NYSE:CVE

Cenovus Energy - CVE Stock Forecast, Price & News

$20.65

+0.28 (+1.37%)

(As of 11/30/2022 08:21 AM ET)

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Today's Range: $20.65
▼
$20.65
50-Day Range: $14.60
▼
$21.61
52-Week Range: $10.72
▼
$24.91

Volume: 500 shs
Average Volume: 6.85 million shs
Market Capitalization: $39.62 billion

P/E Ratio: 10.27
Dividend Yield: 1.54%
Price Target: $29.56

Cenovus Energy MarketRank™ Forecast

Analyst Rating: Moderate Buy
2.80 Rating Score
Upside/Downside: 45.1% 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: 0.56
Based on 2 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

172nd out of 245 stocks

Crude Petroleum & Natural Gas Industry

65th out of 81 stocks

3.4

Analyst's Opinion

Consensus Rating
Cenovus Energy has received a consensus rating of Buy. The company's average rating score is 2.80, and is based on 4 buy ratings, 1 hold rating, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $29.56, Cenovus Energy has a forecasted upside of 45.1% from its current price of $20.37.
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
2.74% 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 4.9.
Change versus previous month
Short interest in Cenovus Energy has recently increased by 3.27%, indicating that investor sentiment is decreasing.

2.5

Dividend Strength

Dividend Yield
Cenovus Energy pays a meaningful dividend of 1.54%, 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 14.93%. 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 10.64% 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.

2.0

News and Social Media Coverage

News Sentiment
Cenovus Energy has a news sentiment score of 0.56. 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 news sentiment score is similar to the average news sentiment of Oils/Energy companies.
News Coverage This Week
MarketBeat has tracked 2 news articles for Cenovus Energy this week, compared to 3 articles on an average week.
Search Interest
Only 46 people have searched for CVE on MarketBeat in the last 30 days. This is a decrease of -13% compared to the previous 30 days.
MarketBeat Follows
19 people have added Cenovus Energy to their MarketBeat watchlist in the last 30 days. This is an increase of 217% 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
50.30% of the stock of Cenovus Energy is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

1.3

Earnings and Valuation

Earnings Growth
Earnings for Cenovus Energy are expected to decrease by -0.35% in the coming year, from $2.83 to $2.82 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Cenovus Energy is 10.13, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 120.14.
Price to Earnings Ratio vs. Sector
The P/E ratio of Cenovus Energy is 10.13, which means that it is trading at a less expensive P/E ratio than the Oils/Energy sector average P/E ratio of about 42.67.
Price to Book Value per Share Ratio
Cenovus Energy has a P/B Ratio of 1.87. 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

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CVE Stock News Headlines

November 24, 2022 | americanbankingnews.com

Credit Suisse Group Trims Cenovus Energy (NYSE:CVE) Target Price to C$35.00

November 23, 2022 | americanbankingnews.com

Cenovus Energy (NYSE:CVE) Stock Price Down 6.4% Following Analyst Downgrade

November 23, 2022 | americanbankingnews.com

Cenovus Energy (NYSE:CVE) Stock Price Down 6.4% After Analyst Downgrade

November 23, 2022 | americanbankingnews.com

Cenovus Energy (NYSE:CVE) Stock Rating Lowered by The Goldman Sachs Group

November 23, 2022 | americanbankingnews.com

Credit Suisse Group Lowers Cenovus Energy (NYSE:CVE) Price Target to C$35.00

November 22, 2022 | finance.yahoo.com

Cenovus Energy Inc. (TSE:CVE) On An Uptrend: Could Fundamentals Be Driving The Stock?

November 21, 2022 | americanbankingnews.com

Cenovus Energy Inc. (NYSE:CVE) Receives $29.89 Average Price Target from Analysts

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

See More Headlines

30 days | 90 days | 365 days | Advanced Chart

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CVE Company Calendar

Last Earnings: 11/02/2021
Ex-Dividend for 12/2 Dividend: 11/17/2022
Today: 11/30/2022
Dividend Payable: 12/02/2022
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

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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: +43.1%
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: 10.27
Forward P/E Ratio: 7.30
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: 1.07
Cash Flow: $3.36 per share
Price / Cash Flow: 6.15
Book Value: $10.88 per share
Price / Book: 1.90

Miscellaneous

Outstanding Shares: 1,918,810,000
Free Float: N/A
Market Cap: $39.62 billion
Optionable: Optionable
Beta: 2.33

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 equities research analysts 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 anticipate the company's stock price to reach $29.56 in the next twelve months. This suggests a possible upside of 45.1% 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 on January 1st, 2022. Since then, CVE shares have increased by 65.9% and is now trading at $20.37.
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) issued its 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 earned $10.67 billion during the quarter, compared to analysts' expectations of $11.74 billion. Cenovus Energy had a net margin of 7.66% and a trailing twelve-month return on equity of 26.94%. During the same period in the prior year, the company posted ($0.28) EPS.
How often does Cenovus Energy pay dividends? What is the dividend yield for Cenovus Energy?: Cenovus Energy announced a dividend on Tuesday, November 15th. Stockholders of record on Friday, November 18th will be paid a dividend of $0.114 per share on Friday, December 2nd. The ex-dividend date of this dividend 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 1.54%. 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 number 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 $20.37.
How much money does Cenovus Energy make?: Cenovus Energy (NYSE:CVE) has a market capitalization of $39.09 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 11/30/2022 by MarketBeat.com Staff

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Cenovus Energy - CVE Stock Forecast, Price & News

Cenovus Energy MarketRank™ Forecast

Overall MarketRank™

Analyst's Opinion

Short Interest

Percentage of Shares Shorted

Short Interest Ratio / Days to Cover

Change versus previous month

Dividend Strength

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score

Environmental Sustainability

News and Social Media Coverage

News Sentiment

News Coverage This Week

Search Interest

MarketBeat Follows

Company Ownership

Earnings and Valuation

About Cenovus Energy (NYSE:CVE) Stock

CVE Stock News Headlines

CVE Company Calendar

Industry, Sector and Symbol

Price Target and Rating

Profitability

Debt

Sales & Book Value

Miscellaneous

Social Links

Key Executives

Key Competitors

Insiders & Institutions

CVE Stock - Frequently Asked Questions

Overall MarketRank^™