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NYSE:CVE

Cenovus Energy - CVE Stock Forecast, Price & News

$18.43
-0.73 (-3.81%)
(As of 12/6/2022 12:00 AM ET)
Add
Compare
Today's Range
$18.36
▼
$19.58
50-Day Range
$14.85
▼
$21.61
52-Week Range
$10.72
▼
$24.91
Volume
8.08 million shs
Average Volume
10.44 million shs
Market Capitalization
$35.36 billion
P/E Ratio
9.17
Dividend Yield
1.57%
Price Target
$29.56

Cenovus Energy MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.80 Rating Score
Upside/​Downside
60.4% Upside
$29.56 Price Target
Short Interest
Bearish
2.74% of Float Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-8.62
Upright™ Environmental Score
News Sentiment
0.63mentions of Cenovus Energy in the last 14 days
Based on 3 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
-0.35%
From $2.83 to $2.82 Per Share

Overall MarketRank™

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

2.00 out of 5 stars

Oils/Energy Sector

159th out of 246 stocks

Crude Petroleum & Natural Gas Industry

63rd out of 79 stocks

See Top Rated MarketRank™ Stocks Here
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

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CVE Stock News Headlines

December 6, 2022 | reuters.com
Cenovus Energy forecasts higher capital spend, output in 2023
December 6, 2022 | finance.yahoo.com
Cenovus announces 2023 budget
November 30, 2022 | msn.com
Should You Still Invest in Canadian Energy Stocks This Year?
November 22, 2022 | finance.yahoo.com
Cenovus Energy Inc. (TSE:CVE) On An Uptrend: Could Fundamentals Be Driving The Stock?
November 17, 2022 | fool.ca
2 Energy Stocks to Hedge Your TFSA in 2023
November 16, 2022 | msn.com
5 Things to Know About CVE Stock in November 2022
November 11, 2022 | seekingalpha.com
Cenovus Energy: Buy For The Income And Stay For The Growth
November 7, 2022 | finance.yahoo.com
Cenovus announces renewal of share buyback program
October 21, 2022 | finance.yahoo.com
Analyst Forecasts Just Became More Bearish On Cenovus Energy Inc. (TSE:CVE)
October 20, 2022 | investing.com
Cenovus Energy Inc Preferred Series 7 (CVE_pg)
October 20, 2022 | finance.yahoo.com
CF Industries, CVB Financial, Cenovus Energy, 13 Other Stocks Enter IBD Watchlists Today
October 19, 2022 | finance.yahoo.com
10 Best Stocks to Buy According to Billionaire Dan Loeb
October 5, 2022 | finance.yahoo.com
10 Best Stocks to Buy According to Ed Bosek’s BeaconLight Capital
October 4, 2022 | nasdaq.com
CVE Crosses Above Key Moving Average Level
September 30, 2022 | seekingalpha.com
Cenovus Energy: Still Growing
September 30, 2022 | seekingalpha.com
Cenovus Energy: Buy The Dip
September 29, 2022 | seekingalpha.com
Cenovus Energy: Don't Buy The Dip Until You See Analysts Panicking
September 27, 2022 | seekingalpha.com
CVE Cenovus Energy Inc.
September 27, 2022 | msn.com
Cenovus Stock May Lift Your TFSA in a Recession Year
September 24, 2022 | reuters.com
CVE.Z - | Stock Price & Latest News | Reuters
September 23, 2022 | msn.com
2CVE : Cenovus Energy Whale Trades Spotted
September 22, 2022 | finance.yahoo.com
Market Could be “Flat” for 10 Years: Druckenmiller’s Prediction and His 10 Defensive Stock Picks
September 16, 2022 | finance.yahoo.com
RPC (RES) Stock Surges 90.2% in the Past Year: Here's Why
September 15, 2022 | finance.yahoo.com
Here's Why Cenovus (CVE) is an Attractive Investment Bet
September 14, 2022 | markets.businessinsider.com
TSX Ends Moderately Higher
See More Headlines
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CVE Company Calendar

Last Earnings
11/02/2021
Ex-Dividend for 12/2 Dividend
11/17/2022
Dividend Payable
12/02/2022
Today
12/06/2022
Ex-Dividend for 12/30 Dividend
12/14/2022
Dividend Payable
12/30/2022
Fiscal Year End
12/31/2022
Next Earnings (Estimated)
2/14/2023
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
2,413
Year Founded
2009

