In the latest market close, Cenovus Energy (CVE) reached $16.20, with a -0.25% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.54% for the day. Elsewhere, the Dow saw an upswing of 0.72%, while the tech-heavy Nasdaq appreciated by 0.65%. Heading into today, shares of the oil company had lost 18.27% over the past month, lagging the Oils-Energy sector's loss of 3.91% and the S&P 500's gain of 4.86% in that time. The investment community will be closely ...

Hill Street Studios/DigitalVision via Getty Images We have been fairly constructive on Cenovus Energy (TSX:CVE:CA) in our recent work. We gave it a buy rating in the last two articles and also found a way to dig some returns out of the Husky preferred shares. Cenovus: Three Headwinds Explain The Underperformance cwrEF, CVE • Dec. 15, 2023 • 63 Comments • Make Analysts Pick BDY Cenovus Energy: Preferred Shares Look Incredibly Attractive CVE, CVE.PR.A:CA ・Jul. 14, 2023 ・50 Comments ・Make Analyst's Pick BUY Se ...

Cenovus Energy Inc. (CVE) reported second-quarter 2024 adjusted earnings per share of 39 cents, which missed the Zacks Consensus Estimate of 52 cents. However, the bottom line increased from the year-ago quarter's figure of 33 cents. Total quarterly revenues of $10.88 billion topped the Zacks Consensus Estimate of $9.78 billion. The top line also increased from the year-ago quarter's level of $9.1 billion. The weaker-than-expected quarterly earnings can be primarily attributed to a significant decline in pr ...

1 -1 C F 車 ImagineGolf All financial numbers in this article are in Canadian dollars unless noted otherwise. Please note that oil and gas prices are always in U.S. dollars. Introduction "Nobody" is bullish on commodities anymore. As reported by Bloomberg on August 2, hedge funds (money managers) have turned bearish on commodities for the first time since 2016. In this case, "bearish" is defined by having net short positions, as the chart below shows. Bloomberg This is absolutely fascinating, as 2016 was a h ...

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 Ne ...

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. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -25%. A quarter ago, it was expected that this oil company would post earnings of $0.35 per share when it actually produced earnings of $0.46, delivering a surprise of 31.43%. Over the last four quarters, the compan ...

Core Viewpoint - Cenovus Energy Inc. reported strong operational performance in Q2 2024, achieving significant financial milestones, including a reduction in net debt and a commitment to return excess free funds flow to shareholders starting in Q3 2024 [1][2]. Financial Performance - Total revenues for Q2 2024 were approximately $14.9 billion, up from $13.4 billion in Q1 2024, driven by improved benchmark oil prices and strong operating results [5]. - Cash from operating activities was about $2.8 billion in Q2 2024, compared to $1.9 billion in Q1 2024 [12]. - Net earnings for Q2 2024 were $1.0 billion, a slight decline from $1.2 billion in Q1 2024, primarily due to higher costs [12][13]. - Adjusted funds flow was approximately $2.4 billion in Q2 2024, compared to $2.2 billion in the previous quarter [12]. Production and Throughput - Total upstream production was 800,800 barrels of oil equivalent per day (BOE/d) in Q2 2024, consistent with Q1 2024 [6]. - Downstream throughput decreased to 622,700 barrels per day (bbls/d) in Q2 2024 from 655,200 bbls/d in Q1 2024 due to planned maintenance [9][10]. - The company achieved an upstream production guidance midpoint increase to 797,500 BOE/d and downstream throughput guidance to 655,000 bbls/d [2]. Debt and Shareholder Returns - Net debt was $4.26 billion at June 30, 2024, down from $4.8 billion at March 31, 2024, with a target of $4.0 billion achieved in July 2024 [13]. - The company plans to return 100% of excess free funds flow to shareholders starting in Q3 2024, following the achievement of its net debt target [2][13]. Growth Projects and Capital Investments - The Narrows Lake tie-back pipeline project is expected to achieve mechanical completion by the end of 2024, with first oil delivery anticipated in mid-2025 [2]. - Significant milestones were reached in the West White Rose project, with major construction components completed [15]. - Capital investments in the Oil Sands segment are focused on drilling, completion, and infrastructure projects, with an expected increase in drilling activity in the second half of the year [14][15]. Dividend Declarations - The Board of Directors declared a quarterly base dividend of $0.180 per common share, payable on September 27, 2024 [18]. - In Q2 2024, the company returned approximately $1.0 billion to common shareholders through various means, including dividends and share buybacks [20].

Core Insights - The article discusses the potential of nuclear fusion as a limitless source of clean energy and highlights companies investing in this technology, including Chevron, Cenovus Energy, and Eni [1][3][11]. Company Summaries - **Chevron (CVX)**: Known for its hydrocarbon-focused business, Chevron has also invested in nuclear fusion, notably in Zap Energy, a startup developing modular nuclear reactors. Analysts project Chevron's sales to reach $200.48 billion by the end of the year, reflecting a growth rate of 6.8% from 2023's $187.73 billion [3][4][14]. - **Cenovus Energy (CVE)**: This Canadian integrated oil and gas company is also diversifying into nuclear fusion. For fiscal 2024, analysts expect Cenovus to generate $41.38 billion in revenue, indicating an 8.4% growth rate. The high-side estimate is just under $43 billion [6][7]. - **Eni (E)**: Based in Italy, Eni is primarily involved in fossil fuels but is also looking to diversify into nuclear fusion. The company trades at a modest valuation of 0.52X trailing-year sales, compared to the sector average of 1.15X, and offers a forward yield of 6.8%. Eni has partnered with Commonwealth Fusion System to accelerate nuclear fusion energy development, aiming to provide electricity to the grid by the early 2030s [8][9][17].

From greatly improving stock investing profits and reducing overall portfolio risk to providing tax advantages, investors like dividends for a variety of different reasons. It's important to keep in mind that not all companies provide a quarterly payout. Cenovus Energy (CVE) is headquartered in Calgary, and is in the Oils-Energy sector. The stock has seen a price change of 22.7% since the start of the year. The oil company is currently shelling out a dividend of $0.23 per share, with a dividend yield of 2.5 ...

Cenovus Energy Inc. (CVE) has decided to demobilize some of its workers at the Sunrise oil sands site in the wake of blazing wildfires across northern Alberta. The wildfires do not pose any threat to the company's operations at present. However, as a precautionary measure, the staff that is not directly involved in operations is being demobilized from the site. CVE stated that it has been closely communicating with the provincial and municipal agencies to aid their efforts in controlling the situation. The ...