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Cenovus Energy (NYSE:CVE) Azioni, Report sulle vendite allo scoperto

Cenovus Energy

Cenovus Energy Inc 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 786 thousand barrels of oil equivalent per day in 2022. The company had upstream projects across Western Canada; crude oil production and natural gas and NGLs production offshore China and Indonesia. The downstream operations include upgrading and refining operations in Canada and the U.S., and commercial fuel operations across Canada.

Cenovus Energy Inc

Cenovus Energy Inc Warrants (each warrant entitles the holder to purchase one common share at an exercise price of C$6.54 per share)

Civeo Corp

News

Buybacks

Cenovus Energy Approves Renewal Of Normal Course Issuer Bid To Purchase Up To 127.49M Common Shares During 12-month Period Commencing November 11, 2024 And Ending November 10, 2025.

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Shares of oil and gas companies are trading higher After Donald Trump wins the 2024 presidential election.

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Shares of oil and gas companies are trading higher following reports suggesting OPEC+ will delay output increases.

BMO Capital analyst Randy Ollenberger maintains Cenovus Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVE#NYSE">CVE</a>) with a Outperform and lowers the price target from $31 to $28.

Price Target

Analyst Ratings

BMO Capital Maintains Outperform on Cenovus Energy, Lowers Price Target to $28

RBC Capital analyst Greg Pardy maintains Cenovus Energy (TSX:<a class="ticker" href="https://www.benzinga.com/stock/CVE#TSX">CVE</a>) with a Outperform and lowers the price target from C$29 to C$28.

TSX:CVE

RBC Capital Maintains Outperform on Cenovus Energy, Lowers Price Target to C$28

Cenovus Energy shares are trading lower after the company reported worse-than-expected Q3 EPS results.

Cenovus Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVE#NYSE">CVE</a>) reported quarterly earnings of $0.42 per share which missed the analyst consensus estimate of $0.49 by 14.29 percent. This is a 56.7 percent decrease over earnings of $0.97 per share from the same period last year. The company reported quarterly sales of $14.200 billion which beat the analyst consensus estimate of $13.592 billion by 4.47 percent. This is a 30.68 percent increase over sales of $10.866 billion the same period last year.

Earnings

Earnings Beats

Earnings Misses

Cenovus Energy Q3 2024 GAAP EPS C$0.42 Misses C$0.49 Estimate, Sales C$14.200B Beat C$13.592B Estimate

Cenovus Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVE#NYSE">CVE</a>) is set to give its latest quarterly earnings report on Thursday, 2024-10-31. Here's what investors need to know before the announcement.
Analysts estimate that Cenovus Energy will report an earnings per share (EPS) of $0.54. 
Investors in Cenovus Energy are eagerly awaiting the company's announcement, hoping for news of surpassing estimates and positive guidance for the next quarter.
It's worth noting for new investors that stock prices can be heavily influenced by future projections rather than just past performance.
<h3>Earnings Track Record</h3>
The company's EPS missed by $0.13 in the last quarter, leading to a 5.15% drop in the share price on the following day.
Here's a look at Cenovus Energy's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.52</td>
<td>0.39</td>
<td>0.25</td>
<td>0.71</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.39</td>
<td>0.46</td>
<td>0.29</td>
<td>0.72</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-5.0%</td>
<td>1.0%</td>
<td>-0.0%</td>
<td>-2.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1730300485_0.png" alt="eps graph" />
<a href="https://www.benzinga.com/quote/CVE/earnings">To track all earnings releases for Cenovus Energy visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insights into Cenovus Energy's Upcoming Earnings

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Shares of oil and oil-related companies are trading lower after Israel reportedly did not damage Iran's oil sites amid strikes over the weekend.

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Shares of energy stocks are trading lower as oil prices fall after Israel reportedly indicated it could target military sites in Iran but not oil or nuclear targets.

