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Cenovus Energy (CVE) closed at $19.06 in the latest trading session, marking a -0.31% move from the prior day.
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.
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.
Cenovus (CVE) reported earnings 30 days ago. What's next for the stock?
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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.
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?
Cenovus' (CVE) Q1 earnings gain from higher contributions from the Oil Sands unit and lower expenses.
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.
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.