Price Target and Rating

Average Stock Price Forecast
$29.56
High Stock Price Forecast
$36.00
Low Stock Price Forecast
$19.00
Forecasted Upside/Downside
+60.4%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.80
Research Coverage
5 Analysts

Profitability

EPS (Most Recent Fiscal Year)
$2.01
Trailing P/E Ratio
9.17
Forward P/E Ratio
6.51
P/E Growth
N/A
Net Income
$468.37 million
Net Margins
7.66%
Pretax Margin
11.00%
Return on Equity
26.94%
Return on Assets
12.22%

Debt

Debt-to-Equity Ratio
0.32
Current Ratio
1.55
Quick Ratio
1.00

Sales & Book Value

Annual Sales
$36.99 billion
Price / Sales
0.96
Cash Flow
$2.94 per share
Price / Cash Flow
6.27
Book Value
$9.21 per share
Price / Book
2.00

Miscellaneous

Outstanding Shares
1,918,807,000
Free Float
N/A
Market Cap
$35.36 billion
Optionable
Optionable
Beta
2.30

Social Links


Key Executives

  • Mr. Alexander J. Pourbaix (Age 56)
    CEO, Pres & Director
    Comp: $3.19M
  • Mr. Jeffrey Ryan Hart
    Exec. VP & CFO
  • Mr. Jonathan M. McKenzie (Age 54)
    Exec. VP & COO
    Comp: $1.35M
  • Mr. Joseph Drew Zieglgansberger
    Exec. VP of Natural Gas & Technical Services
  • Mr. Keith A. Chiasson
    Exec. VP of Downstream
  • Ms. Sherry A. Wendt
    Director of Investor Relations
  • Mr. Gary Frederick Molnar
    Sr. VP of Legal, Gen. Counsel & Corp. Sec.
  • Mr. Kam S. Sandhar CA
    Exec. VP of Strategy & Corp. Devel.
  • Ms. Susan Anderson
    Sr. Vice-Pres of People Services
  • Mr. Alan Craig Reid
    Advisor

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions













CVE Stock - Frequently Asked Questions

Should I buy or sell Cenovus Energy stock right now?

5 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 4 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" CVE shares.
View CVE analyst ratings or view top-rated stocks.

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

5 brokerages have issued 1 year price objectives for Cenovus Energy's shares. Their CVE share price forecasts range from $19.00 to $36.00. On average, they predict the company's share price to reach $29.56 in the next twelve months. This suggests a possible upside of 53.9% from the stock's current price.
View analysts price targets for CVE or view top-rated stocks among Wall Street analysts.

How have CVE shares performed in 2022?

Cenovus Energy's stock was trading at $12.28 at the beginning of 2022. Since then, CVE stock has increased by 56.4% and is now trading at $19.20.
View the best growth stocks for 2022 here.

When is Cenovus Energy's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, February 14th 2023.
View our CVE earnings forecast.

How were Cenovus Energy's earnings last quarter?

Cenovus Energy Inc. (NYSE:CVE) announced its earnings results on Tuesday, November, 2nd. The oil and gas company reported $0.27 earnings per share 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 26.94% and a net margin of 7.66%. During the same period last year, the firm posted ($0.28) earnings per share.

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

Cenovus Energy declared a dividend on Tuesday, November 15th. Stockholders of record on Friday, November 18th will be given a dividend of $0.114 per share on Friday, December 2nd. The ex-dividend date is Thursday, November 17th.
Read our dividend analysis for CVE.

Is Cenovus Energy a good dividend stock?

Cenovus Energy (NYSE:CVE) pays an annual dividend of $0.30 per share and currently has a dividend yield of 1.51%. The company does not yet have a strong track record of dividend growth. The dividend payout ratio is 14.93%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, CVE will have a dividend payout ratio of 10.64% 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 variety of retail and institutional investors. Top institutional investors include Vanguard Group Inc. (2.16%), TD Asset Management Inc. (1.82%), Boston Partners (1.18%), Connor Clark & Lunn Investment Management Ltd. (0.96%), Mackenzie Financial Corp (0.65%) and Point72 Asset Management L.P. (0.44%).

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 $19.20.

How much money does Cenovus Energy make?

Cenovus Energy (NYSE:CVE) has a market capitalization of $36.84 billion and generates $36.99 billion in revenue each year. The oil and gas company earns $468.37 million in net income (profit) each year or $2.01 on an earnings per share basis.

How many employees does Cenovus Energy have?

The company employs 2,413 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 12/6/2022 by MarketBeat.com Staff