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Laser breakthrough could send stock soaring 2,467% (Ad)
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66,000% upside on tiny biotech? (Ad)
How You Can Reverse Engineer Michael Burry's Latest Buy
This Little Known Automaker May Save Your Life and Your Portfolio
S&P 500   4,274.51
DOW   33,550.27
QQQ   355.04
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S&P 500   4,274.51
DOW   33,550.27
QQQ   355.04
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Laser breakthrough could send stock soaring 2,467% (Ad)
Pain for Gain: 2 Stocks Whose CEOs Left Without a Clue
3 Household Names With RSIs That Scream Oversold
Laser breakthrough could send stock soaring 2,467% (Ad)
The Odds Are High Costco Will Declare a Special Dividend Soon 
Stock market today: Global shares mostly fall over China worries
66,000% upside on tiny biotech? (Ad)
How You Can Reverse Engineer Michael Burry's Latest Buy
This Little Known Automaker May Save Your Life and Your Portfolio

Cenovus Energy (CVE) Stock Forecast, Price & News

$20.98
+0.63 (+3.10%)
(As of 09/27/2023 ET)
Compare
Today's Range
$20.62
$20.99
50-Day Range
$17.13
$20.98
52-Week Range
$14.80
$22.18
Volume
8.88 million shs
Average Volume
7.32 million shs
Market Capitalization
$39.79 billion
P/E Ratio
14.18
Dividend Yield
1.95%
Price Target
$15.28

Cenovus Energy MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.75 Rating Score
Upside/​Downside
27.2% Downside
$15.28 Price Target
Short Interest
Bearish
3.53% of Float Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-8.62
Upright™ Environmental Score
News Sentiment
0.45mentions of Cenovus Energy in the last 14 days
Based on 2 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
37.18%
From $1.56 to $2.14 Per Share

Overall MarketRank

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

1.69 out of 5 stars

Oils/Energy Sector

213th out of 243 stocks

Crude Petroleum & Natural Gas Industry

73rd out of 78 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

CVE Price History

CVE Stock News Headlines

This is the #1 Stock to Buy for the AI Tidal Wave
Marc Chaikin warned people about NVDA before its 2023 bull run - now he’s naming his next pick or the AI tidal wave. Learn more here.
Closing Bell: Cenovus Energy Inc down on Wednesday (CVE-PR-B)
Cenovus Energy: Cash Drain Ending
TSX Ends Weak As Technology, Energy Stocks Post Sharp Losses
This is the #1 Stock to Buy for the AI Tidal Wave
Marc Chaikin warned people about NVDA before its 2023 bull run - now he’s naming his next pick or the AI tidal wave. Learn more here.
Chevron Is Better Than Cenovus
Closing Bell: Cenovus Energy Inc down on Monday (CVE-PR-C)
Closing Bell: Cenovus Energy Inc up on Tuesday (CVE-PR-A)
Closing Bell: Cenovus Energy Inc up on Tuesday (CVE-PR-B)
Cenovus Energy Q2 2023 Earnings Preview
See More Headlines
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CVE Company Calendar

Ex-Dividend for 6/30 Dividend
6/14/2023
Dividend Payable
6/30/2023
Last Earnings
7/27/2023
Ex-Dividend for 9/29 Dividend
9/14/2023
Today
9/28/2023
Dividend Payable
9/29/2023
Next Earnings (Estimated)
11/01/2023
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
$15.28
High Stock Price Forecast
$37.00
Low Stock Price Forecast
$6.00
Forecasted Upside/Downside
-27.2%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.75
Research Coverage
4 Analysts

Profitability

Net Income
$4.96 billion
Pretax Margin
8.73%

Debt

Sales & Book Value

Annual Sales
$51.46 billion
Cash Flow
$4.65 per share
Book Value
$10.91 per share

Miscellaneous

Outstanding Shares
1,896,440,000
Free Float
N/A
Market Cap
$39.79 billion
Optionable
Optionable
Beta
2.24

