NYSE:CVE

Cenovus Energy (CVE) Stock Forecast, Price & News

$20.10

-0.72 (-3.46%)

(As of 05:07 PM ET)

Compare

Today's Range: $19.94
▼
$20.96
50-Day Range: $17.94
▼
$21.11
52-Week Range: $14.97
▼
$22.18

Volume: 9.45 million shs
Average Volume: 7.37 million shs
Market Capitalization: $37.96 billion

P/E Ratio: 13.58
Dividend Yield: 2.04%
Price Target: $15.28

Cenovus Energy MarketRank™ Forecast

Analyst Rating: Moderate Buy
2.75 Rating Score
Upside/Downside: 24.1% 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: 0.28
Based on 11 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: 37.82%
From $1.56 to $2.15 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

214th out of 251 stocks

Crude Petroleum & Natural Gas Industry

76th out of 82 stocks

1.4

Analyst's Opinion

Consensus Rating
Cenovus Energy has received a consensus rating of Moderate Buy. The company's average rating score is 2.75, and is based on 3 buy ratings, 1 hold rating, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $15.28, Cenovus Energy has a forecasted downside of 24.1% from its current price of $20.13.
Amount of Analyst Coverage
Cenovus Energy has only been the subject of 2 research reports in the past 90 days.

2.0

Short Interest

Percentage of Shares Shorted
3.53% of the float of Cenovus Energy has been sold short.
Short Interest Ratio / Days to Cover
Cenovus Energy has a short interest ratio ("days to cover") of 6.9.
Change versus previous month
Short interest in Cenovus Energy has recently increased by 23.59%, indicating that investor sentiment is decreasing significantly.

2.5

Dividend Strength

Dividend Yield
Cenovus Energy pays a meaningful dividend of 1.99%, higher than the bottom 25% of all stocks that pay dividends.
Dividend Growth
Cenovus Energy does not have a long track record of dividend growth.
Dividend Coverage
The dividend payout ratio of Cenovus Energy is 27.70%. This payout ratio is at a healthy, sustainable level, below 75%.
Dividend Sustainability
Based on earnings estimates, Cenovus Energy will have a dividend payout ratio of 19.07% next year. This indicates that Cenovus Energy will be able to sustain or increase its dividend.

0.0

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
Cenovus Energy has received a -131.24% net impact score from Upright. The largest negative impact of Cenovus Energy in category "GHG emissions" seems to be driven mostly by its "Gasoline", "Oil sand", "Refined oil shale", "Diesel rail freight transport services for the energy industry", "Conventional crude oil", and "Conventional natural gas" products. See details.
Environmental Sustainability
The Environmental Impact score for Cenovus Energy is -8.62.

2.9

News and Social Media Coverage

News Sentiment
Cenovus Energy has a news sentiment score of 0.28. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.63 average news sentiment score of Oils/Energy companies.
News Coverage This Week
MarketBeat has tracked 11 news articles for Cenovus Energy this week, compared to 4 articles on an average week.
Search Interest
25 people have searched for CVE on MarketBeat in the last 30 days. This is an increase of 67% compared to the previous 30 days.
MarketBeat Follows
8 people have added Cenovus Energy to their MarketBeat watchlist in the last 30 days. This is an increase of 100% compared to the previous 30 days.

0.8

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Cenovus Energy insiders have not sold or bought any company stock.
Percentage Held by Institutions
50.01% of the stock of Cenovus Energy is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

2.5

Earnings and Valuation

Earnings Growth
Earnings for Cenovus Energy are expected to grow by 37.82% in the coming year, from $1.56 to $2.15 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Cenovus Energy is 13.60, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 113.46.
Price to Earnings Ratio vs. Sector
The P/E ratio of Cenovus Energy is 13.60, which means that it is trading at a more expensive P/E ratio than the Oils/Energy sector average P/E ratio of about 12.57.
Price to Book Value per Share Ratio
Cenovus Energy has a P/B Ratio of 1.85. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

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

30 days | 90 days | 365 days | Advanced Chart

CVE Stock News Headlines

September 30, 2023 | americanbankingnews.com

Q3 2024 EPS Estimates for Cenovus Energy Inc. (NYSE:CVE) Increased by Analyst

September 29, 2023 | americanbankingnews.com

Zacks Research Comments on Cenovus Energy Inc.'s Q3 2023 Earnings (NYSE:CVE)

October 2, 2023 | Behind the Markets (Ad)

Buy THIS stock before Taiwan is attacked

... If the United States goes to war with another nuclear armed superpower, this could have a devastating impact on your retirement portfolio. Now, even Taiwan's own foreign minister is saying that China is on the cusp of a full scale invasion. But the good news is, if China invades Taiwan, there is a way to protect yourself.