Cenovus Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVE#NYSE">CVE</a>) has outperformed the market over the past 5 years by 1.84% on an annualized basis producing an average annual return of 15.83%. Currently, Cenovus Energy has a market capitalization of $32.82 billion. 
Buying $1000 In CVE: If an investor had bought $1000 of CVE stock 5 years ago, it would be worth $2,106.76 today based on a price of $17.68 for CVE at the time of writing.
<h3>Cenovus Energy's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728586836_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

If You Invested $1000 In This Stock 5 Years Ago, You Would Have $2,100 Today

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Shares of energy companies are trading lower, pulling back after recently rising amid Middle East tensions. China stimulus uncertainty may also be impacting the demand outlook.

BMO Capital analyst Randy Ollenberger maintains Cenovus Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVE#NYSE">CVE</a>) with a Outperform and lowers the price target from $33 to $31.

BMO Capital Maintains Outperform on Cenovus Energy, Lowers Price Target to $31

Cenovus Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVE#NYSE">CVE</a>) has outperformed the market over the past 5 years by 1.64% on an annualized basis producing an average annual return of 16.18%. Currently, Cenovus Energy has a market capitalization of $32.44 billion. 
Buying $1000 In CVE: If an investor had bought $1000 of CVE stock 5 years ago, it would be worth $2,008.17 today based on a price of $17.48 for CVE at the time of writing.
<h3>Cenovus Energy's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727881396_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $1000 Invested In Cenovus Energy 5 Years Ago Would Be Worth Today

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Shares of energy companies are trading higher amid heightening Middle East tensions. A report suggests Iran is preparing to directly attack Israel, which could create shocks to the global economy.

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Shares of oil gas companies are trading lower amid reports suggesting Saudi Arabia may raise output.

RBC Capital analyst Greg Pardy reiterates Cenovus Energy (TSX:<a class="ticker" href="https://www.benzinga.com/stock/CVE#TSX">CVE</a>) with a Outperform and maintains C$29 price target.

Reiteration

RBC Capital Reiterates Outperform on Cenovus Energy, Maintains C$29 Price Target

Shares of oil companies are trading higher amid anticipation for potential conflict escalations between Israel-Lebanon and the broader region.

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Shares of oil and gas companies are trading higher amid a rise in the price of oil after the Fed cut rates, which could lift the demand outlook. Also, ongoing tension in the Middle East could increase supply

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Shares of oil and gas companies are trading lower following reports suggesting an impending deal will restart Libyan oil production and exports.

Desjardins raised the firm's price target on Cenovus Energy (CVE) to C$30 from C$29.50 and keeps a Buy rating on the shares. Published first on The...

Cenovus Energy price target raised to C$30 from C$29.50 at Desjardins

Canada sets preliminary rules aiming for oil and gas producers to cut emissions by 35%

Cenovus Energy to commence normal course issuer bid

Cenovus Energy (TSE:CVE) has released an update. Cenovus Energy has announced the renewal of its share buyback program, allowing the company to rep...