Social Links

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Key Executives

  • Mr. Alexander J. Pourbaix (Age 57)
    Exec. Chair
    Comp: $2.4M
  • Mr. Jonathan M. McKenzie CA (Age 55)
    Pres, CEO & Non-Independent Director
    Comp: $1.11M
  • Mr. Keith A. Chiasson
    Exec. VP & COO
  • Mr. Joseph Drew Zieglgansberger
    Exec. VP & Chief Commercial Officer
  • Mr. Jeffrey Ryan Hart
    Exec. Vice-Pres of Corp. & Operations Services
  • Mr. Kam S. Sandhar CA
    Exec. VP of Strategy & Corp. Devel. and CFO
  • Ms. Sherry A. Wendt
    Director of Investor Relations
  • Mr. Gary Frederick Molnar
    Sr. VP of Legal, Gen. Counsel & Corp. Sec.
  • Ms. Susan M. Anderson
    Sr. Vice-Pres of People Services
  • Ms. Rhona M. Delfrari
    Chief Sustainability Officer & Exec. VP of Stakeholder Engagement













CVE Stock - Frequently Asked Questions

Should I buy or sell Cenovus Energy stock right now?

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

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

4 equities research analysts have issued twelve-month price objectives for Cenovus Energy's shares. Their CVE share price forecasts range from $6.00 to $37.00. On average, they predict the company's stock price to reach $15.28 in the next twelve months. This suggests that the stock has a possible downside of 27.2%.
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 the year. Since then, CVE stock has increased by 8.1% and is now trading at $20.98.
View the best growth stocks for 2023 here
.

Are investors shorting Cenovus Energy?

Cenovus Energy saw a increase in short interest in September. As of September 15th, there was short interest totaling 47,310,000 shares, an increase of 23.6% from the August 31st total of 38,280,000 shares. Based on an average daily volume of 6,900,000 shares, the short-interest ratio is presently 6.9 days. Approximately 3.5% of the company's stock are short sold.
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 Wednesday, November 1st 2023.
View our CVE earnings forecast
.

How were Cenovus Energy's earnings last quarter?

Cenovus Energy Inc. (NYSE:CVE) released its quarterly earnings results on Thursday, July, 27th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. The oil and gas company earned $9.11 billion during the quarter, compared to analysts' expectations of $9.69 billion. Cenovus Energy had a trailing twelve-month return on equity of 14.29% and a net margin of 6.98%.

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

Cenovus Energy declared a quarterly dividend on Thursday, July 27th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.106 per share on Friday, September 29th. This represents a $0.42 annualized dividend and a yield of 2.02%. The ex-dividend date is Thursday, September 14th. This is a boost from the stock's previous quarterly dividend of $0.10.
Read our dividend analysis for CVE
.

What ETFs hold Cenovus Energy's stock?

ETFs with the largest weight of Cenovus Energy (NYSE:CVE) stock in their portfolio include iShares North American Natural Resources ETF (IGE).iShares MSCI Intl Quality Factor ETF (IQLT).

Is Cenovus Energy a good dividend stock?

Cenovus Energy (NYSE:CVE) pays an annual dividend of $0.41 per share and currently has a dividend yield of 2.05%. The dividend payout ratio is 27.70%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, CVE will have a dividend payout ratio of 19.16% 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 number of institutional and retail investors. Top institutional shareholders include Capital World Investors (7.77%), TD Asset Management Inc (1.78%), Boston Partners (1.43%), Bank of Nova Scotia (0.82%), Egerton Capital UK LLP (0.81%) and Soroban Capital Partners LP (0.74%).

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 $20.98.

How much money does Cenovus Energy make?

Cenovus Energy (NYSE:CVE) has a market capitalization of $39.79 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 $1.48 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 9/28/2023 by MarketBeat.com Staff

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