CVE Stock Recent News

Cenovus will begin planned maintenance work on multiple units at its 160,000-barrel-per-day refinery in Toledo, Ohio in mid April, a source familiar with plant operations said on Thursday.

Cenovus Energy (CVE) concluded the recent trading session at $14.30, signifying a +1.2% move from its prior day's close.

The Series 5 preferred will be redeemed.  This cuts the amount of preferred outstanding roughly in half when combined with the Series 3 redemption. The net debt level needs to decline to the C$4 billion level again. The capital budget is front end loaded.  Therefore, free cash flow will be higher in the second half of the fiscal year.

In the closing of the recent trading day, Cenovus Energy (CVE) stood at $13.07, denoting a -1.13% change from the preceding trading day.

President Trump aims to lower oil prices, but domestic production growth faces challenges. The administration may turn to OPEC+ and political pressure to boost supply. Despite short-term volatility, my long-term oil thesis remains strong. U.S. producers remain competitive, and global demand continues to grow, supporting energy investments. I focus on high-quality oil and gas stocks with strong balance sheets, low breakeven prices, and deep reserves. These companies offer stability and long-term upside.

President Trump's 25% import tariffs on Mexico and Canada and an additional 10% tariff on China are causing investors to seek shelter from the potential fallout. Canada is of particular concern since it is a top supplier of energy to the United States, including crude oil and natural gas.

A contrarian mindset can help dividend investors find bargains, with Crescent Capital BDC and Cenovus Energy offering high yields after recent price drops. Crescent Capital BDC carries a diversified debt portfolio, strong dividend coverage, and a safe leverage profile, making it a compelling buy at a 9% discount to book value. Cenovus Energy's integrated operations and cost optimization efforts position it for long-term growth, with plans to return 100% of excess free cash flow to shareholders.

CALGARY, Alberta, Feb. 27, 2025 (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 4.591% Series 5 Preferred Shares (the “Series 5 Preferred Shares”) on March 31, 2025 (the “Redemption”). All 8 million Series 5 Preferred Shares outstanding will be redeemed at the price of $25.00 per share, for an aggregate amount payable to holders of $200 million, less required withholdings, if any, funded primarily from cash on hand.

CVE's Q4 earnings and revenues lag estimates on lower contributions from key units. Both the top and bottom lines decrease year over year.

CVE is cheap due to worries about tariffs, even though those are far from guaranteed. The company should see better free cash generation this year. CVE trades at a very undemanding valuation right now and offers a compelling shareholder yield.