Cenovus Energy (CVE) Stock Forecast, Price & News

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.

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.

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.
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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.

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

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.

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.

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 Momentum Factor ETF (IMTM) and iShares MSCI Intl Quality Factor ETF (IQLT).iShares Core MSCI International Developed Markets ETF (IDEV).

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.

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 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%).

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 $17.41.

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.

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.