Cenovus Energy Renews Share Buyback Program

Fidelity Select Energy Portfolio Q3 2024 Review

JPMorgan's 'Analyst Focus List' – growth, income, value, short ideas

Cenovus: Record Valuation Discount Could Set Up Strong Returns

Given increasing geopolitical concerns, rising oil prices, and extending OPEC+ production cuts, the oil and gas market is poised for robust growth. Therefore, fundamentally solid energy stocks Cenovus Energy (CVE), Suncor Energy (SU), and Energy Transfer (ET) could be ideal investment choices. Read more... The ongoing conflicts in the Middle East have significantly impacted the supply and demand of oil and gas across the globe. Due to the constrained supplies, world oil and gas demand is expected to see unprecedented growth.
Given the industry tailwinds, it could be wise to invest in fundamentally sound energy stocks Cenovus Energy Inc. (<a href="https://stocknews.com/stock/CVE/">CVE</a>), Suncor Energy Inc. (<a href="https://stocknews.com/stock/SU/">SU</a>), and Energy Transfer LP (<a href="https://stocknews.com/stock/ET/">ET</a>) for gains amid global demand.
In its recent short-term energy outlook, <a href="https://www.eia.gov/outlooks/steo/">EIA expects an increase of over 1.0 million</a> barrels per day (b/d) in global consumption of liquid fuels this year, and stronger growth is projected in the next year, with global oil consumption rising by 1.2 million b/d.
Also, escalating geopolitical risks in the Middle East and withdrawals from global oil inventories stemming from OPEC+ production cuts are likely to pressure oil prices upwards over the next few months, with the Brent crude oil price averaging $78 per barrel (b) in the first quarter of 2025.
EIA also forecasts that the <a href="https://www.iea.org/reports/oil-market-report-november-2024">world oil demand will expand by 920 kb/d in 2024</a> and by 1 mb/d in 2025, respectively, to 102.8 mb/d and 103.8 mb/d.
Further, <a href="https://www.iea.org/news/natural-gas-demand-growth-picks-up-in-2024-amid-uncertainties-over-supply">global demand for natural gas</a> has also been increasing at a faster rate this year compared to the previous two years. Global gas demand is anticipated to rise by more than 2.5% in 2024, and a similar rate is expected in 2025, driven by demand from fast-growing markets.
With these encouraging trends in mind, let's delve into the fundamentals of the three <a href="https://stocknews.com/category/energy-oil-gas/">Energy – Oil &amp; Gas</a> stock picks, beginning with the third choice.
Stock #3: Cenovus Energy Inc. (<a href="https://stocknews.com/stock/CVE/">CVE</a>)
Headquartered in Calgary, Canada, CVE develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. It operates in Oil Sands; Conventional; Offshore; Canadian Refining; and U.S. Refining segments.
On October 31, CVE's Board of Directors declared a quarterly base dividend of $0.18 per common share, payable on December 31, 2024, to shareholders of record as of December 13, 2024.
Also, the Board declared a quarterly dividend on each of the cumulative redeemable first preferred shares as follows: $0.16 on Series 1, $0.37 on Series 2, $0.29 on Series 3, $0.287 on Series 5 and $0.24 on Series 7, payable on December 31, 2024, to shareholders of record as of December 13, 2024.
CVE's annual dividend of $0.63 translates to a yield of 3.72% at the current share price. Its four-year average dividend yield is 1.45%. Further, the company's dividend payouts have increased at a CAGR of 123.5% over the past three years.
During the third quarter that ended September 30, 2024, CVE reported <a href="https://www.investopedia.com/terms/r/revenue.asp">revenues</a> of C$14.25 billion ($10.19 billion) and its earnings before income tax was C$1.02 billion ($732.59 million). Its net earnings came in at C$820 million ($586.64 million) and C$0.42 per common share for the quarter, respectively.
In addition, the company's adjusted funds flow stood at C$1.96 billion ($1.40 billion) and C$1.05 per share, respectively.
Street expects CVE's EPS for the fourth quarter (ending December 2024) to increase 25.1% year-over-year to $0.35, and its revenue for the ongoing quarter is expected to grow 15.9% year-over-year to $11.31 billion. Also, the company has surpassed the consensus revenue estimate in three of the trailing four quarters.
CVE's stock has slumped 5.1% over the past month to close the last trading session at $16.16.
CVE's solid fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. It has an overall rating of B, which equates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
CVE has a B grade for Quality. It is ranked #13 out of 77 stocks in the <a href="https://stocknews.com/category/energy-oil-gas/">Energy – Oil &amp; Gas</a> industry.
In addition to the POWR Ratings we've stated above, we also have CVE ratings for Sentiment, Growth, Value, Momentum, and Stability. Get all CVE ratings <a href="https://stocknews.com/stock/CVE/">here</a>.
Stock #2: Suncor Energy Inc. (<a href="https://stocknews.com/stock/SU/">SU</a>)
Based in Calgary, Canada, SU operates as an integrated energy company internationally. The company operates in Oil Sands; Exploration and Production; and Refining and Marketing segments. The company explores, develops, and produces bitumen, synthetic crude oil, and related products.
