CVE pays a dividend yield-to-price of 2.7% if you can wait to buy shares at $34 or below. Its almost three-year chart below shows how the price of their shares correlates with its 17% Return-on-Equity (ROE).CVE data by YCharts
Some of Cenovus' best results from their second quarter 2012 report derive from the fact that oil production climbed 28% to nearly 155,000 barrels-per-day. CVE received approval during that quarter for its Narrows Lake oil sands development, which is anticipated to have a production capacity of around 130,000 barrels-per-day. Yes, earnings-per-share during the second quarter dropped almost 40% (year-over-year) mostly due to lower oil prices during that quarter. Yet its revenue grew by over 5% to a trailing-12-months total of over $17.25 billion. This helped keep the dividend payout ratio to 40%, which should be sustainable for the foreseeable future. Again, I like CVE when it's at or below $34-a-share.