CENOVUS ENERGY $33.41 - Toronto symbol CVE

CENOVUS ENERGY $33.41 (Toronto symbol CVE; Shares outstanding: 756.9 million; Market cap: $25.3 billion; TSINetwork Rating: Average; Dividend yield: 3.2%; www.cenovus.com) gets 40% of its output from its Alberta oil sands projects. Conventional oil and gas supplies 60%.

U.S.-based ConocoPhillips (New York symbol COP) owns 50% of Cenovus’s main Foster Creek and Christina Lake oil sands projects.

In the quarter ended June 30, 2014, cash flow per share jumped 36.5%, to $1.57 from $1.15 a year ago.

Total production rose 17.8%, to 201,688 barrels a day from 171,127 barrels. The gain was due to a 33.1% jump in oil sands output, to 124,827 barrels a day from 93,797.

Cenovus is a buy.

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Blue chip stocks are big, well-established, dividend-paying corporations with strong business prospects. These are companies that also have sound management that should be able to make the right moves to keep competing successfully in a changing marketplace.

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Dividend stocks make cash payouts that serve as a way for companies to share the wealth they’ve accumulated. These payouts are drawn from earnings and cash flow and paid to the shareholders of the company. Typically, these dividends are paid quarterly, although they may be paid annually or even monthly as well.

Value Stocks

What are value stocks?

One of the sweetest and most profitable pleasures of successful investing is to buy high-quality “value stocks” (or stocks that are reasonably priced, if not cheap, in relation to its sales, earnings or assets), then hold on to them as mainstream investors recognize the value and push up the share price.

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