rapid pace than experts anticipated in the fourth quarter.
- 01/28/2024
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New Strong Sell Stocks for January 23rd
- CVE, CMC and CUTR have been added to the Zacks Rank #5 (Strong Sell) List on January 23, 2023.
- 01/23/2024
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7 Undervalued Stocks to Buy for the Contrarian Investor
- With the equities sector avoiding a much-dreaded recession in 2023 and subsequently rising to unprecedented heights, investors may be better served rotating into undervalued stocks. Let's think of it in (American) football terms.
- 01/15/2024
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Tap These 5 Bargain Stocks With Attractive EV-to-EBITDA Ratio
- We have screened bargain stocks KT, PK, CVE, FHN and NOAH based on the EV-to-EBITDA ratio, which offers a clearer picture of valuation and earnings potential.
- 01/03/2024
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Cenovus (CVE) Creates Kaybob Duvernay JV With Athabasca
- To kickstart the creation of Duvernay Energy, Cenovus (CVE) will contribute $18 million and Athabasca will contribute $22 million in seed capital.
- 12/20/2023
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Cenovus: Three Headwinds Explain The Underperformance
- We had recommended Cenovus Energy's preferred shares for a lower-risk play on the company's credit. Those have outperformed the common shares by about 30% since then. We update our outlook on the common shares, and preferred shares and also look at the warrants.
- 12/15/2023
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Cenovus (CVE) Shares Dip 1.2% Since Posting Q3 Earnings Results
- Higher contributions from the Oil Sands unit and lower expenses aid Cenovus' (CVE) earnings in Q3.
- 11/07/2023
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Canada's Best - Cenovus Is A Significantly Undervalued Buyback Powerhouse
- Cenovus Energy is one of Canada's best energy stocks, with deep reserves, a strong balance sheet, and a plan to distribute 100% of its free cash flow to shareholders. The company's focus on buybacks is driven by its belief that the stock is undervalued, benefiting shareholders with potential for significant appreciation. Despite the volatility of energy stocks, accumulating Cenovus shares during dips could be a wise long-term investment strategy.
- 11/06/2023
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Cenovus Energy, CNQ shares higher on 3Q results
- Canadian Natural Resources Ltd (CNQ) on Thursday posted third-quarter adjusted earnings per share (EPS) that exceeded analysts' expectations on record production that averaged 1.39 million oil-equivalent barrels per day. The senior crude oil and natural gas production company said its adjusted EPS came in at C$2.59, surpassing the C$2.43 consensus estimate of 11 analysts polled by FactSet.
- 11/02/2023
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Cenovus Energy's quarterly profit rises as production climbs
- Canadian oil and gas firm Cenovus Energy's quarterly profit rose on Thursday, helped by strong demand for crude oil amid tight supplies and higher production.
- 11/02/2023
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Cenovus to hold third-quarter conference call and webcast
- CALGARY, Alberta, Oct. 25, 2023 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will release its third-quarter 2023 results on Thursday, November 2. The news release will provide consolidated third-quarter operating and financial information. The company's financial statements will be available on Cenovus's website, cenovus.com.
- 10/25/2023
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Will Cenovus (CVE) Beat Estimates Again in Its Next Earnings Report?
- Cenovus (CVE) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
- 10/24/2023
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Harland & Wolff spikes 15% after winning large oil vessel contract with Cenovus
- Shares in Harland & Wolff Group (AIM:HARL) were winched up 15% to 13p after the Belfast shipbuilder said it has won a £61 million contract to upgrade the SeaRose floating production storage and offloading (FPSO) vessel. The Cenovus Energy, the Canadian oil giant, will deliver the FSPO vessel in in the first quarter of 2024, where is expected to remain in H&W's building dock for at least three months, with a peak of around 1,000 staff and contractors engaged in the work.
- 10/20/2023
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Cenovus Energy: Preferred Shares Could Yield 8-12% Upon Reset
- Cenovus Energy is a large integrated oil and gas producer in Canada with strong financial results and high dividend coverage ratios. The Series 3 preferred shares currently yield 6.1%, but the dividend rate will reset at the end of 2024. The Series 1 preferred shares currently yield 5.5% and could offer a yield of 10-12.5% starting in Q1 2026, based on assumptions of a 3-4.15% long-term bond yield.
- 10/14/2023
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Here's Why Hold Strategy is Apt for Cenovus (CVE) Stock Now
- Cenovus (CVE) remains dedicated to debt reduction through free cash flow generation and asset divestment.
- 10/12/2023
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Cenovus Energy Inc: Not Getting A Lot Of Value Here
- Cenovus Energy's dividend yield has fallen since 2014 and is now nearing a 2% yield. The company's thermal business generates substantial cash flow, providing protection for cash flow even in scenarios where losses are incurred. Cenovus has a strong asset base with long reserve lives, but its valuation and lack of exposure to the LNG market pose risks.
- 10/05/2023
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Invest in Fusion Energy With These 3 Stocks to Buy
- Fusion energy stocks will only gain more attention between now and 2030. The first fusion power plants will likely be operational by that date.
- 09/18/2023
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3 Nuclear Fusion Stocks to Buy Right Now
- Defined by the International Atomic Energy Agency as the process where “two light atomic nuclei combine to form a heavier one, releasing massive energy,” nuclear fusion could potentially reshape our energy narrative. Moreover, Bloomberg's eye-popping projection suggests nuclear fusion could potentially be a $40 trillion market, fueling intrigue in nuclear fusion stocks to buy.
- 09/18/2023
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Cenovus Energy: Massive Buybacks And Dividends Are Around The Corner
- Cenovus Energy has undergone a turnaround and is now an attractive investment with efficient production, substantial oil reserves, and a focus on reducing debt. The company is expected to reach its net debt target by the end of the year, unlocking a wave of cash for shareholders. Recent outperformance, including a 20% return on NY-listed shares since May, suggests a positive future for CVE shares.
- 08/31/2023
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Chevron Is Better Than Cenovus
- Cenovus, a Canadian tar sands producer, offers less to investors as compared to shale oil producers in the lower 48, including Chevron. Also, Cenovus does not have exposure to the fast-growing global and very profitable LNG market. Chevron does. Bottom line: Chevron has a superior asset base, a higher free cash flow yield, stronger dividend growth, and overall superior total returns.
- 08/23/2023
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Cenovus (CVE) Shares Gain 5% Since Reporting Q2 Earnings Beat
- Higher contributions from the Canadian Manufacturing unit and lower expenses aid Cenovus' (CVE) earnings in Q2.
- 08/04/2023
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Cenovus Energy (CVE) Surpasses Q2 Earnings Estimates
- Cenovus Energy (CVE) came out with quarterly earnings of $0.33 per share, beating the Zacks Consensus Estimate of $0.32 per share. This compares to earnings of $0.93 per share a year ago.
- 07/27/2023
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Canada's Cenovus Energy reports lower second-quarter profit
- Oil and gas producer Cenovus Energy Inc reported a 64% fall in second-quarter profit on Thursday, hurt by lower oil prices and wildfires in Canada's main oil producing province Alberta which forced producers to curtail production.
- 07/27/2023
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Cenovus Energy: Still Growing
- Cash flow from operating activities has increased far more than the Cenovus Energy Inc. stock price. The company went from primarily a thermal producer to an integrated company. This is something that is new to the market. Acquisitions are likely to proceed at a slower pace.
- 07/24/2023
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Cenovus to hold second-quarter conference call and webcast
- CALGARY, Alberta, July 20, 2023 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will release its second-quarter 2023 results on Thursday, July 27. The news release will provide consolidated second-quarter operating and financial information. The company's financial statements will be available on Cenovus's website, cenovus.com.
- 07/20/2023
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Cenovus Energy: Preferred Shares Look Incredibly Attractive
- Cenovus Energy has made steady progress in debt reduction. Despite the Q1-2023 hiccup, target levels for accelerated shareholder returns will likely be reached in the next 12 months. Preferred shares, especially series 1, offer a very low-risk income play.
- 07/14/2023
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Here's Why Hold Strategy is Apt for Cenovus (CVE) Stock Now
- Cenovus (CVE) expects to continue progressing on debt reduction throughout 2023.
- 06/07/2023
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Cenovus (CVE) Resumes Wildfire-Impacted Production in Alberta
- Cenovus (CVE) cites that about 20,000-Boe/d Rainbow Lake operations are expected to restart production in 7-10 days.
- 06/06/2023
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Cenovus Energy restarts 62,000 boepd wildfire-impacted production
- Canada's Cenovus Energy Inc said on Monday it had restarted about 62,000 barrels of oil equivalent per day (boepd) of production after shutdowns in May due to wildfires in Alberta.
- 06/05/2023
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Why Is Cenovus (CVE) Up 1.8% Since Last Earnings Report?
- Cenovus (CVE) reported earnings 30 days ago. What's next for the stock?
- 05/26/2023
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Canadian oil sands output expected to reach 3.7 mln bpd by 2030 - S&P Global
- Canadian oil sands production is expected to reach 3.7 million barrels per day by 2030, S&P Global said on Thursday, raising the analytics firm's 2030 production outlook for the country for the first time in half a decade.
- 05/25/2023
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Cenovus Energy's Shareholder Distributions Are About To Soar
- Cenovus Energy is a Canadian oil major with efficient production, substantial oil reserves, and a focus on reducing debt. The company is expected to reach its net debt target by the end of this year, unlocking a wave of cash for shareholders through dividends and potential buybacks.
- 05/19/2023
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Is the Options Market Predicting a Spike in Cenovus Energy (CVE) Stock?
- Investors need to pay close attention to Cenovus Energy (CVE) stock based on the movements in the options market lately.
- 05/16/2023
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Cenovus (CVE) Shares Decline 4.6% Despite Q1 Earnings Beat
- Higher contributions from the Canadian Manufacturing unit and lower expenses for purchased products aid Cenovus' (CVE) earnings in Q1.
- 05/09/2023
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Cenovus Energy Inc. (CVE) Q1 2023 Earnings Call Transcript
- Cenovus Energy Inc. (CVE) Q1 2023 Earnings Call Transcript.
- 04/26/2023
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Cenovus Energy (CVE) Q1 Earnings Surpass Estimates
- Cenovus Energy (CVE) came out with quarterly earnings of $0.24 per share, beating the Zacks Consensus Estimate of $0.22 per share. This compares to earnings of $0.62 per share a year ago.
- 04/26/2023
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Factors to Note Right Ahead of Cenovus' (CVE) Q1 Earnings
- Cenovus' (CVE) upstream operations are likely to have been affected by declining commodity prices in Q1.
- 04/24/2023
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Cenovus to hold first-quarter conference call and webcast, virtual annual meeting of shareholders on April 26
- CALGARY, Alberta, April 19, 2023 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will release its first-quarter 2023 results on Wednesday, April 26. The news release will provide consolidated first-quarter operating and financial information. The company's financial statements will be available on Cenovus's website, cenovus.com.
- 04/19/2023
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Smead International Value 1Q 2023 Newsletter: Buying Unwanted Assets
- To kick off the beginning of 2023, there continues to be a bias we see in equity investor portfolios. These portfolios have many of the traits investors see at the endpoints of the economy like software, consumer products and computer chips.
- 04/17/2023
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7 Oil Stocks to Buy on OPEC's Surprise Production Cuts
- Thanks to the surprise production cuts from the alliance between the Organization of the Petroleum Exporting Countries (OPEC) and non-member oil-producing nations — known as OPEC+ — oil stocks to buy suddenly got extremely compelling. Further, a key question sprouted regarding future monetary policy.
- 04/10/2023
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Gas Injection: Cenovus And Suncor Erupt
- March Madness gave way to a banking crisis that shocked the global markets, followed by OPEC+ announcing a surprise cut of ~1.2M barrels of oil per day. Energy was the best-performing sector in 2022, maintaining the title into 2023 with XLE +12% over one year.
- 04/04/2023
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Here's Why Hold Strategy is Apt for Cenovus (CVE) Stock Now
- Cenovus (CVE) expects downstream throughput volumes of 610,000-660,000 barrels per day for 2023, indicating a 28% increase from the 2022 reported level.
- 03/23/2023
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5 Stocks With Recent Dividend Hike for a Stable Portfolio
- Dividend-paying stocks should be in demand as investors will try to safeguard their portfolios. Five of them are: HUM, CVE, ATHM, NPO and MBIN.
- 02/22/2023
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Cenovus Energy, Inc. (CVE) Q4 2022 Earnings Call Transcript
- Cenovus Energy, Inc. (NYSE:CVE ) Q4 2022 Earnings Conference Call February 16, 2023 11:00 AM ET Company Participants Sherry Wendt - Director, IR Jonathan McKenzie - EVP & COO Alexander Pourbaix - CEO, President & Director Norrie Ramsay - EVP, Upstream, Thermal, Major Projects & Offshore Joseph Zieglgansberger - EVP, Natural Gas & Technical Services Keith Chiasson - EVP, Downstream Conference Call Participants Greg Pardy - RBC Capital Markets Dennis Fong - CIBC Capital Markets Neil Mehta - Goldman Sachs Menno Hulshof - TD Securities Ashok Dutta - S&P Global Platts John Royall - JPMorgan Chase & Co. Chris Varcoe - Calgary Herald Operator Good day, ladies and gentlemen, and thank you for standing by. Welcome to Cenovus Energy's Fourth Quarter and Year-end 2020 Results.
- 02/16/2023
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Cenovus Energy (CVE) Misses Q4 Earnings Estimates
- Cenovus (CVE) delivered earnings and revenue surprises of -39.58% and 6.06%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?
- 02/16/2023
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Cenovus: What To Expect From Oil Sands Producer's Q4
- Cenovus is scheduled to release its Q4 and full-year 2022 results on Thursday. Expect a meaningful reduction in the company's year-over-year debt load. That's because, as of Q3, debt had already dropped from C$12.4 billion at year-end 2022 to C$8.8 billion (-29%). I expect further progress was made in Q4.
- 02/14/2023
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Cenovus to hold fourth-quarter, full-year 2022 results conference call and webcast February 16
- CALGARY, Alberta, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will release its fourth-quarter and full-year 2022 results on Thursday, February 16. The news release will provide consolidated fourth-quarter and full-year operating and financial information. The company's quarterly and 2022 financial statements will be available on Cenovus's website, cenovus.com.
- 02/09/2023
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Cenovus Energy: Integration Continues
- Operational optimization continues. It takes several years to realize the full potential of a large acquisition like Husky.
- 01/22/2023
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7 Long-Term Stocks Every Smart Investor Should Own in 2023
- Although the volatility of last year may tempt contrarians to go big this year, some funds should be dedicated to long-term stocks to own. Don't get me wrong – under the right circumstances, taking potshots can prove incredibly lucrative.
- 01/21/2023
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Cenovus Energy: +6% Yield Could Be On The Cards
- Cenovus Energy succeeded in bringing down its debt considerably in 2022. This means that CVE enters 2023, with its net debt at CAD$4 billion. As a corollary, this means that CVE will now increase its capital allocation profile from 50% of FCF to 100% of FCF back to shareholders.
- 01/17/2023
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The Trans Mountain Pipeline Expansion Will Benefit Cenovus
- Later this year, likely in Q4, the long-awaited Trans Mountain pipeline expansion project will come online. The stocks of big oil sands producers - like Cenovus - will benefit. The pipeline will add 590,000 bpd of long-overdo and badly needed oil sands pipeline exit capacity.
- 01/17/2023
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7 Nuclear Fusion Stocks to Buy Before the Next Breakthrough
- In the final month of 2022, scientists at Lawrence Livermore National Laboratory ended a rough year with a bang by reproducing the power of the sun in a laboratory, sparking forward-looking interest in so-called nuclear fusion stocks. But what exactly is nuclear fusion?
- 12/31/2022
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7 Long-Term Stocks to Buy to Bet on Nuclear Fusion
- Amid the latest groundbreaking news in the broader energy space, investors may want to target certain long-term stocks to buy on the nuclear fusion announcement. According to T he New York Times, scientists at the Lawrence Livermore National Laboratory in California announced a major milestone: they laid the groundwork in reproducing the power of the sun in a laboratory.
- 12/19/2022
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New Strong Sell Stocks for December 19th
- ARCE, CVE and AIZ have been added to the Zacks Rank #5 (Strong Sell) List on December 19, 2022.
- 12/19/2022
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Oil & Gas Stock Roundup Headlined by Exxon & Chevron's 2023 Outlooks
- Apart from ExxonMobil (XOM) and Chevron ((VX), Cenovus Energy (CVE), Transocean (RIG) and Petrobras (PBR) hogged attention during the week.
