Latest news with #Cenovus
Yahoo
a day ago
- Business
- Yahoo
Cenovus Energy (TSX:CVE) Redeems Series 7 Preferred Shares And Manages Alberta Wildfire Impact
Cenovus Energy recently announced a significant operational update related to wildfires in Alberta and detailed a preferred stock redemption, which are key factors potentially influencing its share price movement. Over the past month, the company's stock rose by 8.78%, coinciding with these updates and the broader energy sector's buoyancy amid rising crude oil prices. The market, buoyed by positive earnings reports and easing trade tensions, also saw gains, with major indices showing their best performance since 2023. While Cenovus's increased dividends and stock buybacks might have added weight, its movement is largely in line with general market trends. You should learn about the 2 weaknesses we've spotted with Cenovus Energy. Rare earth metals are the new gold rush. Find out which 24 stocks are leading the charge. The recent updates from Cenovus Energy regarding wildfires and preferred stock redemption are crucial elements that could shape the company's financial narrative moving forward. Over the past five years, Cenovus's total shareholder return, which includes share price increases and dividends, amounted to 156.83%. This substantial return highlights the company's capacity to deliver value over a longer period, despite underperforming the Canadian Oil and Gas industry in the past year. The short-term rise of 8.78% in the share price aligns with these recent developments, yet it remains below the CA$25.68 analyst price target, suggesting potential for future price appreciation if operational efficiencies and earnings forecasts are on track. The operational updates hint at potential revenue and earnings impacts, with projects like West White Rose completion expected to improve efficiency starting in 2026. Analysts forecast earnings growth and increased production capacity, which could enhance future earnings per share. However, challenges such as potential currency risks and high capital expenditures may influence these projections. As the company continues to manage its debt and navigate project completions, the anticipated efficiency gains and production growth appear positioned to positively impact future revenue and earnings. With the current share price reflecting about 42.3% potential upside to the consensus price target, investor interest might remain focused on these key outcomes. Take a closer look at Cenovus Energy's potential here in our financial health report. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include TSX:CVE. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
Global News
a day ago
- Business
- Global News
Cenovus shuts in oilsands production at Christina Lake operations because of wildfires
Cenovus Energy Inc. says only essential personnel are at its Christina Lake oilsands operations where it has shut production due to the wildfires in northern Alberta. The company says it began the work to shut in production at Christina Lake on May 29. Based on its inspections so far, Cenovus says it is not aware of any damage to its infrastructure and expects a full restart of its Christina Lake operations once it is safe. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy About 238,000 barrels per day of production have been impacted. It says it will provide an update when it's in a position to restart. Thousands of residents have been affected by wildfires in Manitoba, Saskatchewan and Alberta prompted by hot, dry weather that have allowed some fires to grow.
CBC
a day ago
- Business
- CBC
Cenovus shuts in oilsands production at northern Alberta site due to wildfires
Cenovus Energy Inc. says only essential personnel are at its Christina Lake oilsands operations where it has shut production due to the wildfires in northern Alberta. The company says it began the work to shut in production at Christina Lake on May 29. The heavy oil operation is about 150 kilometres southeast of Fort McMurray. A fire nearby has put the roughly 200 residents of the hamlet of Conklin under evacuation alert. As of Monday, the fire — known as the Caribou Lake wildfire — continued to burn out of control and had consumed more than 61,550 hectares of forest. The fire is among more than 50 burning across the province. As of 7 a.m. Monday, 26 are classified as out of control. Based on its inspections so far, Cenovus says it is not aware of any damage to its infrastructure and expects a full restart of its Christina Lake operations once it is safe. About 238,000 barrels per day of production have been impacted. It says it will provide an update when it's in a position to restart. The company said operations will resume as soon as it's safe to do so. Thousands of residents have been affected by wildfires in Manitoba, Saskatchewan and Alberta prompted by hot, dry weather that have allowed some fires to grow.
The Market Online
a day ago
- Business
- The Market Online
Cenovus pulls out staff over risk of Alberta wildfires
Cenovus Energy (TSX:CVE) gave an operational update regarding its Christina Lake oil sands facility in northern Alberta, following ongoing wildfire activity in the region All staff are safe, and preliminary inspections have revealed no damage to infrastructure Cenovus stated that it anticipates a full restart of operations in the near term, pending safety assessments and environmental conditions Cenovus Energy (TSX:CVE) stock last traded at C$18.08 Cenovus Energy (TSX:CVE) gave an operational update regarding its Christina Lake oil sands facility in northern Alberta, following ongoing wildfire activity in the region. The company emphasized that the safety of its personnel and the protection of its infrastructure remain top priorities. In a media update, the integrated energy company confirmed that all staff are safe, and preliminary inspections have revealed no damage to infrastructure. As a precautionary measure, only essential personnel remain on site at Christina Lake, where production was methodically shut in beginning May 29. Approximately 238,000 barrels per day of production have been impacted. Cenovus stated that it anticipates a full restart of operations in the near term, pending safety assessments and environmental conditions. Meanwhile, MEG Energy Corp. (TSX:MEG) has also taken proactive steps to ensure the safety of its workforce. All non-essential personnel have been evacuated from its Christina Lake Regional Project (CLRP), while critical operating staff remain on site to maintain essential functions. The wildfire has disrupted third-party power line infrastructure connecting CLRP to Alberta's electric grid, prompting MEG to safely disconnect from the grid. Despite the outage, MEG's cogeneration capabilities have enabled continued production at the site. However, the power disruption has delayed the startup of MEG's Phase 2B operations, which were poised to resume following a planned turnaround. Phase 2B represents approximately 70,000 barrels per day of production. MEG is working closely with the utility provider and other stakeholders to restore grid connectivity and return to full operational capacity. Both companies continue to monitor the evolving wildfire conditions and are coordinating with emergency services and provincial authorities to ensure a safe and timely return to normal operations. Cenovus Energy Inc. 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. Cenovus Energy (TSX:CVE) stock last traded at C$18.08 and though it had risen 13.04 per cent in May 2025, it has lost 32.62 per cent since this time last year. Join the discussion: Find out what everybody's saying about this stock on the Cenovus Energy Bullboard, and check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
Yahoo
2 days ago
- Business
- Yahoo
MT Newswires Canada Stocks To Watch: Cenovus; Digi Power; First Quantum; Stantec
Cenovus Energy Inc. (TSX and NYSE: CVE) provided an update on its Oil Sands operations following ong Sign in to access your portfolio