September 28, 2023 | theglobeandmail.com

Closing Bell: Cenovus Energy Inc WT up on Thursday (CVE-WT)

September 19, 2023 | finance.yahoo.com

Cenovus Energy announces pricing of tender offers for certain outstanding series of notes

September 19, 2023 | finance.yahoo.com

Cenovus Energy announces early tender results and increase of tender offers for certain outstanding series of notes

September 14, 2023 | theglobeandmail.com

Closing Bell: Cenovus Energy Inc down on Wednesday (CVE-PR-B)

September 12, 2023 | msn.com

Cenovus Energy Is Profiting Off High Oil Prices

October 2, 2023 | Behind the Markets (Ad)

Buy THIS stock before Taiwan is attacked

September 5, 2023 | finance.yahoo.com

Cenovus Energy announces tender offers for certain outstanding series of notes

September 1, 2023 | seekingalpha.com

Cenovus Energy: Cash Drain Ending

August 24, 2023 | markets.businessinsider.com

TSX Ends Weak As Technology, Energy Stocks Post Sharp Losses

August 23, 2023 | seekingalpha.com

Chevron Is Better Than Cenovus

August 22, 2023 | theglobeandmail.com

Closing Bell: Cenovus Energy Inc down on Monday (CVE-PR-C)

August 16, 2023 | theglobeandmail.com

Closing Bell: Cenovus Energy Inc up on Tuesday (CVE-PR-A)

August 11, 2023 | theglobeandmail.com

Closing Bell: Cenovus Energy Inc down on Thursday (CVE-PR-B)

August 11, 2023 | seekingalpha.com

Cenovus Energy Inc. 2023 Q2 - Results - Earnings Call Presentation

August 9, 2023 | theglobeandmail.com

Closing Bell: Cenovus Energy Inc up on Tuesday (CVE-PR-B)

August 9, 2023 | finance.yahoo.com

Cenovus Energy (TSE:CVE) delivers shareholders solid 57% CAGR over 3 years, surging 4.2% in the last week alone

August 3, 2023 | theglobeandmail.com

Closing Bell: Cenovus Energy Inc up on Wednesday (CVE-PR-B)

August 2, 2023 | theglobeandmail.com

Closing Bell: Cenovus Energy Inc down on Tuesday (CVE-PR-G)

July 31, 2023 | theglobeandmail.com

Closing Bell: Cenovus Energy Inc down on Monday (CVE-PR-B)

July 29, 2023 | seekingalpha.com

Cenovus Energy GAAP EPS of C$0.44, revenue of C$12.23B

July 28, 2023 | markets.businessinsider.com

Analysts Offer Insights on NA Companies: Tamarack Valley Energy (OtherTNEYF) and Cenovus Energy (CVE)

July 28, 2023 | seekingalpha.com

Cenovus Energy Q2 2023 Earnings Preview

July 28, 2023 | reuters.com

Cenovus Energy beats quarterly profit estimates, shares climb

July 27, 2023 | news.yahoo.com

Cenovus CEO shrugs off Ottawa's plan to nix subsidies

See More Headlines

Receive CVE Stock News and Ratings via Email

Sign-up to receive the latest news and ratings for Cenovus Energy and its competitors with MarketBeat's FREE daily newsletter.

CVE Company Calendar

Last Earnings: 7/27/2023
Ex-Dividend for 9/29 Dividend: 9/14/2023
Dividend Payable: 9/29/2023
Today: 10/02/2023
Next Earnings (Estimated): 11/01/2023
Fiscal Year End: 12/31/2023

Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange: NYSE
Industry: Crude petroleum & natural gas
Sub-Industry: N/A
Sector: Oils/Energy
Current Symbol: NYSE:CVE
CUSIP: N/A
CIK: 1475260
Web: www.cenovus.com
Phone: (403) 766-2000
Fax: 403-766-7600
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: -23.7%
Consensus Rating: Moderate Buy
Rating Score (0-4): 2.75
Research Coverage: 4 Analysts

Profitability

EPS (Most Recent Fiscal Year): $1.48
Trailing P/E Ratio: 13.53
Forward P/E Ratio: 12.84
P/E Growth: N/A
Net Income: $4.96 billion
Net Margins: 6.98%
Pretax Margin: 8.73%
Return on Equity: 14.29%
Return on Assets: 7.09%

Debt

Debt-to-Equity Ratio: 0.32
Current Ratio: 1.50
Quick Ratio: 0.86

Sales & Book Value

Annual Sales: $51.46 billion
Price / Sales: 0.74
Cash Flow: $4.32 per share
Price / Cash Flow: 4.64
Book Value: $10.91 per share
Price / Book: 1.84

Miscellaneous

Outstanding Shares: 1,888,530,000
Free Float: N/A
Market Cap: $37.83 billion
Optionable: Optionable
Beta: 2.20

Social Links

13 Stocks Institutional Investors Won't Stop Buying

Which stocks are major institutional investors including hedge funds and endowments buying in today's market? Click the link below and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying up as quickly as they can.

Get This Free Report

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

Key Competitors

View All Competitors

Institutional Ownership

View All Institutional Transactions

CVE Stock - Frequently Asked Questions

Should I buy or sell Cenovus Energy stock right now?: 4 Wall Street 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 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 Wall Street 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 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 23.7%.
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 shares have increased by 3.2% and is now trading at $20.03.
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. Currently, 3.5% of the shares of the 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 data 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 had revenue of $9.11 billion for 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 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Thursday, September 14th. This is a positive change 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 1.99%. 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 19.07% 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 $20.03.
How much money does Cenovus Energy make?: Cenovus Energy (NYSE:CVE) has a market capitalization of $37.83 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 10/2/2023 by MarketBeat.com Staff

Get 30 Days of MarketBeat All Access Free

Best-in-Class Portfolio Monitoring
View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.
Stock Ideas and Recommendations
Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.
Advanced Stock Screeners and Research Tools
Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.

Start Your 30-Day Free Trial