- 12/15/2022
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Cenovus (CVE) Shares Gain 2.6% Despite Q3 Earnings Miss
- Higher transportation and blending expenses, and expenses for purchased products hurt Cenovus' (CVE) earnings in Q3.
- 11/17/2022
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Cenovus Energy: Buy For The Income And Stay For The Growth
- Cenovus Energy currently returns 50% of excess free cash flow to shareholders. When the net debt level drops to C$4 billion of net debt, then 100% of the excess free cash flow will be returned to shareholders. That is a lot more cash.
- 11/11/2022
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Cenovus Energy: The Best It Gets, Now Time To Sell
- Cenovus Energy benefited greatly as oil prices surged during 2022 and saw them deleverage. They are now on the cusp of returning the entirety of their free cash flow to shareholders but in the medium to long term, their shares do not offer desirable value.
- 11/07/2022
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Cenovus Energy: Explosive Dividend Growth
- Cenovus Energy has delivered a veritable explosion of dividend growth this year, tripling its payout. Over two years, the dividend has grown 400%!
- 11/07/2022
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Cenovus Energy: Right On Track
- Cenovus delivered another solid quarter with adjusted funds flow of nearly $3 billion and free funds flow of ~$2.1 billion. Net debt has declined to $5.3 billion and Cenovus has guided to hitting their net debt floor by the end of this year.
- 11/03/2022
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Cenovus Energy Inc. (CVE) Q3 2022 Earnings Call Transcript
- Cenovus Energy Inc. (NYSE:CVE ) Q3 2022 Earnings Conference Call November 2, 2022 11:00 AM ET Company Participants Sherry Wendt - Vice President, Investor Relations Alex Pourbaix - President & Chief Executive Officer Keith Chiasson - Executive Vice President Downstream Rhona DelFrari - Chief Sustainability Officer Jeffrey Hart - Executive Vice President & Chief Financial Officer Norrie Ramsay - Executive Vice President Upstream Andrew Dahlin - Executive Vice-President, Corporate & Operations Services Jon McKenzie - Executive Vice President & Chief Operating Office Conference Call Participants Greg Pardy - RBC Capital Markets Menno Hulshof - TD Securities John Royall - JPMorgan Dennis Fong - CIBC World Markets Chris Varcoe - Calgary Herald Rod Nickel - Reuters Robert Tuttle - Bloomberg News Operator Good day, ladies and gentlemen and thank you for standing by. Welcome to Cenovus Energy's Third Quarter Results.
- 11/02/2022
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Cenovus to hold third-quarter conference call and webcast November 2
- CALGARY, Alberta, Oct. 27, 2022 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will release its third-quarter results on Wednesday, November 2. The news release will provide consolidated third-quarter operating and financial information. Financial statements will be available on Cenovus's website, cenovus.com.
- 10/27/2022
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Here is What to Know Beyond Why Cenovus Energy Inc (CVE) is a Trending Stock
- Cenovus (CVE) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
- 10/27/2022
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New Strong Sell Stocks for October 3rd
- CVE, NKE and KAR have been added to the Zacks Rank #5 (Strong Sell) List on October 3, 2022.
- 10/03/2022
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Cenovus Energy: Still Growing
- Cenovus Energy Inc. will grow through small acquisitions and organic growth. Management has a chance to demonstrate higher profits from merger synergies.
- 09/30/2022
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Cenovus Energy: Buy The Dip
- Cenovus Energy is down 40% from June highs and is still trading at lows not seen since February. We think Cenovus stock is investable at current levels and discuss why.
- 09/30/2022
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Is Trending Stock Cenovus Energy Inc (CVE) a Buy Now?
- Cenovus (CVE) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
- 09/29/2022
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Cenovus Energy: Don't Buy The Dip Until You See Analysts Panicking
- Demand destruction is the dominant theme now, overshadowing the supply constraint arguments made by energy bulls. Notably, CVE has fallen 37% from its June highs. We assessed that a short-term rally could follow. However, we explain why we do not encourage buy-and-hold investors to add at the current levels.
- 09/29/2022
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7 Growth Stocks to Buy Before the Bull Market Returns
- Overwhelmed with negative economic news, investors are unsure whether to buy or sell growth stocks. Is it time to take a contrarian approach and buy growth stocks before the bull market returns?
- 09/28/2022
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7 Safe Havens All Investors Should Have Exposure to in 2022
- Investors who have a high exposure to stocks in 2022 probably wish the year would end. Unless they raised their allocation in cash, their losses in the portfolio are mounting.
- 09/22/2022
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7 Oil Stocks to Buy on the Dip or You'll Be Kicking Yourself Later
- Featuring one of the market's love-hate affairs, the relevant-though-controversial category of oil stocks to buy will likely become increasingly intriguing to investors. Facing what could be a brutal winter for much of the world, geopolitical tensions cynically facilitate upside catalysts for hydrocarbon-related companies.
- 09/21/2022
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Here's Why Cenovus (CVE) is an Attractive Investment Bet
- The positive trajectory in oil prices is a boon for Cenovus' (CVE) upstream operations.
- 09/15/2022
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Cenovus Energy Inc (CVE) is Attracting Investor Attention: Here is What You Should Know
- Recently, Zacks.com users have been paying close attention to Cenovus (CVE). This makes it worthwhile to examine what the stock has in store.
- 09/15/2022
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Cenovus Energy Inc (CVE) Is a Trending Stock: Facts to Know Before Betting on It
- Cenovus (CVE) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
- 09/01/2022
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Cenovus Energy: Energy Crisis Could Mean Huge Profits
- The world's energy crisis is still ongoing. The Strategic Petroleum Reserve (SPR) release has masked the problem in recent months, but prices have begun rising again.
- 08/30/2022
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Cenovus Energy: Growth Strategy Still In Place
- Cenovus Energy's growth strategy is likely to continue into the future. Current deals are low risk "add-on" projects that management has a history with the assets.
- 08/29/2022
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7 A-Rated Growth Stocks to Buy Today for a Profitable Tomorrow
- A-rated growth stocks are a great way to help ensure a profitable tomorrow, and everyone wants a profitable tomorrow. That's one of the reasons why we invest – to build a nest egg to pay for our retirements, and to pass along wealth to our loved ones.
- 08/29/2022
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Eni, TotalEnergies Find Gas in Cronos-1 Well Offshore Cyprus
- Eni (E) operates Block 6 with a 50% stake, while partner TotalEnergies (TTE) owns the rest.
- 08/24/2022
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Investors Heavily Search Cenovus Energy Inc (CVE): Here is What You Need to Know
- Zacks.com users have recently been watching Cenovus (CVE) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
- 08/18/2022
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Cenovus (CVE) Shares Dip 7.6% Despite Earnings Beat in Q2
- Higher daily oil sand production aids Cenovus' (CVE) earnings in Q2.
- 08/10/2022
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Cenovus Energy: Rewriting History
- Since the purchase of the ConocoPhillips interest in 2017, Cenovus Energy's profits have increased dramatically. The Husky merger should allow profits to make another giant leap.
- 08/10/2022
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Is Cenovus Energy (CVE) a Great Value Stock Right Now?
- Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
- 08/09/2022
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Cenovus Energy: Prepare For The Cash Flood
- Cenovus is getting closer to the lower end of its net debt target range. Cash returns to shareholders are high already, but they could climb further going forward.
- 08/09/2022
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Here is What to Know Beyond Why Cenovus Energy Inc (CVE) is a Trending Stock
- Cenovus (CVE) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
- 08/05/2022
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Cenovus Energy Inc. (CVE) CEO Alexander Pourbaix on Q2 2022 Results - Earnings Call Transcript
- Cenovus Energy Inc. (NYSE:CVE ) Q2 2022 Earnings Conference Call July 28, 2022 11:00 AM ET Company Participants Sherry Wendt - Vice President of Investor Relations Alexander Pourbaix - President and Chief Executive Officer Norrie Ramsay - Executive Vice President of Upstream Keith Chiasson - Executive Vice President of Downstream Jonathan McKenzie - Chief Operating Officer Rhona DelFrari - Chief Sustainability Officer Conference Call Participants Menno Hulshof - TD Securities Greg Pardy - RBC Capital Markets Dennis Fong - CIBC World Markets Neil Mehta - Goldman Sachs Manav Gupta - Credit Suisse John Royall - JPMorgan Chris Varcoe - Calgary Herald Nia Williams - Reuters Operator Good day, ladies and gentlemen, and thank you for standing by. Welcome to Cenovus Energy's Second Quarter Results.
- 07/31/2022
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Wall Street Analysts Think Cenovus (CVE) Could Surge 29%: Read This Before Placing a Bet
- The average of price targets set by Wall Street analysts indicates a potential upside of 28.9% in Cenovus (CVE). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.
- 07/29/2022
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Is a Beat in the Offing for Cenovus (CVE) in Q2 Earnings?
- Cenovus' (CVE) upstream operations are expected to have been aided by the favorable commodity price scenario in Q2.
- 07/26/2022
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Cenovus to hold second-quarter conference call and webcast July 28
- CALGARY, Alberta, July 25, 2022 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will release its second-quarter results on Thursday, July 28. The news release will provide consolidated second-quarter operating and financial information. Financial statements will be available on Cenovus's website.
- 07/25/2022
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6 Blue Chip Stocks Under $20 to Buy
- These are the top 6 blue chip stocks under $20 available right now that pay dividends and have low P/E multiples. Moreover, the earnings more than cover the dividends paid out.
- 07/18/2022
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Best Value Stocks to Buy for July 12th
- CVE, BRDG, and NMRK made it to the Zacks Rank #1 (Strong Buy) value stocks list on July 12, 2022.
- 07/12/2022
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Forget Occidental Petroleum: Here Are 4 Better Oil Picks
- OXY has been a strong performer this year. But it is by far not the best energy investment out there. Buffett has been buying, but his reasoning may be different compared to what retail investors are focusing on.
- 07/12/2022
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Is Most-Watched Stock Cenovus Energy Inc (CVE) Worth Betting on Now?
- Recently, Zacks.com users have been paying close attention to Cenovus (CVE). This makes it worthwhile to examine what the stock has in store.
- 07/07/2022
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3 Energy Stocks Trading With Low Price-to-Free-Cash-Flow Ratios
- To increase your chances of discovering value opportunities, one method is to screen the market for stocks with lower trailing 12-month price-to-free-cash-flow ratios than that of S&P Index, which stands at around 15.72 as of the time of writing.
- 07/06/2022
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Cenovus: Buy The Dip
- I believe recession fears on energy demand are overdone and the supply situation will keep prices elevated for an extended time. Cenovus continues to pay off debt and should transition to returning nearly all FCF to investors by 2023.
- 06/27/2022
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Deals by Cenovus and BP Dominate Oil & Gas Stock Roundup
- Apart from Cenovus Energy (CVE) and BP plc (BP), Eni (E), Cheniere Energy (LNG) and Matador Resources (MTDR) hog the limelight during the week.
- 06/22/2022
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5 Canadian Oil Companies Goldman Sachs Loves Now
- It is no secret that rising prices for crude oil have lifted the share prices of U.S.
- 06/21/2022
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Cenovus Energy: Finally Mr. Market Responds
- Funds flow from operating activities is many times the level before the first acquisition was made roughly 5 years ago. Despite considerable cash flow and earnings improvement, the stock price only recently began appreciating.
- 06/17/2022
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Cenovus to Acquire Remaining Stake in BP's Sunrise Project
- As part of the deal, Cenovus (CVE) will give up its 35% interest in Canada's Bay du Nord oil project to BP.
- 06/14/2022
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What Makes Cenovus Energy (CVE) a Strong Momentum Stock: Buy Now?
- Does Cenovus Energy (CVE) have what it takes to be a top stock pick for momentum investors? Let's find out.
- 06/10/2022
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Can Cenovus Energy Stock Keep Rising Or Is A Reversal In Store?
- Cenovus Energy has been a great performer, rising 15x from the lows seen in 2020. And yet, Cenovus isn't really expensive today. The company generates massive cash and looks rather cheap based on EV/EBITDA and when looking at net profits.
- 06/07/2022
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Cenovus Energy: Debt Down, Capital Returns Of 100% Of FCF In Q3
- Cenovus Energy is well-positioned to benefit from higher oil prices. Cenovus Energy declares that with its net debt below $9 billion, which it is at now, it will return 50% of its free cash flow to shareholders.
- 06/07/2022
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6 Undervalued Dividend Stocks Paying Yields Up to 2% Or More Now
- These six undervalued dividend stocks have good earnings and dividend growth prospects at cheap valuations, giving them good upside prospects. The post 6 Undervalued Dividend Stocks Paying Yields Up to 2% Or More Now appeared first on InvestorPlace.
- 06/03/2022
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7 Hot Stocks to Buy During the Next Market Crash
- These aren't likely the stocks you think about when you think about hot stocks, but that's what makes them so special. The post 7 Hot Stocks to Buy During the Next Market Crash appeared first on InvestorPlace.
- 06/01/2022
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6 Cheap Stocks To Buy Before They Take Off
- These 6 cheap stocks are worth buying given their low P/E valuations, good earnings prospects, and dividend yields. The post 6 Cheap Stocks To Buy Before They Take Off appeared first on InvestorPlace.
- 06/01/2022
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6 Great GARP Stocks to Buy to Get Growth at a Reasonable Price
- These GARP stocks have good earnings prospects for 2023 yet trade at very low price-to-earnings multiples right now. The post 6 Great GARP Stocks to Buy to Get Growth at a Reasonable Price appeared first on InvestorPlace.
- 05/30/2022
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Forget Oil, Look at Natural Gas
- The highest natural gas prices since 2008 … major supply/demand structural problems even before the war in Europe … the investment that just made Eric Fry's readers 340% A quick scheduling note before we jump in. Our offices will be closed on Monday as we celebrate Memorial Day.
- 05/27/2022
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Cenovus (CVE) Up 13.6% Since Last Earnings Report: Can It Continue?
- Cenovus (CVE) reported earnings 30 days ago. What's next for the stock?
- 05/27/2022
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Cenovus Energy - One Of The Best Oil Stocks
- 100% technical buy signals. 11 new highs and up 14.32% in the last month.
- 05/18/2022
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Cenovus Energy: Time To Start Looking For An Exit
- Whilst Cenovus Energy tripled their dividends when rolling out a new shareholder returns policy, it still heavily favors share buybacks. I would have preferred to see a greater weighting towards dividends but at least they are translating these triple-digit oil prices into massive free cash flow.
- 05/10/2022
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3 Canadian Oil Leaders That Will Boost Your Dividend Portfolio
- Why these 3 Canadian oil juggernauts should be on your radar
- 05/06/2022
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Cenovus Energy Is Delivering On All Cylinders And The Shares Should Go A Lot Higher
- Cenovus set the benchmark for how all E&Ps should report the capital return policy. With elevated refining margins, CVE will likely outperform on its free cash flow this year, resulting in more share buybacks or a higher variable dividend.
- 05/05/2022
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BP Beats Q1 Earnings Estimates, Announces Share Buyback
- Higher realizations of commodity prices aid BP's earnings in Q1.
- 05/03/2022
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Major Activist Investor Sees 50% Upside in This Canadian Oil Giant
- An activist investor wants to shake things up at Suncor Energy, including increasing its dividend.
- 05/03/2022
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Try Your Luck in My 3-Stock Derby
- Contestants who picked energy stocks did well in my 14th annual stock-picking contest. Almost everyone else did badly.
- 05/02/2022
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Cenovus (CVE) Misses Q1 Earnings Estimates, Hikes Dividend
- Increased transportation and blending expenses, and costs for purchased products hurt Cenovus' (CVE) earnings in Q1.
- 04/28/2022
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Why Cenovus Energy Shares Are Trading Higher Today
- Cenovus Energy Inc (NYSE: CVE) (TSX: CVE) reported a first-quarter basic EPS of C$0.81 compared to C$0.10 in 1Q21. Q1 total revenues increased to C$16.2 billion from C$13.7 billion in the previous quarter, driven by higher average realized sales prices for the company's products.
