Cenovus Energy (CVE) Stock Forecast, Price & News

4 Wall Street 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 analysts is that investors should "moderate buy" CVE shares.
View CVE analyst ratings or view top-rated stocks.

4 Wall Street research analysts have issued twelve-month price targets for Cenovus Energy's stock. Their CVE share price forecasts range from $6.00 to $37.00. On average, they anticipate the company's share price to reach $15.28 in the next twelve months. This suggests that the stock has a possible downside of 26.7%.
View analysts price targets for CVE or view top-rated stocks among Wall Street analysts.

Cenovus Energy's stock was trading at $19.41 at the start of the year. Since then, CVE shares have increased by 7.5% and is now trading at $20.86.
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Cenovus Energy saw a increase in short interest during the month of 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 trading volume of 6,900,000 shares, the days-to-cover ratio is presently 6.9 days. Currently, 3.5% of the company's stock are sold short.
View Cenovus Energy's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Wednesday, November 1st 2023.
View our CVE earnings forecast.

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

Cenovus Energy announced a quarterly dividend on Thursday, July 27th. Investors 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 dividend on an annualized basis and a yield of 2.03%. 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.

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).

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.

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.

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).

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

Cenovus Energy's stock is owned by a variety of institutional and retail investors. Top institutional investors 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%).

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.
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One share of CVE stock can currently be purchased for approximately $20.86.

Cenovus Energy (NYSE:CVE) has a market capitalization of $39.56 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.

The company employs 5,998 workers across the globe.

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.