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NYSE:CVE

Cenovus Energy (CVE) Stock Forecast, Price & News

$20.82
-0.29 (-1.37%)
(As of 09/29/2023 ET)
Compare
Today's Range
$20.79
$21.24
50-Day Range
$17.94
$21.11
52-Week Range
$14.97
$22.18
Volume
12.62 million shs
Average Volume
7.36 million shs
Market Capitalization
$39.48 billion
P/E Ratio
14.07
Dividend Yield
1.97%
Price Target
$15.28

Cenovus Energy MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.75 Rating Score
Upside/​Downside
26.6% 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
0.35mentions of Cenovus Energy in the last 14 days
Based on 7 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.

1.74 out of 5 stars

Oils/Energy Sector

212th out of 247 stocks

Crude Petroleum & Natural Gas Industry

73rd out of 79 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

Closing Bell: Cenovus Energy Inc WT up on Thursday (CVE-WT)
66,000% upside on tiny biotech?
The Wall Street Journal reports that this medical breakthrough is "Transforming Medicine." One analyst calculated that it could be worth $1 Trillion, making the upside potential of this small-cap 66,000% above today's price.
Closing Bell: Cenovus Energy Inc down on Wednesday (CVE-PR-B)
The single greatest medical breakthrough of all time?
We are on the cusp of a medical breakthrough. And soon, this single breakthrough could lead to the cure of over 6,000 genetic diseases, including Alzheimer's, heart disease, and even cancer! This reminds me of Amgen, where early investors made as much as 46,751% when they released their revolutionary drug to the market.
Cenovus Energy: Cash Drain Ending
TSX Ends Weak As Technology, Energy Stocks Post Sharp Losses
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

Last Earnings
7/27/2023
Ex-Dividend for 9/29 Dividend
9/14/2023
Today
9/29/2023
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
-27.0%
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
$4.47 per share
Book Value
$10.91 per share

Miscellaneous

Outstanding Shares
1,896,440,000
Free Float
N/A
Market Cap
$39.71 billion
Optionable
Optionable
Beta
2.24

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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 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 "moderate 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 price objectives for Cenovus Energy's stock. Their CVE share price forecasts range from $6.00 to $37.00. On average, they predict the company's share price to reach $15.28 in the next year. This suggests that the stock has a possible downside of 27.0%.
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 on January 1st, 2023. Since then, CVE shares have increased by 7.9% and is now trading at $20.94.
View the best growth stocks for 2023 here
.

Are investors shorting Cenovus Energy?

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 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 Wednesday, November 1st 2023.
View our CVE earnings forecast
.

How were Cenovus Energy's earnings last quarter?

Cenovus Energy Inc. (NYSE:CVE) posted its earnings results on Thursday, July, 27th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, topping 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 net margin of 6.98% and a trailing twelve-month return on equity of 14.29%.

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 given a dividend of $0.106 per share on Friday, September 29th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Thursday, September 14th. This is an increase 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 1.98%. 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."

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 $20.94.

How much money does Cenovus Energy make?

Cenovus Energy (NYSE:CVE) has a market capitalization of $39.71 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 9/29/2023 by MarketBeat.com Staff

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