- 04/27/2022
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Cenovus Energy Inc. (CVE) CEO Alex Pourbaix on Q1 2022 Results - Earnings Call Transcript
- Cenovus Energy Inc. (NYSE:CVE ) Q1 2022 Earnings Conference Call April 27, 2022 11:00 AM ET Company Participants Sherry Wendt - Vice President, Investor Relations Alex Pourbaix - President and Chief Executive Officer Jonathan McKenzie - Executive Vice President and Chief Operating Officer Joseph Drew - Executive Vice President, Natural Gas & Technical Services Kam Sandhar - Executive Vice President, Strategy & Corporate Development Keith Chiasson - Executive Vice President, Downstream Norrie Ramsay - Executive Vice President, Upstream, Thermal, Major Projects & Offshore Conference Call Participants Dennis Fong - CIBC Capital Markets Greg Pardy - RBC Capital Markets Phil Gresh - JPMorgan Neil Mehta - Goldman Sachs Manav Gupta - Credit Suisse Operator Good day, ladies and gentlemen, and thank you for standing by. Welcome to Cenovus Energy's First Quarter Results.
- 04/27/2022
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Cenovus to hold first-quarter conference call and webcast; virtual annual meeting of shareholders on April 27
- CALGARY, Alberta, April 20, 2022 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will release its first-quarter results on Wednesday, April 27. The news release will provide consolidated first-quarter operating and financial information. Financial statements will be available on Cenovus's website, cenovus.com.
- 04/20/2022
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3 Stocks With Momentum Anomaly to Create a Winning Portfolio
- ConocoPhillips (COP), Cenovus Energy (CVE) and CF Industries Holdings (CF) are currently witnessing a short-term pullback in price. So, make sure you take full advantage of it.
- 04/18/2022
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Here Is Why Bargain Hunters Would Love Fast-paced Mover Cenovus (CVE)
- Cenovus (CVE) made it through our 'Fast-Paced Momentum at a Bargain' screen and could be a great choice for investors looking for stocks that have gained strong momentum recently but are still trading at reasonable prices.
- 04/11/2022
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Cenovus Energy: Cash Flood
- Cenovus Energy: Cash Flood
- 04/06/2022
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Cenovus Energy: Mixed Opportunity Looking Ahead
- Cenovus Energy mismanages its hedge book. Investors seeking a high dividend-paying oil and gas company are likely to be disappointed. On the plus side, if oil and gas prices remain high, starting Q2 2022 Cenovus could continue to see improved free fund flows.
- 04/06/2022
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Has Cenovus Energy (CVE) Outpaced Other Oils-Energy Stocks This Year?
- Here is how Cenovus Energy (CVE) and Helmerich & Payne (HP) have performed compared to their sector so far this year.
- 04/01/2022
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Here's Why Cenovus Energy (CVE) is a Great Momentum Stock to Buy
- Does Cenovus Energy (CVE) have what it takes to be a top stock pick for momentum investors? Let's find out.
- 03/28/2022
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Here Is Why Bargain Hunters Would Love Fast-paced Mover Cenovus (CVE)
- Cenovus (CVE) made it through our 'Fast-Paced Momentum at a Bargain' screen and could be a great choice for investors looking for stocks that have gained strong momentum recently but are still trading at reasonable prices.
- 03/22/2022
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3 Stocks With Momentum Anomaly to Create a Winning Portfolio
- Devon Energy (DVN), Cenovus Energy (CVE) and Marathon Oil (MRO) are currently witnessing a short-term pullback in price. So, make sure you take full advantage of it.
- 03/15/2022
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Cenovus Energy: A Stronghold With Great Shareholder Prioritization
- Cenovus Energy has had greater emphasis on shareholder returns through dividend doubling in Q4 2021, and share buybacks through NCIB.
- 03/15/2022
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Cenovus (CVE) Up 5.3% Since Last Earnings Report: Can It Continue?
- Cenovus (CVE) reported earnings 30 days ago. What's next for the stock?
- 03/10/2022
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Cenovus Energy (CVE): Strong Industry, Solid Earnings Estimate Revisions
- Cenovus Energy (CVE) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.
- 03/10/2022
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Canadian Oil Stocks: Why Are SU, IMO, CVE, CNQ Stocks on the Move Today?
- Canadian oil stocks are rising as the U.S. considers making a deal to achieve energy independence. Here are the names investors should know.
- 03/07/2022
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Best Momentum Stocks to Buy for March 7th
- CVE, GLNG, and CVX made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on March 7, 2022.
- 03/07/2022
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New Strong Buy Stocks for March 7th
- AGCO, CVE, CROX, GPI, and JWN have been added to the Zacks Rank #1 (Strong Buy) List on March 7, 2022.
- 03/07/2022
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Cenovus Energy: No Choice But Higher Shareholder Returns With $100 Oil Prices
- Now that oil prices are north of $100 per barrel, it makes shareholder returns an even hotter topic for oil and gas companies, such as Cenovus Energy.
- 03/06/2022
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My Top Things To Expect This Week
- This week will bring earnings that give insight into multiple investment themes and other important events that you should watch out for. The post My Top Things To Expect This Week appeared first on InvestorPlace.
- 02/28/2022
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10 Canadian Energy Stocks to Buy Now
- Alberta announced it will balance its 2022/2023 budget, the first Canadian province to do so. That's great news for Canadian energy stocks.
- 02/28/2022
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Is Cenovus Energy (CVE) Outperforming Other Oils-Energy Stocks This Year?
- Here is how Cenovus Energy (CVE) and Black Stone Minerals (BSM) have performed compared to their sector so far this year.
- 02/28/2022
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The Stealth Bear Market: Nearing an End or More Pain Ahead?
- The Stealth Bear Market: Nearing an End or More Pain Ahead?
- 02/17/2022
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Inflation Beyond the Fed's Control? How to Play Safe
- Here are 5 stocks to beat the inflation.
- 02/14/2022
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Cenovus Energy (CVE) Is Up 7.06% in One Week: What You Should Know
- Does Cenovus Energy (CVE) have what it takes to be a top stock pick for momentum investors? Let's find out.
- 02/11/2022
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Cenovus (CVE) Upgraded to Strong Buy: Here's Why
- Cenovus (CVE) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
- 02/11/2022
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Despite Fast-paced Momentum, Cenovus (CVE) Is Still a Bargain Stock
- Cenovus (CVE) could be a great choice for investors looking to buy stocks that have gained strong momentum recently but are still trading at reasonable prices. It is one of the several stocks that made it through our 'Fast-Paced Momentum at a Bargain' screen.
- 02/11/2022
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New Strong Buy Stocks for February 11th
- ACGL, BAK, CVE, HOG, and FBIZ have been added to the Zacks Rank #1 (Strong Buy) List on February 11th.
- 02/11/2022
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Cenovus Energy (CVE) Q4 Earnings & Revenues Beat Estimates
- Higher daily oil sand production and increased contributions from Christina Lake and Foster Creek operations aid Cenovus Energy's (CVE) Q4 earnings.
- 02/09/2022
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Cenovus Energy Inc. (CVE) CEO Alex Pourbaix on Q4 2021 Results - Earnings Call Transcript
- Cenovus Energy Inc. (CVE) CEO Alex Pourbaix on Q4 2021 Results - Earnings Call Transcript
- 02/08/2022
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Cenovus Energy: More Synergies On The Horizon
- The latest combination is proving to be yet another bargain. This company has made substantial progress since disposing of the ConocoPhillips Partnership.
- 02/03/2022
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Cenovus to hold Q4 conference call and webcast on February 8
- CALGARY, Alberta, Feb. 01, 2022 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will release its fourth quarter and full-year 2021 results on Tuesday, February 8. The news release will provide consolidated fourth quarter and full-year operating and financial information.
- 02/01/2022
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Cenovus Energy: The Party Is Just Getting Started
- Cenovus is going to see massive gains in 2022 due to the oil price being higher than expected.
- 01/28/2022
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7 Stocks to Buy That Doubled in 2021 and Could Again in 2022
- The S&P 500 had a great year in 2021. Stocks doubling last year will have a tough time repeating.
- 01/14/2022
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Cenovus: The Best Oil Stock For 2022
- Cenovus is my largest position and I believe it is the best way to play a strong crude environment in 2022. Even after a strong performance in 2021, Cenovus is still trading at a forward Enterprise Value/Free Cash Flow of ~4 with WTI at $77.
- 12/27/2021
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AMZA: DUC Tales
- AMZA: DUC Tales
- 12/22/2021
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Cenovus Energy: Rapid Cash Flow Growth Continues
- Cenovus Energy: Rapid Cash Flow Growth Continues
- 12/22/2021
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Cenovus (CVE) Scores Deal to Divest Alberta's Tucker Assets
- Cenovus (CVE) will use the proceeds from the transaction to reduce the debt burden and improve its ability to raise shareholder returns.
- 12/17/2021
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Cenovus Energy Stock (CVE): Why The Price Increased Today
- The stock price of Cenovus Energy Inc (NYSE: CVE) increased by over 1.7% today. This is why it happened.
- 12/17/2021
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Cenovus (CVE) Guides for 2022 Production & Capital Spending
- With higher capital spending, Cenovus Energy (CVE) expects its production to improve year over year in 2022.
- 12/09/2021
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Cenovus (CVE) Down 1.5% Since Last Earnings Report: Can It Rebound?
- Cenovus (CVE) reported earnings 30 days ago. What's next for the stock?
- 12/03/2021
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Cenovus Energy: Shareholders Are Going To Get Paid
- Cenovus is going to double the dividend and begin to buy back shares as they have hit their debt targets, and hit them early. Cenovus is a cash machine right now thanks to unhedged exposure to rising oil prices.
- 11/17/2021
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Cenovus Energy: Dividends Doubled, Buy Now To Line Up A 7%+ Yield
- Cenovus Energy: Dividends Doubled, Buy Now To Line Up A 7%+ Yield
- 11/17/2021
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New Strong Buy Stocks for November 12th
- ETD, MATX, TMST, CVE, and YELP have been added to the Zacks Rank #1 (Strong Buy) List on November 12th.
- 11/12/2021
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Cenovus Energy (CVE) Gains 9.7% Despite Q3 Earnings Miss
- Higher daily oil sand production aids Cenovus Energy's (CVE) Q3 earnings.
- 11/10/2021
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Cenovus Energy Inc. (CVE) CEO Alex Pourbaix on Q3 2021 Results - Earnings Call Transcript
- Cenovus Energy Inc. (CVE) CEO Alex Pourbaix on Q3 2021 Results - Earnings Call Transcript
- 11/03/2021
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E&P Earnings Point To Headwinds For Midstream
- E&P Earnings Point To Headwinds For Midstream
- 11/02/2021
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Earnings Previews: Cenovus Energy, Discovery, Norwegian Cruise Lines
- More than 1,500 companies are expected to report quarterly earnings this week. Of nine in our watch list for Monday morning, three missed profit estimates and four missed revenue estimates.
- 11/01/2021
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Cenovus to hold Q3 conference call and webcast on November 3
- CALGARY, Alberta, Oct. 27, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will release its 2021 third quarter results on Wednesday, November 3. The news release will provide consolidated third quarter operating and financial information. Financial statements will be available that day on Cenovus's website.
- 10/27/2021
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Cenovus and Headwater announce the closing of $227.5 million bought deal secondary offering of Headwater common shares
- Not for distribution to U.S. newswire services or dissemination in the United States
- 10/14/2021
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Cenovus Energy Makes A Multi-Year Breakout And Why Investors Need To Own This Name
- Cenovus Energy Makes A Multi-Year Breakout And Why Investors Need To Own This Name
- 10/12/2021
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Cenovus Energy: Bigger, Better And Stronger
- Operational excellence and execution.
- 10/07/2021
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Cenovus (CVE) Jumps 30.7% in 6 Months: More Room to Run?
- Cenovus Energy's (CVE) restructuring of its stakes in the Atlantic region with respective partners in Terra Nova and White Rose projects is likely to improve the company's economics.
- 09/28/2021
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Cenovus and Headwater announce increase to previously announced bought deal secondary offering of Headwater common shares
- Not for distribution to U.S. newswire services or dissemination in the United States
- 09/28/2021
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Cenovus and Headwater announce bought deal secondary offering of Headwater common shares worth approximately $114 million
- Not for distribution to U.S. newswire services or dissemination in the United States
- 09/27/2021
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Cenovus announces the Pricing Terms of its Pending Maximum Tender Offer
- CALGARY, Alberta, Sept. 23, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced the pricing terms of its previously announced cash tender offer (the “Maximum Tender Offer”) for up to an increased maximum aggregate purchase price of $1,250,000,000 (such increased aggregate purchase price, the “Maximum Aggregate Purchase Price”) of its outstanding 3.800% Notes due 2023 (the “2023 Notes”), its outstanding 4.000% Notes due 2024 (the “2024 Notes”), its outstanding 5.375% Notes due 2025 (the “2025 Notes”), its outstanding 4.250% Senior Notes due 2027 (the “2027 Notes”) and its outstanding 4.400% Notes due 2029 (the “2029 Notes” and, together with the 2023 Notes, the 2024 Notes, the 2025 Notes and the 2027 Notes, the “Maximum Tender Offer Notes”). As previously announced, Cenovus has eliminated the Series Tender Cap (as defined in the Offer to Purchase dated September 9, 2021 (the “Offer to Purchase”)) for the 2025 Notes. The terms and conditions of the Maximum Tender Offer are described in the Offer to Purchase.
- 09/23/2021
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Cenovus announces Expiration and Results of Any and All Tender Offer
- CALGARY, Alberta, Sept. 15, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced that its previously announced cash tender offer (the “Any and All Tender Offer”) for any and all of its outstanding 3.950% Notes due 2022 (the “3.950% Notes”) and 3.000% Notes due 2022 (the “3.000% Notes” and, together with the 3.950% Notes, the “Any and All Notes”) (CUSIP Nos. 448055AJ2 and 15135UAG4, respectively) expired at 5:00 p.m., New York City time, on September 15, 2021. According to information provided by D.F. King & Co., Inc., the tender and information agent for the Any and All Tender Offer, $252,644,000 aggregate principal amount of the 3.950% Notes and $294,017,000 aggregate principal amount of the 3.000% Notes were validly tendered and not validly withdrawn prior to or at the expiration of the Any and All Tender Offer. This amount excludes $1,273,000 aggregate principal amount of the 3.950% Notes and $29,464,000 aggregate principal amount of the 3.000% Notes tendered pursuant to the guaranteed delivery procedures described in the Offer to Purchase, dated September 9, 2021 (the “Offer to Purchase”), and the related notice of guaranteed delivery provided in connection with the Any and All Tender Offer, which remain subject to the holders' performance of the delivery requirements under such procedures. The obligation of Cenovus to accept any Any and All Notes tendered and to pay the consideration for the Any and All Notes is subject to satisfaction or waiver of certain conditions and other terms set forth solely in the Offer to Purchase. If the conditions are satisfied or waived, Cenovus expects to pay for such Any and All Notes on September 16, 2021 (the “Any and All Settlement Date”).
- 09/15/2021
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Cenovus announces the Pricing Terms of its Pending Any and All Tender Offer
- CALGARY, Alberta, Sept. 15, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced the pricing terms of its previously announced cash tender offer (the “Any and All Tender Offer”) for any and all of its outstanding 3.950% Notes due 2022 and its outstanding 3.000% Notes due 2022 (collectively, the “Any and All Notes”). The terms and conditions of the Any and All Tender Offer are described in the Offer to Purchase, dated September 9, 2021 (the “Offer to Purchase”). The Any and All Tender Offer will expire at 5:00 p.m., New York City time, today, September 15, 2021, unless extended or earlier terminated.
- 09/15/2021
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Cenovus announces closing of US$1.25 billion offering of senior notes
- CALGARY, Alberta, Sept. 13, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has completed a public offering in the United States (the “Offering”) of US$1,250,000,000 in senior notes, consisting of US$500,000,000 of 2.650% senior unsecured notes due 2032 and US$750,000,000 of 3.750% senior unsecured notes due 2052 (collectively, the “Notes”). The Notes were issued under Cenovus's short form base shelf prospectus dated September 19, 2019 and a prospectus supplement dated September 9, 2021 filed with securities regulatory authorities in Canada and the United States.
