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Energy stocks – particularly those focused on natural gas – look particularly interesting at the moment. natural gas prices plunged by 62% in 2023.
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.
Cenovus Energy (CVE) sets the stage for a major production leap of 19% over the next five years, eyeing 950K boe/day by 2029.
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.
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.
Cenovus' (CVE) Q4 earnings gain from higher contributions from the Oil Sands unit and lower expenses.
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.
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.
Cenovus Energy narrowly missed estimates for quarterly profit on Thursday, hit by lower oil prices.
While decreased commodity prices are likely to have hurt Cenovus Energy's (CVE) Q4 earnings, higher production may have partially offset the negative.