Last C$21.57 CAD
Change Today -0.19 / -0.87%
Volume 4.1M
CVE On Other Exchanges
Symbol
Exchange
Frankfurt
As of 4:36 PM 02/27/15 All times are local (Market data is delayed by at least 15 minutes).

cenovus energy inc (CVE) Snapshot

Open
C$21.93
Previous Close
C$21.76
Day High
C$21.95
Day Low
C$21.56
52 Week High
07/2/14 - C$34.80
52 Week Low
12/16/14 - C$18.72
Market Cap
16.3B
Average Volume 10 Days
6.1M
EPS TTM
C$0.73
Shares Outstanding
757.0M
EX-Date
03/11/15
P/E TM
29.8x
Dividend
C$1.06
Dividend Yield
4.94%
Current Stock Chart for CENOVUS ENERGY INC (CVE)

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cenovus energy inc (CVE) Details

Cenovus Energy Inc., an integrated oil company, develops, produces, and markets crude oil, natural gas liquids (NGLs), and natural gas in Canada with refining operations in the United States. The company’s Oil Sands segment engages in the development and production of bitumen assets at Foster Creek, Christina Lake, Narrows Lake, and the Athabasca natural gas assets, as well as projects in the early stages of development, such as Grand Rapids and Telephone Lake. Its Conventional segment develops and produces conventional crude oil, NGLs, and natural gas in Alberta and Saskatchewan, including the heavy oil assets at Pelican Lake. This segment also includes the carbon dioxide enhanced oil recovery project at Weyburn. The company’s Refining and Marketing segment transports, sells, and refines crude oil into petroleum and chemical products. Cenovus Energy Inc. is headquartered in Calgary, Canada.

3,545 Employees
Last Reported Date: 02/13/15

cenovus energy inc (CVE) Top Compensated Officers

Chief Executive Officer, President and Non-In...
Total Annual Compensation: C$1.3M
Chief Financial Officer and Executive Vice-Pr...
Total Annual Compensation: C$582.5K
Chief Operating Officer and Executive Vice-Pr...
Total Annual Compensation: C$752.5K
Executive Vice-President of Oil Sands
Total Annual Compensation: C$637.5K
Compensation as of Fiscal Year 2013.

cenovus energy inc (CVE) Key Developments

Cenovus Energy Inc. Reports Consolidated Earnings and Production Results for the Fourth Quarter and Full Year Ended December 31, 2014; Declares Dividend for the First Quarter of 2015, Payable on March 31, 2015

Cenovus Energy Inc. reported consolidated earnings and production results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported operating loss of CAD 590 million or CAD 0.78 per diluted share against operating earnings of CAD 212 million or CAD 0.28 per diluted share a year ago. Net loss was CAD 472 million or CAD 0.62 per diluted share against CAD 58 million or CAD 0.08 per diluted share a year ago. Cash flow was CAD 401 million or CAD 0.53 per diluted share against CAD 835 million or CAD 1.10 per diluted share a year ago. Capital investment was CAD 786 million against CAD 898 million a year ago. Operating earnings, before income tax were CAD 484 million against CAD 482 million a year ago. Operating loss before income tax was CAD 749 million against operating earnings before income tax of CAD 304 million a year ago. Loss before income tax was CAD 520 million compared of CAD 22 million a year ago. For the full year, the company reported operating earnings of CAD 633 million or CAD 0.84 per diluted share against CAD 1,171 million or CAD 1.55 per diluted share a year ago. Net earnings were CAD 744 million or CAD 0.98 per diluted share against CAD 662 million or CAD 0.87 per diluted share a year ago. Cash flow was CAD 3,479 million or CAD 4.59 per diluted share against CAD 3,609 million or CAD 4.76 per diluted share a year ago. Capital investment was CAD 3,051 million against CAD 3,262 million a year ago. Cash flow down 4% from the previous year, primarily due to an 82% decrease in operating cash flow from refining. Operating earnings before income tax was CAD 901 million compared to CAD 1,708 million a year ago. Earnings before income tax was CAD 520 million compared of CAD 22 million a year ago. The company's operating and net earnings were negatively affected in 2014 by a CAD 497 million non-cash goodwill impairment associated with Pelican Lake. The impairment was caused by a decline in forecast crude oil prices as well as a slowing of the development plan at Pelican Lake. For the quarter, the company’s total oil production was 216,177 Mbbls/d against 188,743 Mbbls/d a year ago. Natural gas production was 479 MMcf/d against 514 MMcf/d a year ago. For the full year, the company’s total oil production was 203,493 Mbbls/d against 179,275 Mbbls/d a year ago. Natural gas production was 488 MMcf/d against 529 MMcf/d a year ago. The company's of directors declared a first quarter dividend of CAD 0.2662 per share, payable on March 31, 2015 to common shareholders of record as of March 13, 2015.

Cenovus Announces Plans to Cut 15% of Workforce in 2015

Cenovus announced that it plans to cut 15% of its workforce in 2015 and freeze all remaining employee salaries as the oil company posted a quarterly loss of $472 million, the amount more than seven times as big as last year's loss. The company said its sales for the past three months of its fiscal year came in at $4.34 billion. That's down from $4.83 billion in the same quarter a year ago. While the company pumped out and sold more oil in the period, it also made a lot less money for every barrel it produced. For 2014 as a whole, the company produced an average of 203,000 barrels a day, up 14% from 2013. But the ramifications of an oil price that's dropped from $105 in the summer to below $50 are still being felt. That plan includes an already announced 15% staff reduction, the bulk of which will come from its contract workforce.

Cenovus Energy Mulls Acquisition

Cenovus Energy Inc. (TSX:CVE) is seeking acquisitions. Bob Pease, Executive Vice President of Markets, Products & Transportation division of Cenovus Energy, said in Tesoro Logistics LP earnings call, “So we do look for opportunities to both acquire and place surplus capacity whenever it exists.”

 

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Industry Analysis

CVE

Industry Average

Valuation CVE Industry Range
Price/Earnings 20.4x
Price/Sales 0.8x
Price/Book 1.5x
Price/Cash Flow 5.5x
TEV/Sales 0.4x
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