- 09/13/2021
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Cenovus announces Cash Tender Offers for Certain Outstanding Notes
- CALGARY, Alberta, Sept. 09, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced it has commenced tender offers (each individually, with respect to a series of notes, a “Tender Offer”, and collectively, the “Tender Offers”) to purchase for cash (1) any and all of its outstanding 3.950% Notes due 2022 and its outstanding 3.000% Notes due 2022 (the “Any and All Tender Offer” and such notes, collectively, the “Any and All Notes”) and (2) up to a maximum aggregate purchase price of $1,000,000,000 (such aggregate purchase price, the “Maximum Aggregate Purchase Price”) of its outstanding 3.800% Notes due 2023, its outstanding 4.000% Notes due 2024, its outstanding 5.375% Notes due 2025, its outstanding 4.250% Senior Notes due 2027 and its outstanding 4.400% Notes due 2029 (the “Maximum Tender Offer” and such notes, collectively, the “Maximum Tender Offer Notes”, and the Maximum Tender Offer Notes together with the Any and All Notes, the “Securities”), subject to the acceptance priority levels and the Series Tender Caps (as defined below) noted in the second table below.
- 09/09/2021
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Cenovus announces Atlantic assets restructuring plan
- CALGARY, Alberta, Sept. 08, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has entered into agreements with its partners in the Atlantic region to restructure its working interests in the Terra Nova and White Rose projects, providing improved economics for the company's regional portfolio.
- 09/08/2021
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Cenovus Energy: Lots Of Cash Flow, With More On The Way
- Cash flow appears to be about to double the old quarterly rate yet again. Thermal companies often generate a lot of free cash flow even when losing money. This points up yet another free cash flow measurement weakness.
- 09/06/2021
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Cenovus Is Worth A Shot
- The Husky merger was completed successfully. Cenovus is now a major integrated oil & gas company but upstream operations are the source of its profits.
- 08/27/2021
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Cenovus Energy Trading At 4 Times Annualized Free Cash Flow
- Cash flow exploded upwards with stronger commodity pricing.
- 08/26/2021
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Cenovus Smashes Earnings As Synergy Savings Are Well Underway
- Cenovus is minting money with oil prices averaging above $70/bbl. Q2 saw oil prices average below this, and CVE hit the figures out of the park.
- 08/03/2021
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Cenovus Energy Inc. (CVE) CEO Alex Pourbaix on Q2 2021 Results - Earnings Call Transcript
- Cenovus Energy Inc. (CVE) CEO Alex Pourbaix on Q2 2021 Results - Earnings Call Transcript
- 07/29/2021
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Cenovus Generates $1.8 Billion in Adjusted Funds Flow in Q2 2021
- Delivers free funds flow of $1.3 billion
- 07/29/2021
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Cenovus to hold Q2 conference call and webcast on July 29
- CALGARY, Alberta, July 22, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will release its 2021 second quarter results on Thursday, July 29. The news release will provide consolidated second quarter operating and financial information. Financial statements will be available that day on Cenovus's website.
- 07/22/2021
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Market Outlook: What Stocks Are Down Today?
- We're at the halfway point for Monday and now is a good time to check in with a market outlook of what stocks are doing today. The post Market Outlook: What Stocks Are Down Today?
- 07/19/2021
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This Oil Stock Expects to Produce a Gusher of Cash Over the Coming Decade
- Most of that money will make its way back to shareholders.
- 07/01/2021
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Cenovus Energy Continues To Be Incredibly Undervalued
- CVE is trading at an incredible valuation (~31% FCF yield) for this quality of a business.
- 06/30/2021
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Cenovus (CVE): Strong Industry, Solid Earnings Estimate Revisions
- Cenovus (CVE) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.
- 06/11/2021
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Canada's Oil Sands Producers Sign Up for 2050 Zero Emission
- The tie-up between Suncor (SU) and other Canadian oil sands producers follows the grant of sizeable sops for emission-reduction project and infrastructure by the administration of Canada and Alberta.
- 06/10/2021
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Canada's largest oil sands producers announce unprecedented alliance to achieve net zero greenhouse gas emissions
- CALGARY, Alberta, June 09, 2021 (GLOBE NEWSWIRE) -- Canadian Natural Resources, Cenovus Energy, Imperial, MEG Energy and Suncor Energy formally announced today the Oil Sands Pathways to Net Zero initiative. These companies operate approximately 90% of Canada's oil sands production. The goal of this unique alliance, working collectively with the federal and Alberta governments, is to achieve net zero greenhouse gas (GHG) emissions from oil sands operations by 2050 to help Canada meet its climate goals, including its Paris Agreement commitments and 2050 net zero aspirations.
- 06/09/2021
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Cenovus Energy: Big Quarter Hidden By The Husky Merger
- Reduction in the cost of Husky's thermal operations is underway.
- 06/08/2021
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Why ConocoPhillips, Cenovus Energy, and Marathon Oil Stocks All Popped Today
- Oil demand is coming back, and OPEC is raising production.
- 06/01/2021
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5 Sizzling Energy Stocks Trading Under $10 With Oil Closing in on $70 a Barrel
- While most of Wall Street focuses on large-cap and mega-cap stocks, as they provide a degree of safety and liquidity, many investors are limited in the number of shares they can buy.
- 05/29/2021
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Cenovus (CVE) Divests Marten Hills Royalty Interest to Topaz
- Cenovus Energy (CVE) receives gross cash proceeds of C$102 million from the latest divestment.
- 05/19/2021
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Cenovus sells Marten Hills royalty interest for more than $100 million
- CALGARY, Alberta, May 18, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has sold its gross overriding royalty (GORR) in the Marten Hills area of Alberta to Topaz Energy Corp. for gross cash proceeds of $102 million. The sale successfully closed today with a May 1, 2021 effective date. Cenovus will use the sale proceeds to reduce net debt, consistent with its commitment to use non-core asset sales to accelerate deleveraging to achieve the company's interim net debt target of $10 billion.
- 05/18/2021
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Cenovus reports voting results of election of Directors
- CALGARY, Alberta, May 12, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced that at its annual meeting of shareholders held on May 12, 2021, each of the 12 nominees proposed as Directors and listed in its Management Information Circular dated March 15, 2021 were elected as Directors. The detailed results of the vote are set out below.
- 05/12/2021
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Cenovus (CVE) Declines 3.1% Since Q1 Earnings Miss Estimates
- Severe winter in parts of the United States hurts Cenovus (CVE) in the first quarter.
- 05/12/2021
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Cenovus: Free Cash Flow Generating Abilities Will Allow It To Buy Back ConocoPhillips Stake
- CVE shares remain very undervalued.
- 05/11/2021
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Cenovus Energy Inc. (CVE) CEO Alex Pourbaix on Q1 2021 Results - Earnings Call Transcript
- Cenovus Energy Inc. (CVE) CEO Alex Pourbaix on Q1 2021 Results - Earnings Call Transcript
- 05/07/2021
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Cenovus makes strong progress on Husky integration and synergies
- Generates $1.1 billion in adjusted funds flow in first quarter 2021 Generates $1.1 billion in adjusted funds flow in first quarter 2021
- 05/07/2021
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ConocoPhillips stock jumps after earnings beat, plans for share repurchases and sales of Cenovus stake
- Shares of ConocoPhillips climbed 1.8% in premarket trading Tuesday, after the oil and gas company reported first-quarter earnings that beat expectations, and announced the resumption of share repurchases and plans to start selling off its Cenovus Energy Inc. stake. The company swung to net income of $1.0 billion, or 75 cents a share, from a loss of $1.7 billion, or $1.60 a share, in the year-ago period.
- 05/04/2021
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Cenovus to hold first-quarter conference call and webcast on May 7
- Virtual Annual Meeting of Shareholders to follow on May 12 Virtual Annual Meeting of Shareholders to follow on May 12
- 05/03/2021
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Cenovus announces commencement of Consent Solicitation with respect to Cenovus's 6.80% Notes due 2037
- CALGARY, Alberta, April 12, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced that it has commenced a consent solicitation (the “Consent Solicitation”) with respect to a proposed amendment to the pledge agreement (the “2037 Notes Pledge Agreement”) in respect of Cenovus's outstanding 6.80% Notes due 2037 (the “2037 Notes”). The 2037 Notes were issued under an indenture, dated as of September 11, 2007 (as supplemented and amended, the “Indenture”) between Cenovus (as successor by amalgamation to Husky Energy Inc. (“Husky”)) and Wells Fargo Bank, National Association (as successor trustee to The Bank of Nova Scotia Trust Company of New York) (the “Trustee”). The Indenture also governs the outstanding 4.40% Notes due 2029 (the “2029 Notes”), 4.00% Notes due 2024 (the “2024 Notes”) and 3.95% Notes due 2022 (the “2022 Notes”) of Cenovus (in each case, originally issued by Husky).
- 04/12/2021
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5 Sizzling Energy Stocks to Buy Trading Under $10 With Oil Near $60
- While most of Wall Street focuses on large-cap and mega-cap stocks, as they provide a degree of safety and liquidity, many investors are limited in the number of shares they can buy.
- 04/10/2021
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Cenovus (CVE) Sets Climate Targets to Attain Carbon Neutrality
- Cenovus (CVE) sets new targets of reaching net-zero emissions, while sticking to its core oil and gas business, to win over eco-minded investors.
- 04/08/2021
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Cenovus (CVE) Halts Husky Retail Fuel Station Sale: Here's Why
- Cenovus Energy (CVE) expects higher commodity prices to omit the requirement of divesting assets.
- 04/08/2021
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Cenovus Energy (CVE): Strong Industry, Solid Earnings Estimate Revisions
- Cenovus Energy (CVE) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.
- 04/06/2021
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Cenovus completes amalgamation with Husky Energy Inc.
- CALGARY, Alberta, March 31, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced today that effective March 31, 2021, its wholly owned subsidiary Husky Energy Inc. (“Husky”) has been amalgamated with Cenovus under the provisions of the Canada Business Corporations Act (the “amalgamation”). The company will continue to operate as Cenovus Energy Inc.
- 03/31/2021
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Renewables Versus Oil & Gas - Be Smart, Choose What's Best
- In 2020, renewable energy was a winning investment theme, as the sector benefited from environmental, social, and governance (ESG) investment trends and a favorable political backdrop.
- 03/19/2021
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For Investors Who Remain Risk Averse, Large-Cap Canadian E&Ps Remain Solid Buys
- Large-cap Canadian E&Ps remain solid buys.
- 03/15/2021
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Why Cenovus (CVE) Stock Might be a Great Pick
- Cenovus (CVE) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.
- 03/05/2021
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Cenovus Energy: Financial Reasons For Merger
- The merger gives management a lot of work to do fast.
- 03/03/2021
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Cenovus provides Series 1 and Series 2 First Preferred Shares conversion privilege notice, Series 1 and Series 2 First Preferred Shares dividend rate notice
- CALGARY, Alberta, March 01, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) is providing notice the company does not intend to exercise its right to redeem its Cumulative Redeemable First Preferred Shares, Series 1 (Series 1 Shares) and Cumulative Redeemable First Preferred Shares, Series 2 (Series 2 Shares) on March 31, 2021. As a result, subject to certain conditions:
- 03/01/2021
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Taking Profits On Cenovus Preferred Shares, As Better Returns Now Appear Elsewhere
- The Cenovus preferred shares have been a big winner in my portfolio since November when I originally recommended them. The deal has closed and the Husky preferreds have converted to Cenovus.
- 02/27/2021
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Cenovus Energy (CVE) Q4 Earnings Lag, '21 Capital Budget Set
- Lower contributions from oil sands operations hurt Cenovus Energy's (CVE) Q4 earnings.
- 02/10/2021
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Cenovus reports 2020 fourth-quarter and full-year results
- CALGARY, Alberta, Feb. 09, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) responded to extreme oil price volatility in 2020 by quickly reducing capital spending as well as strategically managing oil sands production and purchasing curtailment credits to achieve increased output when prices were more favourable. The company generated positive free funds flow in the fourth quarter, partially offsetting the impact of low oil prices on its full-year results. Cenovus's planned combination with Husky Energy, announced in the fourth quarter, closed January 1, 2021. The company exited 2020 with net debt of $7.2 billion.
- 02/09/2021
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Headwater Exploration: About Face
- Headwater Exploration: About Face
- 02/09/2021
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Huge Upside Potential in 5 Stocks Trading Under $10
- While most of Wall Street focuses on large-cap and mega-cap stocks, as they provide a degree of safety and liquidity, many investors are limited in the number of shares they can buy.
- 01/30/2021
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2021 budget to achieve nearly $1 billion of synergies in first year
- CALGARY, Alberta, Jan. 28, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has delivered a disciplined 2021 capital budget focused on maintaining safe and reliable operations while positioning the company to drive enhanced shareholder value. The budget includes sustaining capital of approximately $2.1 billion to deliver upstream production of approximately 755,000 barrels of oil equivalent per day (BOE/d) and downstream throughput of approximately 525,000 barrels per day (bbls/d).
- 01/28/2021
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Cenovus Energy: A Heavy Oil Juggernaut
- The new Cenovus has many advantages. In this article, we will discuss the key ones we see playing a role in the company's fortunes in 2021 and beyond.
- 01/26/2021
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Cenovus to announce 2021 budget and production forecast
- CALGARY, Alberta, Jan. 21, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) will release its planned 2021 capital expenditure and production guidance on Thursday, January 28, 2021.
- 01/21/2021
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Cenovus (CVE) Jumps 61.4% in 3 Months: More Room to Run?
- Cenovus Energy's (CVE) strategic acquisition of Husky Energy has created the third-biggest energy producer in Canada.
- 01/12/2021
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When It Comes To Energy Stocks, Buy Canadian
- When It Comes To Energy Stocks, Buy Canadian
- 01/11/2021
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Cenovus (CVE) Closes All-Stock Merger Deal With Husky Energy
- Cenovus (CVE) expects the combined entity to have a production capacity of 750,000 Boe/d.
- 01/05/2021
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Cenovus closes transaction to combine with Husky
- CALGARY, Alberta, Jan. 04, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) is pleased to announce that its strategic combination with Husky Energy Inc. has closed. The transaction creates a resilient integrated energy leader that is well positioned to provide superior returns for investors over the long term, as well as strong environmental, social and governance (ESG) performance.
- 01/04/2021
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Energy M&A: 5 Biggest Deals of 2020 & the Outlook for 2021
- Big energy companies, such as Chevron (CVX), Pioneer Natural (PXD), ConocoPhillips (COP), Cenovus Energy (CVE) and Devon Energy (DVN) recently acquired smaller firms with attractive asset bases.
- 12/28/2020
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Strategic combination plan receives all key regulatory approvals
- Transaction scheduled to close January 1 Transaction scheduled to close January 1
- 12/21/2020
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Cenovus (CVE) Receives Shareholder Approval for Husky Takeover
- Cenovus' (CVE) merger deal with Husky Energy has been approved by shareholders of both companies to generate yearly savings of $1.2 billion.
- 12/18/2020
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Cenovus and Husky announce Court of Queen's Bench approval of proposed business combination
- CALGARY, Alberta, Dec. 16, 2020 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) and Husky Energy Inc. (TSX: HSE) are pleased to announce the Court of Queen's Bench of Alberta has issued a final order approving the previously announced Plan of Arrangement to combine the two companies. The court's approval follows separate votes held on December 15, 2020 in which Cenovus common shareholders and Husky common shareholders, optionholders and preferred shareholders supported the proposed transaction to combine the two companies into a resilient integrated energy leader.
- 12/16/2020
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Cenovus and Husky shareholders approve proposed business combination
- CALGARY, Alberta, Dec. 15, 2020 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) and Husky Energy Inc. (TSX: HSE) are pleased to announce that securityholders from both companies have voted to support the proposed transaction, announced October 25, 2020, to combine the two companies into a resilient integrated energy leader.
- 12/15/2020
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Sale of Cenovus's Marten Hills oil assets to Headwater Exploration closes
- CALGARY, Alberta, Dec. 02, 2020 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) and Headwater Exploration Inc. (TSX:HWX) are pleased to announce the closing of the acquisition by Headwater of Cenovus's assets in the Marten Hills area of Alberta. Pursuant to the transaction, Headwater acquired a 100% working interest in approximately 2,800 barrels per day of medium gravity oil production and 270 net sections of Clearwater rights.
- 12/02/2020
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Cenovus Energy Hits A Homerun With Husky Deal
- This announcement will combine excess refining capacity with excess production capacity. It also gives the Husky refineries access to lower-cost Cenovus feedstock.
- 11/22/2020
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Cenovus and Husky announce leadership team for combined company
- CALGARY, Alberta, Nov. 20, 2020 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) and Husky Energy Inc. (TSX: HSE) are pleased to announce the executive leadership team that is expected to lead the combined company created through the strategic combination of Cenovus and Husky announced on October 25, 2020.
