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NYSE:CVE

Cenovus Energy (CVE) Stock Forecast, Price & News

$17.39
+0.07 (+0.40%)
(As of 02:58 PM ET)
Compare
Today's Range
$17.22
$17.72
50-Day Range
$15.15
$19.02
52-Week Range
$14.44
$23.99
Volume
5.26 million shs
Average Volume
7.58 million shs
Market Capitalization
$33.14 billion
P/E Ratio
8.36
Dividend Yield
1.78%
Price Target
$31.88

Cenovus Energy MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.75 Rating Score
Upside/​Downside
83.1% Upside
$31.88 Price Target
Short Interest
Healthy
3.15% of Float Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-8.62
Upright™ Environmental Score
News Sentiment
1.14mentions of Cenovus Energy in the last 14 days
Based on 4 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
21.99%
From $1.91 to $2.33 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.50 out of 5 stars

Oils/Energy Sector

85th out of 249 stocks

Crude Petroleum & Natural Gas Industry

43rd out of 80 stocks


CVE stock logo

About Cenovus Energy (NYSE:CVE) Stock

Cenovus Energy Inc. is a Canadian-based large-cap integrated energy company. The company was formed in 2009 with the split of Encana and is, or was, the oil-focused branch of the business. Including its predecessor, Cenovus Energy Inc can trace its roots back to the 1880s and the first Canadian transcontinental railroad. The founders of the railroad received mineral-rich land grants as part of their reward and those land rights were levered into the energy companies we know today.

Since the split, Cenovus Energy Inc. has made some major investments by buying out partner stakes in joint ventures and acquiring independent companies as well. Two major acquisitions, one in 2017 and the other in 2021, grew Cenovus Energy Inc. to be Canada’s 3rd largest producer of crude and natural gas and its 2nd largest refiner. Cenovus Energy Inc. is located in Calgary, Alberta.

Today, Cenovus Energy explores, produces, and markets crude oil and natural gas in North America and Asia. The company operates through 4 primary segments that include Oil Sands, Conventional, Offshore, Upgrading & Refining, and Value Chain. The oil sands segment is the core of the business and includes 3 primary projects that are Foster Creek, Christina Lake and Sunrise in northern Alberta, and Saskatchewan.

The Conventional segment operates in western Canada and holds deposits of natural gas and natural gas liquids. These projects are located in Elmworth-Wapiti, Kaybob-Edson, Clearwater, and Rainbow Lake. Holdings include upstream production as well as mid and downstream pipelines, storage, and delivery assets.

The offshore segment operates primarily in Labrador, Newfoundland, and the Asia-Pacific region specifically Indonesia and offshore China. This segment is engaged primarily in the exploration, development, and production of natural gas and crude oil fields.

The Upgrading & Refining segment has operations in the U.S. and Canada including 3 wholly-owned and 2 partially-owned refineries, midstream pipelines, and storage facilities. Its addition to the portfolio not only expanded revenue and earnings but helps reduce exposure to oil price volatility.

The Value Chain segment of the business has operations across all aspects of the value chain to help develop, transport, store, market and deliver natural gas, natural gas liquids and crude oil products in Canada and the US. The company’s network is not only vertically integrated but physically as well which is another factor that helps reduce exposure to oil market volatility. Among the many products offered are asphalt, natural gas, petcoke, ethanol, sulfur and transportation fuels. Petcoke, ironically, is a stable fuel derived from heavy oil that is used for electrical power generation.

The company is investing heavily in the future to include carbon storage. The company has committed to reducing its absolute GHG emission by 35% by 2035 and to achieving Net-0 carbon by 2050. The plan is to invest in technology to increase efficiency and electrify large portion of operations

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CVE Stock News Headlines

Graphite versus Lithium - What Investors Should Know
Over 18 million EVs will be cruising U.S roads by 2030. And every one million EVs manufactured will require 82,000 tons of the metal graphite for their batteries. That's a total of 1,476,000 tons of graphite! Graphite is actually the largest component of EV batteries - NOT lithium. Experts warn of a massive graphite shortfall, especially since North America currently has no operating graphite mines.
Cenovus Energy (NYSE: CVE)
Graphite versus Lithium - What Investors Should Know
Over 18 million EVs will be cruising U.S roads by 2030. And every one million EVs manufactured will require 82,000 tons of the metal graphite for their batteries. That's a total of 1,476,000 tons of graphite! Graphite is actually the largest component of EV batteries - NOT lithium. Experts warn of a massive graphite shortfall, especially since North America currently has no operating graphite mines.
Cenovus Energy Raises Quarterly Dividend 33%
See More Headlines

CVE Price History

CVE Company Calendar

Last Earnings
11/02/2021
Ex-Dividend for 3/31 Dividend
3/14/2023
Dividend Payable
3/31/2023
Today
6/09/2023
Ex-Dividend for 6/30 Dividend
6/14/2023
Dividend Payable
6/30/2023
Next Earnings (Estimated)
7/27/2023
Fiscal Year End
12/31/2023

Industry, Sector and Symbol

Industry
Crude petroleum & natural gas
Sub-Industry
N/A
Employees
5,998
Year Founded
2009

Price Target and Rating

Average Stock Price Forecast
$31.88
High Stock Price Forecast
$39.00
Low Stock Price Forecast
$22.00
Forecasted Upside/Downside
+84.1%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.75
Research Coverage
4 Analysts

Profitability

Net Income
$4.96 billion
Pretax Margin
11.38%

Debt

Sales & Book Value

Annual Sales
$51.46 billion
Cash Flow
$4.45 per share
Book Value
$10.91 per share

Miscellaneous

Outstanding Shares
1,905,780,000
Free Float
N/A
Market Cap
$33.00 billion
Optionable
Optionable
Beta
2.24

Social Links


Key Executives

  • Jonathan M. McKenzie
    President, Chief Executive Officer & Director
  • Jeffrey R. Hart
    Chief Financial Officer & Executive Vice President
  • Drew Zieglgansberger
    Executive VP-Natural Gas & Technical Services
  • Kam S. Sandhar
    Executive VP-Strategy & Corporate Development
  • Keith Chiasson
    Executive Vice President-Downstream













CVE Stock - Frequently Asked Questions

Should I buy or sell Cenovus Energy stock right now?

