CVE Stock Recent News

Cenovus Energy (CVE) came out with quarterly earnings of $0.33 per share, beating the Zacks Consensus Estimate of $0.32 per share. This compares to earnings of $0.93 per share a year ago.

Oil and gas producer Cenovus Energy Inc reported a 64% fall in second-quarter profit on Thursday, hurt by lower oil prices and wildfires in Canada's main oil producing province Alberta which forced producers to curtail production.

Cash flow from operating activities has increased far more than the Cenovus Energy Inc. stock price. The company went from primarily a thermal producer to an integrated company. This is something that is new to the market. Acquisitions are likely to proceed at a slower pace.

CALGARY, Alberta, July 20, 2023 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will release its second-quarter 2023 results on Thursday, July 27. The news release will provide consolidated second-quarter operating and financial information. The company's financial statements will be available on Cenovus's website, cenovus.com.

Cenovus Energy has made steady progress in debt reduction. Despite the Q1-2023 hiccup, target levels for accelerated shareholder returns will likely be reached in the next 12 months. Preferred shares, especially series 1, offer a very low-risk income play.

Cenovus (CVE) expects to continue progressing on debt reduction throughout 2023.

Cenovus (CVE) cites that about 20,000-Boe/d Rainbow Lake operations are expected to restart production in 7-10 days.

Canada's Cenovus Energy Inc said on Monday it had restarted about 62,000 barrels of oil equivalent per day (boepd) of production after shutdowns in May due to wildfires in Alberta.

Cenovus (CVE) reported earnings 30 days ago. What's next for the stock?

Canadian oil sands production is expected to reach 3.7 million barrels per day by 2030, S&P Global said on Thursday, raising the analytics firm's 2030 production outlook for the country for the first time in half a decade.