- 11/20/2020
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Cenovus Energy's Acquisition Of Husky Makes It A Must-Own In The Energy Sector
- This is the type of energy deals that make sense and unlike the PXD/PE transaction. The two weaknesses of both companies are resolved with this merger. CVE had a WCS-WTI uncertainty weakness. Husky had a high opex/boe and not enough production problems.
- 11/19/2020
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Cenovus and Husky to hold special shareholder meetings on proposed Plan of Arrangement
- Shareholders asked to vote in favour of board-approved agreement to combine businesses Shareholders asked to vote in favour of board-approved agreement to combine businesses
- 11/16/2020
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Cenovus reaches agreement to accelerate development of its Marten Hills oil assets
- CALGARY, Alberta, Nov. 09, 2020 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE), through a wholly owned partnership, has entered into a definitive agreement to sell its Marten Hills oil assets in northern Alberta to Headwater Exploration Inc. for initial cash and common share equity consideration of approximately $100 million.
- 11/09/2020
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Cenovus Energy Inc. (CVE) CEO Alex Pourbaix on Q3 2020 Results - Earnings Call Transcript
- Cenovus Energy Inc. (CVE) CEO Alex Pourbaix on Q3 2020 Results - Earnings Call Transcript
- 10/29/2020
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Cenovus Energy CEO 'not worried' about Husky deal approval as results disappoint
- The chief executive of Cenovus Energy said he is confident shareholders will approve its acquisition of rival Husky Energy, despite big quarterly losses and a stock sell-off.
- 10/29/2020
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Cenovus Energy to buy Husky Energy for $24 billion
- Canadian oil and gas producer Cenovus Energy Inc will buy peer Husky Energy Inc in an all-stock transaction valued at $23.6 billion, inclusive of debt, the companies said in a joint statement on Sunday.
- 10/25/2020
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Cenovus Energy to buy Husky Energy in an all-stock deal valued at $23.6 billion
- Cenovus Energy Inc will buy Husky Energy Inc in an all-stock transaction valued at $23.6 billion, the companies said in a statement on Sunday.
- 10/25/2020
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Cenovus Energy and Husky Energy to hold joint conference call and webcast on transaction
- CALGARY, Alberta, Oct. 25, 2020 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) and Husky Energy Inc. (TSX: HSE) will host a joint conference call and webcast today, Sunday, October 25, 2020, starting at 11:00 a.m. MT (1:00 p.m. ET) to discuss their proposed transaction to create a new integrated Canadian oil and natural gas company.
- 10/25/2020
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Cenovus and Husky Combine to Create a Resilient Integrated Energy Leader
- Combination of complementary businesses will result in $1.2 billion in cost and capital synergies, enhance free funds flow generation and support investment grade credit profile Combination of complementary businesses will result in $1.2 billion in cost and capital synergies, enhance free funds flow generation and support investment grade credit profile
- 10/25/2020
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Booted Exxon Gets All The Attention While The Big Winner (Chevron) Gets Ignored
- It's ironic that all eyes have been on Exxon since it was booted out of the DJIA, while the clear winner - Chevron - has been almost totally ignored.
- 08/31/2020
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PRESS DIGEST-Canada - Aug 17
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RPT-As Canada curbs methane emissions, new measurements show problem bigger than thought
- Reported greenhouse gas emissions from Canada's oilpatch have more than doubled in the year's first half as changes to how they are measured revealed a more extensive picture of environmental damage, previously unreported industry data show. Prime Minister Justin Trudeau's government, which has set a goal of making Canada carbon-neutral by 2050, launched a national program on Jan. 1 to better measure and reduce methane emissions. Alberta aims to slash methane emissions by 45% by 2025 from 2014 levels.
- 08/17/2020
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Suncor: Production And Refining Hemmed In
- Like most energy companies, Suncor has been heavily affected by the demand destruction caused by Covid-19.
- 08/17/2020
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As Canada curbs methane emissions, new measurements show problem bigger than thought
- Reported greenhouse gas emissions from Canada's oilpatch have more than doubled in the year's first half as changes to how they are measured revealed a more extensive picture of environmental damage, previously unreported industry data show. Prime Minister Justin Trudeau's government, which has set a goal of making Canada carbon-neutral by 2050, launched a national program on Jan. 1 to better measure and reduce methane emissions. Alberta aims to slash methane emissions by 45% by 2025 from 2014 levels.
- 08/16/2020
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10 Biggest Canadian Oil & Gas Companies
- With Enbridge leading the pack, these are the 10 biggest Canadian oil & gas companies by 12-month trailing revenue.
- 07/30/2020
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Cenovus announces closing of US$1 billion offering of senior notes
- CALGARY, Alberta, July 30, 2020 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has completed a public offering in the United States (the “Offering”) of US$1,000,000,000 in 5.375% senior unsecured notes due 2025 (the “Notes”). The Notes were issued under Cenovus’s short form base shelf prospectus dated September 19, 2019 and a prospectus supplement dated July 28, 2020 filed with securities regulatory authorities in Canada and the United States. The net proceeds of the Offering will be used to repay short-term indebtedness outstanding under the company’s $4.5 billion committed credit facility and other short-term indebtedness.BofA Securities, Inc., BMO Capital Markets Corp. and Scotia Capital (USA) Inc. acted as active joint book-running managers. The offering was supported by additional advisors including: RBC Capital Markets, LLC, TD Securities (USA) LLC, ATB Capital Markets Inc., CIBC World Markets Corp., Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Desjardins Securities Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC, MUFG Securities Americas, Inc., National Bank of Canada Financial Inc., SMBC Nikko Securities America, Inc. and Wells Fargo Securities, LLC.Forward-looking Information This news release contains certain forward-looking statements and forward-looking information (collectively referred to as “forward-looking information”) within the meaning of applicable securities legislation, including the United States Private Securities Litigation Reform Act of 1995, about our current expectations, estimates and projections about the future, based on certain assumptions made by us in light of our experience and perception of historical trends. Although Cenovus believes that the expectations represented by such forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking information as actual results may differ materially from those expressed or implied.Forward-looking information in this document is identified by the word “will” and includes suggestions of future outcomes, including about the anticipated use of proceeds of the Offering.Developing forward-looking information involves reliance on a number of assumptions and consideration of certain risks and uncertainties, some of which are specific to Cenovus and others that apply to the industry generally. The assumptions on which our forward-looking information is based include other risks and uncertainties described from time to time in the filings Cenovus makes with securities regulatory authorities.The risks and uncertainties that could cause our actual results to differ materially, include, but are not limited to: the risk that, notwithstanding our current intentions regarding the use of the net proceeds of the Offering, there may be circumstances where a reallocation of the net proceeds may be necessary, depending on future operations, unforeseen events or whether future growth opportunities arise; and risks relating to the current and potential adverse impacts of the novel coronavirus pandemic and continued depressed prices for crude oil and other petroleum products.Additional information about risks, assumptions, uncertainties and other factors that could influence Cenovus’s actual results is provided in Cenovus’s Management’s Discussion and Analysis (MD&A) for the year ended December 31, 2019 and its MD&A for the period ended June 30, 2020 as well as the company's Annual Information Form and Form 40-F for the year ended December 31, 2019 (all available on SEDAR at sedar.com, EDGAR at sec.gov and Cenovus's website at cenovus.com).Cenovus Energy Inc. Cenovus Energy Inc. is a Canadian integrated oil and natural gas company. It is committed to maximizing value by sustainably developing its assets in a safe, innovative and cost-efficient manner, integrating environmental, social and governance considerations into its business plans. Operations include oil sands projects in northern Alberta, which use specialized methods to drill and pump the oil to the surface, and established natural gas and oil production in Alberta and British Columbia. The company also has 50% ownership in two U.S. refineries. Cenovus shares trade under the symbol CVE, and are listed on the Toronto and New York stock exchanges. For more information, visit cenovus.com.Find Cenovus on Facebook, Twitter, LinkedIn, YouTube and Instagram.CENOVUS CONTACTS: Investor Relations Investor Relations general line 403-766-7711 Media Relations Media Relations general line 403-766-7751
- 07/30/2020
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Trading The Carbon Spread: Long Equinor, Short Imperial Oil And Cenovus Energy
- Blackrock views climate risk as investment risk. Norges Bank excluded oil sands producers Imperial Oil and Cenovus Energy from its portfolio due to unacceptable greenhouse emissions.
- 07/30/2020
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This Just In: Analysts Are Boosting Their Cenovus Energy Inc. (TSE:CVE) Outlook for This Year
- Cenovus Energy Inc. (TSE:CVE) shareholders will have a reason to smile today, with the analysts making substantial...
- 07/30/2020
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Is Cenovus Energy (CVE) a Great Value Stock Right Now?
- Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
- 07/29/2020
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Cenovus Energy Inc. -- Moody's rates Cenovus' notes offering Ba2
- Moody's Investors Service (Moody's) rated Cenovus Energy Inc.'s (Cenovus) senior unsecured notes offering Ba2. The proceeds of the US$750 million unsecured notes offering will be used to repay short-term debt.
- 07/28/2020
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Cenovus (CVE) Q2 Earnings Beat on Higher Oil Production
- Cenovus Energy's (CVE) second-quarter operating loss from the Conventional unit narrows year over year due to lower operating costs.
- 07/28/2020
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Cenovus Energy: You Shouldn't Expect A Dividend Anytime Soon
- Cenovus Energy posted disastrous second-quarter results because of depressed oil prices. Net debt increased by C$1.7 billion in just six months.
- 07/27/2020
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Cenovus Takes Advantage of Cheap Credits to Boost Oil Output
- (Bloomberg) -- Cenovus Energy Inc. is taking advantage of a plunge in the price for credits that allow the oil-sands company to produce more than output limits imposed by Alberta.For August, those credits are trading at about $1.25 a barrel, compared with $7 or more before the global pandemic, according to people familiar with the market who asked not to be named because the prices aren’t public.With those cheap credits, the Calgary-based company has pushed output to more than 405,000 barrels a day, up from less than 344,000 in April. Output at the company’s Christiana Lake reached a record.“I cannot overemphasize the value of our ability to take advantage of rapidly changing market conditions,” Chief Executive Officer Alex Pourbaix said in an earnings call Thursday. He said the company has been buying “low-cost production credits from peers” to produce above the mandated limit, but didn’t disclose the price it’s paying.An estimated half a million barrels a day of Western Canadian oil went offline after an unprecedented price crash pushed many producers to the brink.Now that benchmark U.S. prices have rebounded to about $40 a barrel, from as low as minus $40 in April, the biggest players are in a position to pick up the slack from smaller ones that are struggling to stay afloat. Heavy Canadian crude is trading at its smallest seasonal discount to New York futures in more than a decade.The resumption of output in Canada has been gradual as some producers conduct maintenance on equipment and wait to see if the rise in oil prices continues.The market for production credits formed at the start of last year, when Alberta ordered its largest oil producers to curtail production to alleviate a glut caused by too much oil flowing into too few pipelines.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 07/25/2020
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Cenovus Energy's (CVE) CEO Alex Pourbaix on Q2 2020 Results - Earnings Call Transcript
- Cenovus Energy Inc. (NYSE:CVE) Q2 2020 Earnings Conference Call July 23, 2020 11:00 AM ET Company Participants Sherry Wendt – Director-Investor Relations Alex Pourbaix – President and Chief Executive Officer Jon McKenzie – Executive Vice President and Chief Financial Officer Keith Chiasson – Executive Vice President-Downstream Norrie Ramsay – Executive Vice President-Upstream Conference Call Participants Greg Pardy – RBC Capital Emily Chieng – Goldman Sachs Phil Gresh – JPMorgan Manav Gupta – Credit Suisse Benny Wong – Morgan Stanley Asit Sen – Bank of America Joe Gemino – Morningstar Presentation Operator Good day, ladies and gentlemen, and thank you for standing by.
- 07/23/2020
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Cenovus Energy (CVE) Reports Q2 Loss, Lags Revenue Estimates
- Cenovus (CVE) delivered earnings and revenue surprises of 43.18% and -20.26%, respectively, for the quarter ended June 2020. Do the numbers hold clues to what lies ahead for the stock?
- 07/23/2020
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CANADA STOCKS-TSX futures rise on higher gold prices
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Cenovus Energy: Q2 Earnings Insights
- Shares of Cenovus Energy (NYSE:CVE) were unchanged after the company reported Q2 results.Quarterly Results Earnings per share were down 247.06% over the past year to ($0.25), which missed the estimate of ($0.02).Revenue of $1,568,000,000 declined by 63.18% year over year, which missed the estimate of $3,570,000,000.Guidance Earnings guidance hasn't been issued by the company for now.Cenovus Energy hasn't issued any revenue guidance for the time being.Conference Call Details Date: Jul 23, 2020View more earnings on CVETime: 11:00 AMET Webcast URL: https://produceredition.webcasts.com/starthere.jsp?ei=1332505&tp_key=c7b7514b25Price Action 52-week high: $10.8252-week low: $1.41Price action over last quarter: Up 36.54%Company Description Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 452 thousand barrels of oil equivalent per day in 2019, and the company estimates that it holds 6.9 billion boe of proven and probable reserves.See more from Benzinga * Earnings Scheduled For July 23, 2020(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- 07/23/2020
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Canada's Cenovus Energy posts quarterly loss on oil price plunge
- Crude prices collapsed earlier this year to historic lows as coronavirus lockdowns drained demand and a battle for market share among the world's top producers flooded the market with oil. Cenovus said earlier in July it had reinstated about 60,000 bpd of idled production. "We view the second quarter as a period of transition, with April as the low point of the downturn and the first signs of recovery taking hold in May and June," said Alex Pourbaix, president and chief executive officer of Cenovus.