4 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Cenovus Energy in the last twelve months. There are currently 1 hold rating and 3 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" CVE shares.
View CVE analyst ratings
or view top-rated stocks.

What is Cenovus Energy's stock price forecast for 2023?

4 Wall Street research analysts have issued 12 month target prices for Cenovus Energy's shares. Their CVE share price forecasts range from $22.00 to $39.00. On average, they predict the company's stock price to reach $31.88 in the next twelve months. This suggests a possible upside of 83.1% from the stock's current price.
View analysts price targets for CVE
or view top-rated stocks among Wall Street analysts.

How have CVE shares performed in 2023?

Cenovus Energy's stock was trading at $19.41 at the beginning of 2023. Since then, CVE stock has decreased by 10.3% and is now trading at $17.41.
View the best growth stocks for 2023 here
.

Are investors shorting Cenovus Energy?

Cenovus Energy saw a drop in short interest during the month of April. As of April 30th, there was short interest totaling 44,070,000 shares, a drop of 10.8% from the April 15th total of 49,390,000 shares. Based on an average trading volume of 8,040,000 shares, the days-to-cover ratio is currently 5.5 days. Currently, 3.2% of the company's shares are sold short.
View Cenovus Energy's Short Interest
.

When is Cenovus Energy's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, July 27th 2023.
View our CVE earnings forecast
.

How were Cenovus Energy's earnings last quarter?

Cenovus Energy Inc. (NYSE:CVE) posted its quarterly earnings results on Tuesday, November, 2nd. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by $0.09. The oil and gas company had revenue of $10.67 billion for the quarter, compared to analysts' expectations of $11.74 billion. Cenovus Energy had a trailing twelve-month return on equity of 20.38% and a net margin of 8.75%. During the same quarter last year, the company earned ($0.28) earnings per share.

How often does Cenovus Energy pay dividends? What is the dividend yield for Cenovus Energy?

Cenovus Energy declared a quarterly dividend on Wednesday, April 26th. Stockholders of record on Thursday, June 15th will be given a dividend of $0.104 per share on Friday, June 30th. This represents a $0.42 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Wednesday, June 14th. This is a boost from the stock's previous quarterly dividend of $0.08.
Read our dividend analysis for CVE
.

What ETFs hold Cenovus Energy's stock?
Is Cenovus Energy a good dividend stock?

Cenovus Energy (NYSE:CVE) pays an annual dividend of $0.31 per share and currently has a dividend yield of 1.75%. The company does not yet have a strong track record of dividend growth. The dividend payout ratio is 14.90%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, CVE will have a dividend payout ratio of 13.30% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for CVE.

What is Alex Pourbaix's approval rating as Cenovus Energy's CEO?

72 employees have rated Cenovus Energy Chief Executive Officer Alex Pourbaix on Glassdoor.com. Alex Pourbaix has an approval rating of 80% among the company's employees.

What other stocks do shareholders of Cenovus Energy own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Cenovus Energy investors own include General Electric (GE), Bank of America (BAC), Suncor Energy (SU), Intel (INTC), Micron Technology (MU), QUALCOMM (QCOM), AT&T (T), Enbridge (ENB), Cisco Systems (CSCO) and Enterprise Products Partners (EPD).

What is Cenovus Energy's stock symbol?

Cenovus Energy trades on the New York Stock Exchange (NYSE) under the ticker symbol "CVE."

Who are Cenovus Energy's major shareholders?

Cenovus Energy's stock is owned by a variety of retail and institutional investors. Top institutional investors include Wellington Management Group LLP (2.57%), FIL Ltd (1.95%), Soroban Capital Partners LP (1.79%), Egerton Capital UK LLP (1.32%), Boston Partners (1.26%) and Mackenzie Financial Corp (0.72%).

How do I buy shares of Cenovus Energy?

Shares of CVE stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

What is Cenovus Energy's stock price today?

One share of CVE stock can currently be purchased for approximately $17.41.

How much money does Cenovus Energy make?

Cenovus Energy (NYSE:CVE) has a market capitalization of $33.18 billion and generates $51.46 billion in revenue each year. The oil and gas company earns $4.96 billion in net income (profit) each year or $2.08 on an earnings per share basis.

How many employees does Cenovus Energy have?

The company employs 5,998 workers across the globe.

How can I contact Cenovus Energy?

Cenovus Energy's mailing address is 4100 225 6 AVENUE SW, CALGARY A0, T2P 1N2. The official website for the company is www.cenovus.com. The oil and gas company can be reached via phone at (403) 766-2000, via email at investor.relations@cenovus.com, or via fax at 403-766-7600.

This page (NYSE:CVE) was last updated on 6/9/2023 by MarketBeat.com Staff

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