On November 12, SU's Board of Directors approved a quarterly dividend of $0.57 per common share, reflecting an increase of 5% over the prior quarterly dividend. The dividend will be paid on December 24, 2024, to shareholders of record at the close of business on December 3, 2024.
SU pays an annual dividend of $1.63, which translates to a yield of 3.98% at the current share price. Its four-year average dividend yield is 4%. Moreover, the company's dividend payouts have increased at a CAGR of 33.9% over the past three years.
For the third quarter that ended September 30, 2024, SU reported adjusted operating earnings of C$1.87 billion ($1.34 billion) or C$1.48 per common share, respectively. The company's adjusted funds from operations stood at $3.79 billion ($2.71 billion) and C$2.98 per common share, up 4.2% and 6.4% from the prior year's quarter.
Furthermore, the company's free funds flow rose 8.5% year-over-year to C$2.23 billion ($1.60 billion).
Street expects SU's revenue for the first quarter (ending March 2025) to increase 4.1% year-over-year to $9.50 billion, and its EPS for the same period is expected to be $0.62. Furthermore, the company surpassed the consensus EPS estimates in all of the trailing four quarters.
SU's stock has surged 4.2% over the past month and 22% over the past year to close the last trading session at $40.83.
SU's bright prospects are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
The stock has an A grade for Quality and a B grade for Stability and Momentum. SU is ranked #7 among 77 stocks in the same industry.
<a href="https://stocknews.com/stock/SU/">Click here</a> to access SU's ratings for Growth, Value, and Sentiment.
Stock #1: Energy Transfer LP (<a href="https://stocknews.com/stock/ET/">ET</a>)
ET is an energy-related services provider. It operates natural gas transportation pipelines, natural gas storage facilities in Texas and Oklahoma, and nearly 20,090 miles of interstate natural gas pipeline.
On October 28, ET increased its quarterly cash distribution to $0.32 per common unit for the third quarter ended September 30, 2024, representing an increase of 3.2% as compared to the third quarter of 2023. The cash distribution was paid on November 19, 2024, to unitholders of record as of the close of business on November 8, 2024.
ET's annual dividend of $1.29 translates to a yield of 7.06% at the current share price. Its four-year average dividend yield is 8.19%. And its dividend payouts have increased at 27.9% CAGR over the past three years.
Also, on July 16, ET and Sunoco LP (<a href="https://stocknews.com/stock/SUN/">SUN</a>) entered a joint venture to combine their crude oil and produced water-gathering assets in the Permian Basin. ET will hold a 67.5% interest in the joint venture, with Sunoco holding a 32.5% interest. ET will oversee over 5,000 miles of pipelines and 11 million barrels of storage capacity.
During the third quarter that ended September 30, 2024, ET's revenues rose marginally year-over-year to $20.77 billion. The company's net income amounted to $1.43 billion and $0.32 per common unit, up 37% and 113.3% from the prior year's quarter, respectively.
Also, the company's adjusted EBITDA increased 11.8% year-over-year to $3.96 billion. Its distributable cash flow rose by 4.7% from the prior year to $2.63 billion.
Analysts expect ET's revenue and EPS for the fourth quarter (ending December 2024) to grow 16.9% and 1.6% year-over-year to $23.99 billion and $0.38, respectively. For the fiscal year 2024, the company's revenue and EPS are expected to grow 3.1% and 33.5% year-over-year to $81.04 billion and $1.46.
Shares of ET have surged 13.3% over the past six months and 34.8% over the past year to close the last trading session at $18.28.
ET's POWR Ratings reflect its robust outlook. The stock has an overall rating of B, equating to a Buy in our proprietary rating system.
The stock has an A grade for Momentum and a B grade for Value, Sentiment, and Stability. In the Energy - Oil &amp; Gas industry, ET is ranked #4 on 77 stocks.
<a href="https://stocknews.com/stock/ET/">Click here</a> to access additional ratings of ET for Growth and Quality.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
<a href="https://report.stocknews.com/free-report/3stocks/?formplacement=artbotad_3s">3 Stocks to DOUBLE This Year &gt;</a>

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ET shares were trading at $18.40 per share on Thursday morning, up $0.12 (+0.66%). Year-to-date, ET has gained 44.52%, versus a 25.27% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/et-su-cve-3-energy-stocks-primed-for-gains-amid-global-demand/>3 Energy Stocks Primed for Gains Amid Global Demand</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Energy Stocks Primed for Gains Amid Global Demand

Cenovus Energy (TSE:CVE) has released an update. Cenovus Energy has announced it will redeem its Series 3 Preferred Shares at $25 per share, totali...

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Cenovus Energy (NYSE:CVE) Azioni, Report sulle vendite allo scoperto

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