- 07/23/2020
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Cenovus reports second-quarter 2020 results
- Company captures value by leveraging flexibility of its operations Cenovus SAGD project View of a Cenovus steam-assisted gravity drainage oil sands project in northern Alberta. Wolf Lake natural gas plant Cenovus’s Wolf Lake Natural Gas Plant in the Deep Basin in west central Alberta. Cenovus's Foster Creek project in northern Alberta Steam generators at Cenovus’s Foster Creek project in northern Alberta.CALGARY, Alberta, July 23, 2020 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) remained focused on financial resilience in the second quarter of 2020 and used the flexibility of its assets and marketing strategy to adapt quickly to the changing external environment. This positioned the company to weather the sharp decline in benchmark crude oil prices in April by reducing volumes at its oil sands operations and storing the mobilized oil in its reservoirs for production in an improved price environment. While Cenovus’s financial results were impacted by the weak prices early in the quarter, the company captured value by quickly ramping up production when Western Canadian Select (WCS) prices increased almost tenfold from April to an average of C$46.03 per barrel (bbl) in June. As a result of this decision, Cenovus reached record volumes at its Christina Lake oil sands project in June and achieved free funds flow for the month of more than $290 million. “We view the second quarter as a period of transition, with April as the low point of the downturn and the first signs of recovery taking hold in May and June,” said Alex Pourbaix, Cenovus President & Chief Executive Officer. “That said, we expect the commodity price environment to remain volatile for some time. We believe the flexibility of our assets and our low cost structure position us to withstand a continued period of low prices if necessary. And we’re ready to play a significant role in helping to lead Canada’s economic recovery.”Financial & production summary (for the period ended June 30)2020 Q22019 Q2 Financial ($ millions, except per share amounts) Cash from (used in) operating activities-8341,275 Adjusted funds flow1, 2-4621,082 Per share diluted-0.380.88 Free funds flow1, 2-609834 Operating earnings (loss)1 -414267 Per share diluted-0.340.22 Net earnings (loss)-2351,784 Per share diluted-0.191.45 Capital investment147248 % change Production3 (before royalties) Oil sands (bbls/d)373,189344,9738 Conventional liquids3,4 (bbls/d)26,86126,4172 Total liquids3,4 (bbls/d)400,050 371,3908 Total natural gas (MMcf/d)392432-9 Total production4 (BOE/d)465,415443,3185 1 Adjusted funds flow, free funds flow and operating earnings/loss are non-GAAP measures. See Advisory. 2 The prior period has been reclassified to conform with the current period treatment of non-cash inventory write-downs. 3 Includes oil and natural gas liquids (NGLs). 4 Cenovus’s Deep Basin segment has been renamed the Conventional segment and now includes the company’s Marten Hills asset. For a description of Cenovus’s operations, refer to the Reportable Segments section of Management's Discussion and Analysis. Response to COVID-19 In the first quarter of 2020, Cenovus responded quickly to the COVID-19 pandemic to protect the health and safety of its workforce and ensure the continuity of its business. In mid-March, the company moved to essential staffing levels at its field operations and directed the vast majority of its office staff to work from home. Cenovus continues to implement special measures and protocols to protect its workers. Some additional staff have recently started returning to field locations to address work that needs to be performed over the summer and fall while the return to offices is happening at a slower rate. Cenovus is monitoring the COVID-19 situation closely and will not compromise on the health and safety of its workers.Business flexibility and balance sheet strength In the second quarter of 2020, Cenovus remained focused on disciplined spending, maintaining its low cost structure and protecting its balance sheet. Capital investment in its oil sands and conventional segments decreased on a quarterly and year-over-year basis as a result of the decisive steps the company took in the first quarter of 2020 and in early April to respond to declining commodity prices and the rapid weakening of the business environment. During the second quarter, the company completed the previously announced temporary ramp-down of its crude-by-rail program.In response to a 45% drop in the average price of West Texas Intermediate (WTI), to US$16.70/bbl, and a more than 70% decline in the average price of WCS, to C$4.92/bbl in April compared with March of 2020, Cenovus took additional steps to preserve value and protect its balance sheet by proactively managing its oil sands volumes. In April, the company voluntarily reduced oil sands production to just under 344,000 barrels per day (bbls/d), down 11% or approximately 44,000 bbls/d compared with March volumes. When WCS prices rebounded to C$46.03/bbl in June, Cenovus used the flexibility of its oil sands assets to quickly ramp up production and leveraged its range of transportation and marketing options, including storage and pipeline capabilities, to capture value from the higher prices. The company achieved average oil sands production of 405,658 bbls/d in June, which included a production record at Christina Lake.“We made the strategic decision to use the flexibility of our business and relied on the collaboration of our upstream and marketing teams to manage the timing, storage and sales approach for our oil production,” said Pourbaix. “We are maximizing value for our shareholders even in this challenging economic environment.” Second-quarter financial results Cenovus’s second-quarter adjusted funds flow shortfall of $462 million and free funds flow shortfall of $609 million were significantly impacted by losses of $529 million related to product sold in the quarter that was written down at the end of March. During the second quarter, essentially all the inventory that Cenovus wrote down in March was sold, and the company realized the inventory write-downs. The recovery in benchmark commodity prices and the ramp-up of production during the second quarter resulted in Cenovus achieving free funds flow of more than $290 million for the month of June.The company recorded cash used in operating activities of $834 million in the second quarter compared with nearly $1.3 billion in cash from operating activities in the same quarter of 2019. Cenovus had a second-quarter operating loss of $414 million and net loss of $235 million compared with operating earnings of $267 million and net earnings of almost $1.8 billion in the same period in 2019. The net loss was due to the lower operating earnings and unrealized risk management losses of $120 million, partially offset by non-operating unrealized foreign exchange gains of $273 million and a deferred income tax recovery of $131 million.At the end of the second quarter, Cenovus had net debt of approximately $8.2 billion compared with net debt of about $7.4 billion at the end of the first quarter of 2020. The company continues to aim for a net debt level in the range of $5 billion or lower over the longer term.Cenovus has $5.6 billion in committed credit facilities, a further $1.6 billion of uncommitted demand facilities and no bond maturities until late 2022. As of June 30, 2020, the company had drawn almost $1.5 billion against the committed credit facilities, $299 million against the uncommitted demand facilities, and there were outstanding letters of credit totaling $434 million. As at June 30, 2020 no amounts were drawn against the uncommitted demand facilities available to Cenovus’s refining partnership co-owned with Phillips 66.Operating highlights Cenovus’s upstream and refining assets continued to deliver safe and reliable operational performance during the second quarter.Health and safety Cenovus remains focused on delivering industry-leading safety performance through its focus on risk management and asset integrity. The company continued its excellent safety performance in the first half of 2020 with zero significant incidents and strong results in the prevention of recordable injuries and process safety events. This included a significant milestone by the Deep Basin conventional team, which achieved one year with zero recordable injuries.Oil sands For the second quarter, Christina Lake had average production of 207,157 bbls/d, while Foster Creek had average production of 166,032 bbls/d. The company achieved combined oil sands production of 373,189 bbls/d in the second quarter, compared with 344,973 bbls/d in the same period a year earlier. In May and June, Cenovus was able to produce above the government of Alberta’s mandatory production curtailment limit for industry due to the purchase of low-cost production credits from other companies. As a result, Christina Lake volumes increased from an average of 175,957 bbls/d for the month of April to an average of 242,964 bbls/d for the month of June, a record, underscoring Cenovus’s flexibility in managing through the volatile price environment.Second-quarter oil sands operating costs were $7.36/bbl, down 15% from the same period a year earlier and 5% below the first quarter of 2020. The year-over-year decrease in oil sands operating costs was primarily due to higher sales volumes and the deferral of activity to manage costs in the low-price environment and limit field personnel due to COVID-19. The decrease in second-quarter operating costs from a year earlier was partially offset by higher fuel costs related to an increase in natural gas prices.
- 07/23/2020
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Cenovus Energy (CVE) to Report Q2 Earnings: What's in Store?
- Lower hydrocarbon production and commodity prices are likely to have affected Cenovus Energy's (CVE) profit levels in the second quarter.
- 07/20/2020
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Did Hedge Funds Make The Right Call On Cenovus Energy Inc (CVE)?
- At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (see why hell is coming). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each stock might be going. […]
- 07/17/2020
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Cenovus to hold conference call and webcast on second-quarter results
- CALGARY, Alberta, July 16, 2020 -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) will release its second-quarter results on Thursday, July 23, 2020. The news release will provide.
- 07/16/2020
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Cenovus Energy (CVE) Expected to Beat Earnings Estimates: What to Know Ahead of Q2 Release
- Cenovus (CVE) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
- 07/16/2020
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Energy Stocks Breakout Following Healthy Consolidation Just As Global Oil Inventories Start To Draw
- Energy stocks are breaking out today after a month-long consolidation. Unlike the rally we saw in early June where bankrupt stocks were leading the charge, investors are finally differentiating between the losers and winners in the space.
- 07/14/2020
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Cenovus releases 2019 environmental, social & governance report
- Report highlights work done to establish bold ESG targetsCALGARY, Alberta, July 14, 2020 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has published its 2019 environmental, social & governance (ESG) report. In 2019, the company conducted a formal materiality assessment to identify the four ESG focus areas that are most impactful to its business. The company then engaged in a rigorous process that involved work with external ESG consultants and included robust scenario analysis to establish ambitious targets for greenhouse gas (GHG) emissions. Cenovus also set bold targets in its three other key ESG focus areas: Indigenous engagement, land & wildlife and water stewardship. The ESG targets were announced January 9, 2020 and Cenovus continues to work on the plan for pursuing these targets over the next decade. “This past year was an important one for Cenovus as we continue to integrate sustainability into our strategy and business decisions,” said Alan Reid, Cenovus Executive Vice-President, Stakeholder Engagement, Safety, Legal & General Counsel. “Building on our long track record for sustainable development, we laid the foundations to establish meaningful targets in the four ESG areas that are most impactful to our business and stakeholders and are aligned with the priorities of our five-year business plan. We also did the hard work required to ensure we’ve adopted the most widely recognized reporting standards for our industry in our 2019 ESG report.”In this report, Cenovus has transitioned its approach to further align with the recommendations of the Task Force on Climate-related Financial Disclosure (TCFD) and, new this year, to follow the standards established by the Sustainability Accounting Standards Board (SASB). The report also incorporates references to the United Nations Sustainable Development Goals (SDGs).Other 2019 ESG highlights: * Incorporated Cenovus’s four ESG focus areas into the company’s capital allocation framework * Continued to advance safety culture at Cenovus, achieving the second lowest total recordable injury frequency in company history * Established a Sustainability Advisory Council of senior Cenovus leaders from key areas of the company’s business to advise on sustainability initiatives * Laid the groundwork for Cenovus’s unprecedented $50 million Indigenous Housing program, announced on January 30, 2020 * Advanced the work of the company’s Indigenous Inclusion Advisory Committee * Launched a new diversity and inclusion training program and extended mental health benefits which are the best-in-class for corporations in CanadaAdvisory Forward-looking Information This document contains certain forward-looking statements and forward-looking information (collectively referred to as “forward-looking information”) within the meaning of applicable securities legislation, including the United States Private Securities Litigation Reform Act of 1995, about our current expectations, estimates and projections about the future, based on certain assumptions made by us in light of our experience and perception of historical trends. Although Cenovus believes that the expectations represented by such forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking information as actual results may differ materially from those expressed or implied.Forward-looking information in this document includes statements about pursuing and achieving targets, commitments and ambitions for our ESG focus areas. Please refer to the advisory contained in our January 9, 2020 news release announcing our ESG targets and ambitions for a description of the assumptions made in respect of our ESG targets and ambitions, as well as a description of certain risks and uncertainties that could impact these targets and ambitions.Additional information about risks, assumptions, uncertainties and other factors that could influence Cenovus’s actual results is provided in Cenovus’s Management’s Discussion and Analysis (MD&A;) for the year ended December 31, 2019 and its MD&A; for the period ended March 31, 2020 as well as its Annual Information Form and Form 40-F for the year ended December 31, 2019 (all available on SEDAR at sedar.com, on EDGAR at sec.gov and Cenovus's website at cenovus.com).Cenovus Energy Inc. Cenovus Energy Inc. is a Canadian integrated oil and natural gas company. We are committed to maximizing value by sustainably developing our assets in a safe, innovative and cost-efficient manner, integrating environmental, social and governance (ESG) considerations into our business plans.Our operations include oil sands projects in northern Alberta, which use specialized methods to drill and pump the oil to the surface using a technique called SAGD. We also have conventional crude oil, natural gas and natural gas liquids assets in Alberta and British Columbia as well as 50 percent interest in two U.S. refineries operated by Phillips 66. Cenovus shares trade under the symbol CVE and are listed on the Toronto and New York stock exchanges. For more information, visit cenovus.com.Find Cenovus on Facebook, Twitter, LinkedIn, YouTube and Instagram.CENOVUS CONTACTS: Investors Investor Relations general line 403-766-7711 Media Media Relations general line 403-766-7751
- 07/14/2020
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CANADA STOCKS-TSX rises as producer prices gain in June
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How Much Did Cenovus Energy's(TSE:CVE) Shareholders Earn From Share Price Movements Over The Last Five Years?
- Cenovus Energy Inc. (TSE:CVE) shareholders will doubtless be very grateful to see the share price up 56% in the last...
- 07/09/2020
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Oil-Sands Explorers Restore Some 20% of Shut-in Crude Production
- (Bloomberg) -- At least 20% of shut-in Canadian production is being restored, just months after the price crash forced producers in Alberta’s oil sands to slash up to 1 million barrels a day of output.Cenovus Energy Inc., Husky Energy Inc. and Baytex Energy Corp. are among companies that have resumed shut-in production as prices rise above $40 a barrel. Imperial Oil Ltd., operator of the Kearl oil sands mine and Cold Lake wells, also expects to return to full upstream production after most maintenance is wrapped up in the second quarter, Chief Executive Officer Brad Corson said. ARC Resources Ltd. on Tuesday said it had restored output.“We’re seeing a strong price signal to bring production back,” Cenovus CEO Alex Pourbaix said on a TD Securities conference webcast. “Nobody should be surprised to see our production moving back to full production capacity. We are significantly cash-flow positive at the levels we’re at now.”Long exposed to steep price discounts for crude that must travel thousands of miles amid limited pipeline access, oil-sands companies were quick to slash production when the pandemic obliterated energy demand. Alberta’s oil output fell by almost 25%, according to provincial estimates.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 07/07/2020
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PRESS DIGEST-Canada - July 3
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Energy Stocks Breakout After Month-Long Consolidation
- We re-bought BTE today for our portfolio and decided to add it to our oil trading portfolio as well for leverage to the upside. WTI needs to make a sustained mo
- 06/30/2020
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Is Cenovus Energy Inc (CVE) Going to Burn These Hedge Funds?
- In this article you are going to find out whether hedge funds think Cenovus Energy Inc (NYSE:CVE) is a good investment right now. We like to check what the smart money thinks first before doing extensive research on a given stock. Although there have been several high profile failed hedge fund picks, the consensus picks […]
- 06/15/2020
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CORRECTED-CANADA STOCKS-TSX futures rise after previous session crash
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Shares of several oil and gas companies are trading lower after API reported an 8.42 million barrel build in crude oil inventories.
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Shares of several energy companies are trading lower as equities sell off following the recent rally. Stocks have rallied over the past week amid optimism towards the US economy reopening and investors have potentially taken some profits following the run up.
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Shares of several energy companies are trading higher after OPEC+ agreed to extend production cuts into July.
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Shares of several energy companies are trading higher amid a gain in oil prices following positive US jobs data and as investors await the OPEC+ conference, hoping for output cuts.
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Cenovus (CVE) Up 20.1% Since Last Earnings Report: Can It Continue?
- Cenovus (CVE) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
- 05/29/2020
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Surging Crude Prices Send Oil Stocks Soaring Today
- Oil prices started this week with a bang. WTI, the primary U.S. oil price benchmark, had rallied more than 10% by 10:30 a.m. EDT on Monday, to around $32.50 a barrel, while Brent, the global oil price benchmark, jumped more than 7% to nearly $35 a barrel. The surge in crude prices buoyed most oil stocks.
- 05/18/2020
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Shares of several oil stocks are trading higher amid an increase in the price of oil driven by greater-than-expected production cuts.
