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Cenovus Energy Inc T.CVE

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

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. Its Downstream segment consists of Canadian Manufacturing, and United States Manufacturing. The Company's upstream operations include oil sands projects in northern Alberta, thermal and conventional crude oil, natural gas and natural gas liquids (NGLs) projects across Western Canada, crude oil production offshore Newfoundland and Labrador and natural gas and NGLs production offshore China and Indonesia. The Company's downstream operations include upgrading and refining operations in Canada and the United States, and commercial fuel operations across Canada.


TSX:CVE - Post by User

Cenovus Energy Inc > July 20 RBC "Quick Look" - CVE PreQ2
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Comment by JohnSPon Jul 20, 2022 9:40pm
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Post# 34839026

RE:RE:July 20 RBC "Quick Look" - CVE PreQ2

RE:RE:July 20 RBC "Quick Look" - CVE PreQ2NET DEBT
End Q1 = CAD8.4 bln
End Q2 = ~CAD6.4 hopefully
End Q3 = ~CAD4.0 if commodity prices stay elevated which is CVE's stated floor and they stop net debt reduction.

BASE DIVIDEND
They just tripled it but still low, and CVE says "with capacity to grow at USD45 WTI" so we may see another small boost.

VARIABLE DIVIDEND
CVE announced that "excess free funds flow" to share buybacks while share price is below "mid-cycle pricing", they stopped at end Apr so assume they hit that share price.
Given no buybacks for all May and H1 June I'd say could be good Var Div annouced at Q2 (or surprise earlier to hurt shorts), at least same as Base Div.

Just my 2 cents.
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