CVE:CC - Cash Flow Gusher: How Cenovus Energy Can Shower You With Dividends
2024-05-12 00:39:42 ET
Summary
- Canadian oil sands are looking to boost output by 15% through 2030, providing a valuable source of supply growth in a world without U.S. shale growth.
- Cenovus Energy, a Canadian oil company, has strong growth prospects and a future-proof business model with diversified operations in upstream production and refining.
- Cenovus generated $3.2 billion in operating income in Q1 2024 and plans to return excess free cash flow to shareholders through dividends and buybacks.
All financial numbers in this article are in Canadian dollars unless noted otherwise. Please note that oil and gas prices are always in US dollars.
Introduction
Buy every oil dip you see!
The quote above is from a hedge fund newsletter I read yesterday.
While I always call for prudent financial management, I'm one of the people who have been buying energy equities rather aggressively over the past few years.
Especially over the past three quarters, I have been an avid buyer, as I believe energy is a highly attractive sector in a market with an overall lofty valuation. I explained that in countless articles, including this one ....
Cash Flow Gusher: How Cenovus Energy Can Shower You With Dividends