Cenovus Energy Inc

Cenovus Energy Inc

CVE

Market Cap$27.97B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Cenovus Energy IncCenovus Energy Inc10.73.76%13%0.50.3

Earnings Call Q3 2024

October 31, 2024 - AI Summary

**Strong Operational Performance**: Cenovus Energy reported Q3 production of approximately 771,000 BOE/day with an operating margin of CAD 2.4 billion. The oil sands segment, particularly Christina Lake, exceeded production forecasts by 15,000–20,000 barrels/day, achieving an operational margin of CAD 2.5 billion. This reflects effective execution and detailed planning, positively impacting future operational momentum.
**Capital Investment and Growth Outlook**: The company reaffirmed its capital spending guidance for 2024 at CAD 4.5 to CAD 5 billion, expecting similar levels for 2025. Growth projects, especially in the oil sands and conventional segments, are on track to enhance production with significant expected contributions from the Narrows Lake project (20,000–30,000 barrels/day by mid-2025) and the West White Rose project, anticipated to generate over CAD 1 billion/year in cash flow starting in 2026.
**Dividends and Shareholder Returns**: Cenovus plans to return 100% of its excess free funds flow to shareholders over time. In Q3, the company returned approximately CAD 1.1 billion through its base dividend and share buyback program. Following achieving a net debt target of CAD 4 billion, excess cash flow and working capital releases allow for increased shareholder returns, exceeding 100% of excess free funds flow.

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$16.11

Current Fair Value

5.2% upside

Undervalued by 5.2% based on the discounted cash flow analysis.

Share Statistics

Market cap$27.97 Billion
Enterprise Value$34.98 Billion
Dividend Yield$0.5 (3.75922509225092%)
Earnings per Share$2.12
Beta2.62
Outstanding Shares1,848,035,000

Return

Return on Equity-
Return on Assets-
Return on Invested Capital-

Valuation & Multiples

P/E Ratio10.72
PEG-19.13
Price to Sales0.51
Price to Book Ratio0.96
Enterprise Value to Revenue0.63
Enterprise Value to EBIT6.5
Enterprise Value to Net Income9
Total Debt to Enterprise0.29
Debt to Equity0.34

Revenue Sources

No data

Insider Trades

ESG Score

No data

About Cenovus Energy Inc

2,413 employees
CEO: Alexander Pourbaix

Cenovus Energy Inc. is a Canadian integrated oil and natural gas company. It is committed to maximizing value by sustainably developing its assets in a safe, innovative and cost-efficient manner, integrating environmental, social and gov...