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Cenovus Energy
(TSX:CVE)
Cenovus Energy (CVE) vs. iShares MSCI Canada ETF (EWC)
Cenovus Energy Business Overview & Revenue Model
Cenovus Energy Earnings Call Summary
Cenovus Energy Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 50.56B | 54.28B | 52.20B | 66.90B | 46.36B | 13.54B |
| Gross Profit | 6.25B | 5.63B | 6.16B | 11.36B | 5.74B | -1.43B |
| EBITDA | 9.25B | 9.56B | 10.23B | 13.90B | 6.66B | -238.00M |
| Net Income | 3.14B | 3.14B | 4.11B | 6.45B | 587.00M | -2.38B |
Balance Sheet | ||||||
| Total Assets | 53.57B | 56.54B | 53.91B | 55.87B | 54.10B | 32.77B |
| Cash, Cash Equivalents and Short-Term Investments | 1.90B | 3.09B | 2.23B | 4.52B | 2.87B | 378.00M |
| Total Debt | 10.03B | 10.63B | 9.95B | 11.64B | 15.42B | 9.32B |
| Total Liabilities | 25.18B | 26.77B | 25.20B | 28.28B | 30.50B | 16.06B |
| Stockholders Equity | 28.37B | 29.75B | 28.70B | 27.58B | 23.60B | 16.71B |
Cash Flow | ||||||
| Free Cash Flow | 2.82B | 4.22B | 3.09B | 7.64B | 3.36B | -586.00M |
| Operating Cash Flow | 7.85B | 9.23B | 7.39B | 11.40B | 5.92B | 273.00M |
| Investing Cash Flow | -5.55B | -5.13B | -5.29B | -2.31B | -942.00M | -863.00M |
| Financing Cash Flow | -3.63B | -3.50B | -4.31B | -7.68B | -2.51B | 837.00M |
Cenovus Energy Technical Analysis
Cenovus Energy Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | C$73.22B | 14.25 | 11.41% | 3.79% | -3.08% | -31.48% | |
73 Outperform | $46.62B | 14.26 | 10.65% | 3.12% | -9.17% | -12.97% | |
73 Outperform | C$24.83B | 18.36 | 8.69% | 4.67% | 8.97% | -21.15% | |
72 Outperform | $62.46B | 16.07 | 16.52% | 2.27% | -6.18% | -14.06% | |
70 Outperform | $31.35B | 19.23 | 10.22% | 5.11% | 2.81% | -14.92% | |
70 Outperform | C$77.18B | 22.73 | 12.96% | 4.51% | -3.98% | -33.45% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% |
Cenovus Energy Corporate Events
Cenovus Energy Inc. has successfully closed a $2.6 billion offering of senior notes in Canada and the United States, which includes various unsecured notes with maturities ranging from 2031 to 2036. The proceeds from this offering will be used to refinance existing notes and for general corporate purposes, enhancing the company’s financial flexibility and potentially strengthening its market position.
Cenovus Energy Inc. has announced a $2.6 billion offering of senior unsecured notes, divided into Canadian and U.S. dollar denominations. The proceeds from this offering will be used to redeem existing senior notes and to fund general corporate purposes, potentially strengthening the company’s financial position and operational flexibility.
Cenovus Energy has completed its acquisition of MEG Energy Corp., enhancing its portfolio with high-quality, low-cost oil sands assets. This strategic move is expected to add 110,000 barrels per day to Cenovus’s production capacity and generate significant value through identified synergies, positioning the company for both immediate and long-term growth.
Cenovus Energy reported strong financial and operational results for the third quarter of 2025, with significant cash flow and record production levels. The company achieved record upstream production and downstream crude throughput, indicating robust operational performance. Key projects such as the Foster Creek optimization and West White Rose are nearing completion, which is expected to enhance production capabilities. Additionally, Cenovus completed the sale of its interest in WRB Refining LP and announced an acquisition agreement with MEG Energy Corp., signaling strategic growth initiatives.
Cenovus Energy has amended its agreement to acquire MEG Energy, offering MEG shareholders the option to receive cash or Cenovus shares, with a total value of approximately $30 per MEG share. Additionally, Cenovus announced the sale of certain assets to Strathcona Resources for up to $150 million, which includes the Vawn thermal heavy oil asset and undeveloped lands, expected to close in the fourth quarter of 2025. These strategic moves are anticipated to enhance Cenovus’s market position and operational efficiency.
Cenovus Energy has postponed the special meeting for MEG Energy shareholders to vote on its proposed acquisition of MEG to October 30, 2025. The decision comes as 63% of MEG shares are currently in favor of the transaction, which requires a 66⅔% approval. The acquisition offers MEG shareholders a choice between cash or Cenovus shares, with the deal representing a 44% premium over MEG’s previous share price. This move is seen as a strategic effort by Cenovus to expand its operations and leverage synergies with MEG, potentially impacting stakeholders through increased value and market positioning.
Cenovus Energy has acquired an additional 3,276,460 common shares of MEG Energy Corp., bringing its total ownership to 25 million shares, or 9.8% of MEG’s outstanding shares. This acquisition supports a previously announced transaction with MEG, and Cenovus plans to vote its shares in favor of this transaction, indicating a strategic move to strengthen its position in the energy market.
Cenovus Energy has acquired 8.5% of MEG Energy’s common shares, totaling 21,723,540 shares, as part of its previously announced transaction with MEG. This acquisition allows Cenovus to potentially influence MEG’s future decisions and reflects its strategic move to strengthen its position in the energy sector. The company may adjust its ownership based on market conditions, indicating a flexible approach to its investment strategy.
Cenovus Energy has amended its agreement to acquire MEG Energy, increasing the offer to a mix of cash and shares, reflecting shareholder preferences for greater share consideration. This strategic move is expected to deliver superior value to MEG shareholders, with key regulatory approvals already secured. Additionally, Cenovus reported record production and throughput in its third-quarter results, highlighting strong operational performance and the successful sale of its interest in WRB Refining LP, which has bolstered its financial position.
Cenovus Energy has released a presentation detailing the advantages of its transaction with MEG Energy, which has been unanimously approved by MEG’s board. The transaction offers MEG shareholders a premium valuation with cash and Cenovus shares, providing certainty and the opportunity to benefit from Cenovus’s scale, experience, and diversified revenue streams. In contrast, Strathcona Resources’ offer is considered inferior due to its reliance on illiquid and overvalued shares, which may not align with MEG shareholders’ interests. This transaction is expected to enhance Cenovus’s industry positioning and provide significant value to stakeholders.
Cenovus Energy has announced the sale of its 50% stake in WRB Refining LP to Phillips 66 for approximately US$1.4 billion. This strategic move will allow Cenovus to concentrate on assets it fully controls, enhancing its downstream operations’ focus and integration with its upstream heavy oil business. The proceeds from the sale will be used to reduce net debt and increase shareholder returns through share repurchases, reflecting a commitment to financial stability and rewarding investors.