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Billionaire George Soros Bets on These 3 High-Yield Dividend Stocks
- Keeping up the returns would be a neat trick in today’s market, as the COVID-19 pandemic has forced us into prolonged economic shutdowns and social lockdowns, while promoting volatility in both markets and politics. For investors, then, the best strategy may just be to follow a winner.Billionaire investing legend George Soros is most definitely a winner. He’s built a portfolio worth billions, and had possibly the greatest bull run in hedge fund history, averaging 30% annualized returns for 30 years. Starting in 1992, when he shorted the Pound Sterling and made $1 billion in 24 hours, to his most recent 13F filings, Soros has a record of success that few investors can match.Soros built his career and his fortune avoiding controversial stocks, and always keeping high returns in mind. Soros has always like dividend stocks; they offer a steady return, and for Soros, reliable returns have always been the key point.We this in mind, we’ve taken three of Soros’ recent holding additions and looked them up in the TipRanks database. We discovered that all three are Buy-rated and, more importantly, offer robust dividend yields.AGNC Investment (AGNC)First up is a real estate investment trust (REIT), based in Washington DC’s Maryland suburbs. AGNC holds a portfolio of mortgage-backed securities, guaranteed by the US government. Of the company’s total portfolio, 76%, or $70.7 billion worth, is made up of Federally backed securities, giving AGNC’s assets a rock-solid foundation.Soros already had a position in AGNC, of more than 1,388,000 shares, and in the first quarter he added an additional 312,000 shares. It was a 22% boost in the quantity of his AGNC holding, only one year after first buying into the stock. Soros’ holding in AGNC is currently worth over $21 million.It’s clearly a solid investment. AGNC beat the EPS forecast in fiscal Q1, reporting 57 cents per share despite a sequential decline in quarterly income from interest. The company’s $1.29 billion in cash holdings allow it to support a generous dividend payment. More important, management was wise enough to adjust the most recent dividend to keep it aligned with earnings. Even reduced, the 12-cent monthly payment annualizes to $1.44 and gives a yield of 11.5%. That’s a high yield by any standard, but compared to peer stocks (which average 2.2%) or the S&P; 500 generally (where dividends average 2.0%), it looks even better.Covering this stock for JPMorgan, 5-star analyst Richard Shane sees Federal backing as the underlying strength. He writes, “We believe AGNC remains a compelling investment given continued Fed support of agency and short-term repo markets, and believe the portfolio can continue to perform as the economic situation normalizes with specified collateral mitigating prepayment concerns.”Shane’s $16.50 price target on AGNC suggests an upside of 32%, fully supporting his Buy rating. (To watch Shane’s track record, click here)All in all, Wall Street is mostly in agreement with Soros and Shane when it comes to buying AGNC. The stock has 11 recent reviews, of which 8 are Buy and 3 are Hold. The stock’s analyst consensus view is a Moderate Buy. Selling for just $12.44, AGNC is affordable, especially given its high dividend yield. At $14.53, the average price target implies room for a 17% upside potential. (See AGNC stock analysis on TipRanks)Cenovus Energy (CVE)Alberta, Canada has, for well over a decade, been at the center of that country’s energy boom. The province’s tar sands have proven to be an incredibly rich source of hydrocarbon energy, and made Canada a world player in the oil markets. Cenovus owns extensive oil and natural gas operations across Alberta and British Columbia, along with refineries in Illinois and Texas. Importantly, Cenovus managed to reduce its long-term debt by 21% in recent months, despite seeing a sharp drop in earnings in Q1.Soros first bought into CVE in Q4 2019, buying 300,000 shares. In this most recent quarter, record show that he added another 1.7 million shares – making his total holding 2 million shares, worth over $7 million.CVE pays out a reliable dividend, and even though earnings turned negative in Q1, the company held firm to the payment. At just 4.5 cents per share quarterly, annualizing to 18 cents, it may not sound like much, but it still yields a strong 5.09%. Cenovus has a five-year history or reliable dividend payments, another positive sign for return-minded investors.Randy Ollenberger, from BMO Capital, believes Cenovus occupies a firm position in the industry. Ollenberger writes of the company’s mid-term prospects: “Although we believe 2020 to be a tough year for Cenovus and its peer group, we see its ample liquidity position as being crucial in navigating this current downturn. As of Q1, the company is sitting with ~$4.8 billion of liquidity… Cenovus’ minimal sustaining capex requirements and low operating costs make it well positioned for a commodity price recovery. As a result, we believe that Cenovus will have industry leading free cash flow yields moving into 2021…”In line with this bullish outlook, Ollenberger sets a price target of $6.50 Canadian, or $4.61 in US dollars. This implies an upside to the stock of 24%, a nice complement to the dividend yield, and supportive of his Buy rating. (To watch Ollenberger’s track record, click here)The analyst corps is somewhat divided on this stock; out of 12 recent reviews, 6 are Buys, 5 are Holds, and 1 is a Sell. The consensus rating is a Moderate Buy. The average price target, at $4.57, is in line with Ollenberger’s, and suggests that CVE has room for 23% upside growth in the coming year. (See Cenovus stock analysis on TipRanks)NiSource, Inc. (NI)Last on our list is a new position for Soros. NiSource is a holding company; its subsidiaries provide natural gas and electricity to 4 million customers across seven states: Indiana, Kentucky, Ohio, Pennsylvania, Maryland, Massachusetts, and Virginia. NI reported declines on both the top and bottom lines in Q1.Despite the earnings declines, NI has kept up its dividend payment. The payment was raised in Q4 last year to 21 cents, and remains at that level. The payout ratio of 63%, while slightly high, indicates that the dividend is safe at current levels – and the 3.6% yield is a strong return, higher than the utility sector average of 3.04%.High returns are always an attraction for Soros, and he initiated his position in NI with 300,000 shares. At current share prices, these shares are worth more than $6.7 million. It’s a solid base for future gains, in an industry that benefits from a guaranteed customer base; power utilities are another essential niche in the modern economy.Covering NI stock for Wolfe Research, Steve Fleishman writes, “We see above-average rate base and earnings growth potential for NiSource relative to other electric and natural gas distribution utilities… We see NI as a de-risking story in 2020 with an upward bias on rate base / EPS growth due to renewable investment opportunities…”Fleishman reiterates his Buy rating on NI shares. He backs it with a $26 price target that implies an upside potential of 16%. (To watch Fleishman’s track record, click here)The analyst consensus rating on NI is an evenly split Moderate Buy, with 5 reviewers giving it a Buy and 5 giving it a Hold. Shares hold an average price target of $28.22, which indicates a 26% premium from the current share price of $22.37. (See NiSource stock analysis on TipRanks)To find good ideas for dividend stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
- 05/17/2020
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World's biggest wealth fund blacklists 4 Canadian firms for greenhouse emissions
- The Norwegian central bank on Wednesday excluded four Canadian oil and gas companies from its $1-trillion wealth fund, the world's largest, for producing too much greenhouse gas emissions, its first use of carbon emissions as a criterion to blacklist firms. Canadian Natural Resources Ltd, Cenovus Energy Inc , Suncor Energy Inc, and Imperial Oil Ltd were excluded from the fund due to "unacceptable greenhouse gas emissions", Norges Bank said in a statement https://www.norges-bank.no/en/news-events/news-publications/News-items/2020/2020-05-13-spu. The decision was based on recommendations from the Council on Ethics, the fund's ethics watchdog, because of the companies' carbon emissions from production of oil to oil sands, the central bank said.
- 05/13/2020
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Why Has Cenovus Energy (CVE) Rallied 18.8% Since Q1 Earnings?
- The coronavirus pandemic made quite a brutal impact on Cenovus Energy's (CVE) Q1 earnings.
- 05/11/2020
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12 Energy Stocks Moving In Monday's Pre-Market Session
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Shares of several oil companies are trading higher as oil prices gain. Strength in oil prices is being driven by production cuts, price raises from Saudi Arabia and a rebound in gasoline demand as some states and countries reopen economies.
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Caymus Capital Partners, L.P. Buys Magnolia Oil & Gas Corp, Noble Energy Inc, EQT Corp, ...
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Shares of several oil and gas companies are trading lower amid concerns of the economy reopening along with the tensions between China and the US. UPDATE: Several names in the space have since reversed, sector now mixed.
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10 Energy Company Bonds That Could Reward Investors
- The debt of energy companies such as Occidental Petroleum, Marathon Oil, Parsley Energy, and Continental Resources yields more than 8% and offers an attractive alternative to beaten-up oil and gas shares. Gaining an edge over Warren Buffett
- 05/01/2020
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Cenovus Energy (CVE) Q1 2020 Earnings Call Transcript
- To keep it simple and limit background noise, we have our president and chief executive officer, Alex Pourbaix; our chief financial officer, Jon McKenzie; our executive vice president, upstream, Norrie Ramsay; and our executive vice president, downstream, Keith Chiasson, on the call to answer your questions. Now, before I get to our quarterly results, I wanted to touch briefly for a second.
- 05/01/2020
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Shares of several oil and gas companies are trading lower on market weakness as investor uncertainty grows following quarterly earnings results from multiple companies.
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Shale producer Concho takes $12.6 bln charge, cuts 2020 spending again
- Concho Resources Inc reported a bigger first-quarter loss on Thursday, hurt by a $12.6 billion impairment charge and the oil producer said it would further cut its annual spending following the rout in oil prices. Concho said its average realized oil prices per barrel, excluding derivatives, fell 7.2%
- 04/30/2020
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ConocoPhillips to sharply cut oil production as low prices hit earnings
- The world's largest independent oil and gas producer plans to curtail output by a further 40,000 barrels per day in May and bring its total cuts to 460,000 barrels per day by June.
- 04/30/2020
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Analysts' Top Utilities Picks: Diamondback (FANG), WPX Energy (WPX)
- There's a lot to be optimistic about in the Utilities sector as 3 analysts just weighed in on Diamondback (FANG), WPX Energy (WPX) and Cenovus Energy
- 04/30/2020
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ConocoPhillips reports $1.7B net loss, updates production cuts
- Ryan Lance, CEO of ConocoPhillips
- 04/30/2020
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ConocoPhillips reports 58% fall in quarterly profit
- Crude prices have collapsed in the past six weeks as the coronavirus outbreak hit demand and a price war broke out between Russia and Saudi Arabia, prompting companies to slash spending and curb output. Production excluding Libya for the first quarter was 1.28 million barrels of oil equivalent (BOE)
- 04/30/2020
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U.S. Midwest Refinery Surge Extends Lifeline to Canadian Crude
- (Bloomberg) — Refiners in the America’s heartland are starting to ramp up, which will be welcome news to struggling Canadian oil producers.Heavy Western Canadian Select crude’s di…
- 04/30/2020
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ConocoPhillips Reports First-Quarter 2020 Results; Announces Quarterly Dividend and Additional Curtailments
- ConocoPhillips reported a Q1 2020 loss of $1.7 billion, or ($1.60) per share, compared with Q1 2019 earnings of $1.8 billion, or $1.60 per share.
- 04/30/2020
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Edited Transcript of CVE.TO earnings conference call or presentation 29-Apr-20 3:00pm GMT
- Q1 2020 Cenovus Energy Inc Earnings Call
- 04/30/2020
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Cenovus reports voting results of election of Directors
- CALGARY, Alberta, April 29, 2020 -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced that at its annual meeting of shareholders held on April 29, 2020, each of the 11.
- 04/30/2020
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Cenovus reports voting results of election of Directors
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Cash crunch could leave Corporate Canada tapping the debt markets
- ‘We’re going to see a lot of companies file for bankruptcy,’ once government money runs out, one adviser says
- 04/29/2020
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Oil cuts keeping Canada storage levels in check, producers say
- A crash in crude prices due to global economic restrictions has forced oil companies to cut costs and production. Analysts warn that global storage levels are fast approaching capacity. Levels could still spike to tank-top levels of 43 million barrels, Chief Executive Alex Pourbaix warned.
- 04/29/2020
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Canada's Cenovus Energy swings to quarterly loss
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Cenovus reports first-quarter 2020 results
- Cenovus Energy Inc. (CVE.TO) (CVE.TO) continued to deliver safe and reliable operations in the first quarter of 2020 while demonstrating its ability to take swift and decisive steps to enhance its financial resilience and protect its balance sheet in the face of the global macro-economic challenges caused by the COVID-19 pandemic. “The strength of our balance sheet, the quality of our long-life oil sands reserves and the flexibility of our business to respond quickly to the changing external environment have positioned us well to withstand an extended period of low oil prices,” said Alex Pourbaix, Cenovus President & Chief Executive Officer.
- 04/29/2020
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Earnings Scheduled For April 29, 2020
- Companies Reporting Before The Bell
Norfolk Southern Corporation (NYSE: NSC) is estimated to report quarterly earnings at $2.25 per share on revenue of $2.58 billion.
The Boeing...
- 04/29/2020
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Cenovus Energy Earlier Reported Q1 EPS $(0.720) Misses $(0.020) Estimate, Sales $2.960B Miss $3.570B Estimate
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Canada’s big oil producers will start reporting earnings tomorrow. Here’s what to expect
- Production curtailments are poised to be a key focus for investors
- 04/28/2020
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Ninepoint Partners LP Buys SPDR S&P 5……, Cenovus Energy Inc, Crescent Point Energy ...
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Cenovus Energy (CVE) to Report Q1 Earnings: What's in Store?
- Although weak crude prices are likely to have hurt Cenovus Energy's (CVE) Q1 earnings, higher production is expected to have lent support.
- 04/24/2020
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Cenovus Energy (CVE) to Report Q1 Earnings: What's in Store?
- Although weak crude prices are likely to have hurt Cenovus Energy's (CVE) Q1 earnings, higher production is expected to have lent support.
- 04/24/2020
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Cenovus Energy (CVE) to Report Q1 Earnings: What's in Store?
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‘Sacrosanct’ dividends on the chopping block as analysts look past oil companies’ Q1 earnings
- With expected output reductions of 10 per cent to 35 per cent in coming months, many companies will have to bolster cash holdings
- 04/23/2020
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FY2021 Earnings Forecast for iAnthus Capital Holdings Inc (CVE:IAN) Issued By Beacon Securities
- iAnthus Capital Holdings Inc (CVE:IAN) – Stock analysts at Beacon Securities reduced their FY2021 earnings per share (EPS) estimates for iAnthus Capital in a report issued on Monday, April 20th. Beacon Securities analyst R. Stanley now expects that the company will earn $0.24 per share for the year, down from their previous forecast of $0.26. […]
- 04/23/2020
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Shares of several energy companies are trading higher as oil prices rise amid hopes of output cuts by some producers as well as renewed US-Iran tensions in the gulf.
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Cenovus to hold conference call and webcast on first-quarter results
- Cenovus Energy Inc. (CVE.TO) (CVE.TO) will release its first-quarter results on Wednesday, April 29, 2020. Financial statements will be available on Cenovus’s website, cenovus.com. A conference call and webcast to discuss the results will be held for the investment community at 9 a.m. MT (11 a.m. ET).
- 04/22/2020
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Ovintiv (OVV) Gets a Hold Rating from RBC Capital
- RBC Capital analyst Gregory Pardy maintained a Hold rating on Ovintiv (OVV) yesterday and set a price target of $5.50. The company's shares closed last
- 04/22/2020
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Analysts Have Conflicting Sentiments on These Utilities Companies: Advantage Oil & Gas (OtherAAVVF), Canadian Natural (CNQ) and Conocophillips (COP)
- Companies in the Utilities sector have received a lot of coverage today as analysts weigh in on Advantage Oil & Gas (AAVVF), Canadian Natural (CNQ)
- 04/22/2020
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Cenovus to hold conference call and webcast on first-quarter results
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Mayhem - Is The Market Broken?
- After oil prices fell into negative territory for the first time in history, Trump called for an oil industry bailout, Putin prepared to cut production and bin Salman is storing oil at sea
- 04/21/2020
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30 Stocks Moving in Tuesday's Pre-Market Session
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With Oil Unprofitable, Canadian Producers Are Shutting Down the Pumps
- Regional oil prices have fallen so far that companies have no other choice.
- 04/20/2020
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Shares of several oil stocks are trading lower after the price of oil fell significantly as storage for the commodity runs out and global demand remains depressed. UPDATE: Shares of several names in the space have reversed, sector now mixed.
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Half of announced N. American oil cuts come from just three companies
- Numerous U.S. and Canadian oil companies have said they are reducing output in 2020, but a Reuters analysis of the announcements so far show that just three companies – Chevron Corp, ConocoPh…
- 04/17/2020
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Trudeau Offers Aid to Energy Workers While Skirting Full Bailout
- (Bloomberg) — Prime Minister Justin Trudeau announced C$2.45 billion ($1.75 billion) to help workers in Canada’s energy sector, a smaller aid package than had been sought by an industry…
- 04/17/2020
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Half of announced North American oil cuts come from just three companies
- Oil and gas producers are deep into crisis mode as a result of the worldwide slump in demand caused by coronavirus lockdowns. More companies are expected to detail production cuts alongside quarterly results in the coming weeks.
- 04/17/2020
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Ovintiv (OVV) Gets a Hold Rating from RBC Capital
- In a report released yesterday, Gregory Pardy from RBC Capital maintained a Hold rating on Ovintiv (OVV), with a price target of $5.50. The company's
- 04/16/2020
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ConocoPhillips to Voluntarily Curtail 225,000 Gross Barrels of Oil Per Day; Reduces 2020 Cash Uses by Additional $3 Billion for Total Reduction of Over $5 Billion
- ConocoPhillips (NYSE: COP) announced today that it is taking further actions to respond to the oil market downturn. These follow initial actions announced on March 18.
- 04/16/2020
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Shares of several oil stocks are trading lower amid a decline in the price of oil after the International Energy Agency said demand for the commodity is expected to reach a 25-year low.
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Largest borrow rate increases among liquid names SKT;AMC;GOGO;SPCE;CVE;APT;MJ;X;UNM
- Largest borrow rate increases among liquid names SKT AMC GOGO SPCE CVE APT MJ X UNM
- 04/14/2020
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Shale Oil Producer Files for Bankruptcy, First U.S. Casualty of the Saudi-Russian Price War
- Whiting Petroleum Corp., once the largest oil and gas producer in North Dakota's Bakken Shale, has filed for Chapter 11 bankruptcy.
- 04/13/2020
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TSX falls as coronavirus worries persist; oil stocks rise
- Canada’s main stock index reversed early gains to trade lower on Monday on persisting worries over the economic damage from coronavirus pandemic, although gains in energy stocks after major o…
- 04/13/2020
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North America’s Oil Industry Is Shutting Off the Spigot
- A sharp drop in fuel consumption caused by the coronavirus pandemic and exacerbated by a feud between the world’s largest producers has limited options for North American oil companies.
- 04/13/2020
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War Claims Another Victim
- As many of the world’s top oil companies scramble to deal with the oil price crash, the event is also threatening the natural gas market
- 04/12/2020
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In a Profit Black Hole, Canada Dividends Head for Chopping Block
- By Divya Balji(Bloomberg) —The stock market is heading into an unprecedented earnings season. With little clue as to how and when the global economy will sputter back to life after its histor…
- 04/10/2020
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In a Profit Black Hole, Canada Dividends Head for Chopping Block
- (Bloomberg) -- The stock market is heading into an unprecedented earnings season. With little clue as to how and when the global economy will sputter back to life after its historic thrashing from the coronavirus, companies have pulled profit forecasts and investors are flying blind.Even rare companies
- 04/10/2020
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iAnthus Capital Holdings Inc (CVE:IAN) Forecasted to Earn FY2020 Earnings of ($0.02) Per Share
- iAnthus Capital Holdings Inc (CVE:IAN) – Beacon Securities upped their FY2020 EPS estimates for iAnthus Capital in a research note issued on Monday, April 6th. Beacon Securities analyst R. Stanley now forecasts that the company will post earnings per share of ($0.02) for the year, up from their previous estimate of ($0.03). Other analysts have […]
- 04/10/2020
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Report: OPEC Reaches an Agreement to Reduce its Output
- Saudi Arabia and Russia have ended their price war by pledging deep cuts to their production.
