Bullboard - Stock Discussion Forum Cenovus Energy Inc T.CVE.WT

Primary Symbol: T.CVE Alternate Symbol(s): T.CVE.PR.E | T.CVE.PR.G | CNVEF | CVE.WS | CVE | T.CVE.PR.A | T.CVE.PR.B | T.CVE.PR.C

Energy Oil & Gas Integrated

Cenovus Energy Inc. is a Canada-based integrated energy company. The Company has oil and natural gas production operations in Canada and the Asia Pacific region, and upgrading, refining and marketing operations in Canada and the United States. The Company's segments include Upstream, Downstream, and Corporate and Eliminations. Its Upstream segment includes Oil Sands, Conventional, and Offshore.... see more

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TSX:CVE - Post Discussion

Cenovus Energy Inc > RBC

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Post by retiredcf on Nov 07, 2023 8:41am

RBC

November 7, 2023

Cenovus Energy Inc.
Announces Renewal of Share Buyback Program

TSX: CVE | CAD 25.77 | Outperform | Price Target CAD 32.00

Sentiment: Neutral

Cenovus Energy announced today that the Toronto Stock Exchange (TSX) has approved the renewal of the company’s normal course issuer bid (NCIB).

Key Points

• Under the NCIB renewal, Cenovus can purchase up to 133.2 million of its common shares (10% of its public float outstanding) from November 9, 2023 to November 8, 2024.

• As of October 31, Cenovus has repurchased approximately $1.1 billion (circa 44.3 million shares at a weighted-average price of $24.74 per share) of its common shares under its current NCIB, which is set to expire November 8.

• Please see Are We There Yet? Not Quite for our most recent update on Cenovus following the company’s third-quarter results.

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