- 04/09/2020
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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.
- 04/09/2020
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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.
- 04/09/2020
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Beacon Securities Weighs in on iAnthus Capital Holdings Inc's FY2021 Earnings (CVE:IAN)
- iAnthus Capital Holdings Inc (CVE:IAN) – Analysts at Beacon Securities cut their FY2021 earnings estimates for iAnthus Capital in a note issued to investors on Monday, April 6th. Beacon Securities analyst R. Stanley now expects that the company will post earnings of $0.26 per share for the year, down from their previous forecast of $0.29. […]
- 04/09/2020
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Wall Street Analysts Are Bullish on Top Materials Picks
- There's a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Canadian Natural (CNQ) and TC Energy (TRP) with bullish
- 04/08/2020
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Wall Street Analysts Are Bullish on Top Materials Picks
- There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Canadian Natural
- 04/08/2020
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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.
- 04/08/2020
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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.
- 04/08/2020
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Shares of several energy companies are trading higher amid hopes of output cuts by major oil producers Russia and Saudi Arabia to support prices.
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Analysts Offer Insights on Utilities Companies: Brookfield Renewable Partners (BEP), MEG Energy (OtherMEGEF) and Unitil (UTL)
- Analysts fell to the sidelines weighing in on Brookfield Renewable Partners (BEP), MEG Energy (MEGEF) and Unitil (UTL) with neutral ratings, indicating
- 04/08/2020
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Ovintiv Slashes Capex Twice in a Month, Betters Oil Hedges
- Ovintiv (OVV) ensures strong cash-flow generation by streamlining oil hedges.
- 04/08/2020
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Ovintiv Slashes Capex Twice in a Month, Betters Oil Hedges
- Ovintiv (OVV) ensures strong cash-flow generation by streamlining oil hedges.
- 04/08/2020
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Ovintiv Slashes Capex Twice in a Month, Betters Oil Hedges
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Analysts Are Bullish on Top Materials Stocks: Pioneer Natural (PXD), Cenovus Energy (CVE)
- There's a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Pioneer Natural (PXD) and Cenovus Energy (CVE) with bullish
- 04/07/2020
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Analysts Are Bullish on Top Materials Stocks: Pioneer Natural (PXD), Cenovus Energy (CVE)
- There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Pioneer Natural
- 04/07/2020
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Shares of several energy companies are trading higher amid hopes of production cuts by key producers to sustain prices, as well as positive economic sentiment on a potential leveling off of coronavirus cases in some regions.
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TSX climbs on hopes of slowing virus spread
- Canada’s main stock index rose on Monday investors drew comfort from a slowdown in coronavirus-related deaths and new cases in many parts of the world.* At 9:43 a.m. ET (1343 GMT), the Toront…
- 04/06/2020
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CANADA STOCKS-TSX climbs on hopes of slowing virus spread
- April 6 (Reuters) - Canada's main stock index rose on Monday investors drew comfort from a slowdown in coronavirus-related deaths and new cases in many parts of the world.
* At 9:43 a.m. ET (1343 GMT), the Toronto Stock Exchange's S&P/TSX composite i
- 04/06/2020
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Shares of several energy companies are trading higher amid anticipated progress on Saudi-Russian supply cut talks. UPDATE: Sector is now mixed.
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Will This Be The Slowest Year Ever For Oil & Gas Mergers?
- Last year’s oil and gas merger mania seems to have stopped in its tracks as crashing oil prices and the coronavirus crisis weighs on the industry
- 04/04/2020
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OPEC+ Rejoice: U.S. Production Cuts On The Way
- Late in 2019, OPEC+ predicted shale would grow by 4 mmbpd by 2025, further eating into its market share. The combination of recent market share threats and COVI
- 04/04/2020
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Bear market bingo: Five ways investors can pass the time during the COVID-19 crisis
- Peter Hodson: While you are stuck at home see if you can spot these things in today’s unusual investment world
- 04/03/2020
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CANADA STOCKS-TSX turns negative as recession fears outweigh energy boost
- Canada's main stock index gave up early gains to trade lower on Friday, as fears of a deep recession fueled by the coronavirus pandemic overshadowed gains in energy stocks boosted by higher oil prices. * Canada faces "a critical week" in fighting the coronavirus, a senior official said, as the death toll surged to 161 from 105 on Wednesday, while positive cases rose to 11,131 from 9,017. * At 9:51 a.m. ET (1351 GMT), the Toronto Stock Exchange's S&P;/TSX composite index was down 40.98 points, or 0.31%, at 13,056.86.
- 04/03/2020
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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.
- 04/03/2020
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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.
- 04/03/2020
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The Keystone XL Deal Explained: Here's What You Need To Know
- The long-delayed pipeline has encountered significant regulatory, legal and environmental setbacks over the years.
- 04/03/2020
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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.
- 04/03/2020
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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.
- 04/03/2020
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TSLA, ET among premarket gainers
- Capricor Therapeutics (NASDAQ:CAPR) +26% on providing its CAP-1002 cell therapy under compassionate use for patients with advanced COVID-19.Fate Therapeutics (NASDAQ:FATE) +19% on J&J cell therapy
- 04/03/2020
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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...
- 04/03/2020
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Shares of several oil and gas companies are trading higher on expectations of an oil output cut by major producers. OPEC countries have scheduled an urgent meeting next week to try and resolve their oil cut dispute.
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COVID-19 roundup: Counting to 30 per cent
- Startups and high-growth companies continue to worry they won’t be eligible for the Canada Emergency Wage Subsidy because of a requirement they show their monthly revenue has declined year over year
- 04/02/2020
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Cenovus backs further curtailment as Alberta mulls global oil cut
- Canada's Cenovus Energy Inc on Thursday said it would support any further moves by the oil-rich province of Alberta to curtail production as the industry scrambles to head off a storage crunch. The endorsement comes as Alberta Premier Jason Kenney said the western Canadian province is open to joining any potential global pact to reduce a glut of crude production. Storage levels in Alberta, home to the world's third-largest crude reserves, have ballooned to around 30 million barrels and are fast approaching capacity of about 40 million as producers park crude to cope with plummeting demand, according to Royal Bank of Canada (RBC) analysts.
- 04/02/2020
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Trump's Tweets Send Oil Stocks Screaming Higher Today
- The president says Russia and Saudi Arabia are about to put an end to their price war.
- 04/02/2020
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TSX higher as energy shares gain on oil bounce
- Canada’s main stock index rose on Thursday, led by energy shares as crude prices soared after U.S. President Donald Trump said he expected Saudi Arabia and Russia to reach a deal soon to end …
- 04/02/2020
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Analysts' Top Materials Picks: Propetro Holding (PUMP), Canadian Natural (CNQ)
- There's a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Propetro Holding (PUMP) and Canadian Natural (CNQ) with
- 04/02/2020
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RDS.A, ARNC among top premarket gainers
- ION Geophysical (NYSE:IO) +120% on expecting big jump in Q1 revenues.Neptune Wellness Solutions (NASDAQ:NEPT) +47% on receiving health Canada authorization to commercialize natural, plant-based hand s
- 04/02/2020
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Cenovus further cuts 2020 spending, suspends dividend citing oil prices
- The fall in crude prices have forced producers to look for ways to reduce cost, and Cenovus said its measures included a 25% cut in compensation for chief executive officer and board members. The company's other executives will take a 12%-15% reduction in annual base salary, while employees at other levels will experience a graduated smaller salary impact, Cenovus said. Last month, Cenovus announced a near 32% cut to its capital spending for the year and a temporary suspension of its crude-by-rail program, as an erupting Saudi-Russia oil price war dealt a blow to the struggling Canadian oil industry.
- 04/02/2020
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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.
- 04/02/2020
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Shares of several oil and gas companies are trading higher after President Trump said he expects Russia and Saudi Arabia to announce a 10 million barrel supply cut.
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Mid-Day Market Update: SG Blocks Surges Following Q4 Results; Seanergy Maritime Shares Plummet
- Midway through trading Tuesday, the Dow traded up 0.23% to 22,379.93 while the NASDAQ rose 0.80% to 7,836.42. The S&P also rose, gaining 0.20% to 2,631.27.
The U.S. is now the...
- 03/31/2020
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HAL, APA among premarket gainers
- SG Blocks (NASDAQ:SGBX) +100% on Q4 results.EyeGate Pharmaceuticals (NASDAQ:EYEG) +51% on positive dry eye data.Kiniksa Pharmaceuticals (NASDAQ:KNSA) +39% as mavrilimumab shows treatment response in C
- 03/31/2020
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UBS Maintains Neutral on Cenovus Energy, Lowers Price Target to C$2.7
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Shares of several oil companies are trading lower, selling off from Thursday's strength. While US stimulus legislation has boosted economic optimism, demand concerns still exist amid the coronavirus outbreak.
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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.
- 03/25/2020
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Shares of several oil and gas companies are trading higher despite downward move in crude futures. Movement potentially related to market strength after the White House and Senate reached a $2 trillion stimulus deal aimed at supporting the economy.
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Suncor Energy Limits 2020 Capex by 26%, Lowers Output Guidance
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The First Oil Company Bailout Of 2020 Is Happening In Canada: Select Shares Soar
- Alberta begins bailing out local oil companies. Select company shares soar. Likely more to come, offering ray of hope in bombed - out shares.
- 03/23/2020
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Cenovus Energy Inc. -- Moody's downgrades Cenovus to Ba2; outlook negative
- Moody's Investors Service (Moody's) downgraded Cenovus Energy Inc.'s (Cenovus) corporate family rating (CFR) to Ba2 from Ba1, probability of default rating to Ba2-PD from Ba1-PD and senior unsecured notes rating to Ba2 from Ba1. The speculative grade liquidity rating was downgraded to SGL-2 from SGL-1. The Not Prime commercial paper rating was affirmed.
- 03/20/2020
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Biotech and hospitality stocks among premarket gainers
- Bellerophon Therapeutics (NASDAQ:BLPH) +472% on FDA nod for emergency use of INOpulse for Covid-19.Rand Capital (NASDAQ:RAND) +87% on its portfolio company developing automated test kits for detection
- 03/20/2020
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Parsley Energy Slashes 2020 Capex by 40%, Expects $225M FCF
- Taking the current market volatility into account, Parsley Energy's (PE) executive heads plan to cut their respective annual cash compensations by at least 50% from the prior- year level.
- 03/20/2020
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Parsley Energy Slashes 2020 Capex by 40%, Expects $225M FCF
- Taking the current market volatility into account, Parsley Energy's (PE) executive heads plan to cut their respective annual cash compensations by at least 50% from the prior- year level.
- 03/20/2020
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Shares of several oil companies are trading higher after US President Trump suggested he could intervene in the price war between Russia and Saudi Arabia as well as on news of US plans to purchase crude oil for an emergency stockpile.
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Analysts Are Bullish on These Materials Stocks: Parsley Energy (PE), Canadian Natural (CNQ)
- There's a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Parsley Energy (PE) and Canadian Natural (CNQ) with bullish
- 03/19/2020
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Concho Resources Endures Weak Oil Price, Trims Capex to $2B
- Concho Resources' (CXO) success in sustaining a solid financial base in 2019 with $2.1 billion of liquidity and no near-term debt maturities is pleasing to investors' ears.
- 03/18/2020
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Concho Resources Endures Weak Oil Price, Trims Capex to $2B
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Hedge Funds Have Never Been This Bullish On Cenovus Energy Inc (CVE)
- Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]
- 03/17/2020
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Hedge Funds Were Buying Fidelity National Financial Inc (FNF) Before The Coronavirus
- We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]
- 03/17/2020
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Hedge Funds Were Right About Avoiding InterContinental Hotels Group PLC (IHG)
- Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]
- 03/17/2020
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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.
- 03/17/2020
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Shares of several oil companies are trading lower as oil prices fall amid the global coronavirus outbreak, which has weakened travel and commercial activity. Saudi Aramco reiterated plans to boost output, further pressuring prices.
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Tracking William Nygren's Harris Associates Portfolio - Q4 2019 Update
- Harris Associates 13F portfolio increased from $51.5B to $56.4B this quarter. They increased Liberty Global, Open Text, and DXC Technology while decreasing Appl
- 03/17/2020
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Stock market rout doubles pain for energy firms that took shares for deals
- EnCap's big payday, 153 million WPX shares valued at $1.6 billion plus $900 million in cash, proved short-lived as convulsing oil and stock markets knocked nearly two-thirds off the value of WPX shares within days of the closing. Shale companies and their investors have been divesting operations
- 03/16/2020
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Stock market rout doubles pain for energy firms that took shares for deals
- Energy investor EnCap Investments pulled off a rarity in the U.S. shale business earlier this month, the $2.5 billion sale of oil producer Felix Energy to rival WPX Energy Inc, striking a deal at a…
- 03/16/2020
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Stock market rout doubles pain for energy firms that took shares for deals
- Energy investor EnCap Investments pulled off a rarity in the U.S. shale business earlier this month, the $2.5 billion sale of oil producer Felix Energy to rival WPX Energy Inc, striking a deal at a time when energy mergers have all but dried up. EnCap's big payday, 153 million WPX shares valued
- 03/16/2020
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Price Crash Forces U.S. Oil Companies to Slash Budgets
- While plunging oil prices force U.S. producers to take a step back, it can lead to balance sheet strength and increasing financial flexibilities.
- 03/13/2020
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Price Crash Forces U.S. Oil Companies to Slash Budgets
- While plunging oil prices force U.S. producers to take a step back, it can lead to balance sheet strength and increasing financial flexibilities.
- 03/13/2020
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Cenovus Energy To Suspend Crude-By-Rail Program In 2020
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Stocks That Hit 52-Week Lows On Thursday
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Shares of several oil companies are trading lower as oil prices fall after Trump announced travel restrictions in an attempt to halt the spread of the coronavirus. Oil has also been hit by Saudi Arabia's recent actions to raise oil production capacity.
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American Airlines Group Inc (AAL): Are Hedge Funds Right About This Stock?
- Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published this article and predicted that US stocks will go down by at least 20% in the next 3-6 months. We also told you to short the market ETFs and buy long-term bonds. Investors who agreed with
- 03/11/2020
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Oil Firms May Cut Dividends Ahead: ETFs & Stocks in Focus
- If oil prices slip to around $20, we might see several dividend cuts in the space.
- 03/11/2020
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Oil Firms May Cut Dividends Ahead: ETFs & Stocks in Focus
- If oil prices slip to around $20, we might see several dividend cuts in the space.
- 03/11/2020
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Global Oil Price War Begins: ETFs in Focus
- Declining demand and OPEC+ producers' inability to crack an output cut deal dragged down oil prices and triggered a price war. These ETFs should be watched closely.
- 03/11/2020
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United Rentals, Inc. (URI): Hedge Funds Smelled Blood In The Water
- Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published this article and predicted that US stocks will go down by at least 20% in the next 3-6 months. We also told you to short the market ETFs and buy long-term bonds. Investors who agreed with
- 03/11/2020
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JP Morgan Maintains Neutral on Cenovus Energy, Lowers Price Target to C$5.5
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The War Has Only Just Begun
- Oil prices have rebounded by 8 percent since Monday’s historic rout, but the oil price war is only just beginning and Saudi Arabia are preparing for oil prices to go significantly lower
- 03/10/2020
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Why Oil Stocks Are Bouncing Back Today
- Crude oil prices are rebounding off yesterday's bottom.
- 03/10/2020
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ET, OXY among premarket gainers
- Ovintiv (NYSE:OVV) +67% after yesterday's 72% plunge.Cypress Semiconductor (NASDAQ:CY) +47% on received clearance from the Committee on Foreign Investment in the United States to be acquired by German
- 03/10/2020
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Cenovus Energy is Reducing Its 2020 Capital Spending by ~32% in Order to Maintain the Strength of Its Balance Sheet Due to Low Oil Prices
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