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TSE:CVE

Cenovus Energy (CVE) Stock Price, News & Analysis

C$27.34
+0.03 (+0.11%)
(As of 07/26/2024 ET)
Today's Range
C$26.84
C$27.43
50-Day Range
C$25.06
C$28.62
52-Week Range
C$19.82
C$29.96
Volume
2.20 million shs
Average Volume
5.20 million shs
Market Capitalization
C$51.13 billion
P/E Ratio
10.98
Dividend Yield
2.71%
Price Target
C$34.08

Cenovus Energy MarketRank™ Stock Analysis

Analyst Rating
Buy
3.00 Rating Score
Upside/​Downside
24.6% Upside
C$34.08 Price Target
Short Interest
N/A
Dividend Strength
Weak
Based on Four Factors
Sustainability
N/A
News Sentiment
0.70mentions of Cenovus Energy in the last 14 days
Based on 12 Articles This Week
Insider Trading
Selling Shares
C$22.70 M Sold Last Quarter
Proj. Earnings Growth
N/A

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

3.85 out of 5 stars

CVE stock logo

About Cenovus Energy Stock (TSE:CVE)

Cenovus Energy Inc., together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments. The Oil Sands segment develops and produces bitumen and heavy oil in northern Alberta and Saskatchewan. This segment assets include Foster Creek, Christina Lake, and Sunrise projects, as well as Lloydminster thermal and conventional heavy oil assets. The Conventional segment holds natural gas liquids and natural gas assets primarily located in Elmworth-Wapiti, Kaybob-Edson, Clearwater, and Rainbow Lake operating in Alberta and British Columbia, as well as interests in various natural gas processing facilities. The offshore segment engages in offshore operation, exploration, and development activities in China and the East Coast of Canada. The Canadian Refining segment owns and operates Lloydminster upgrading and asphalt refining complex, which converts heavy oil and bitumen into synthetic crude oil, diesel, asphalt, and other ancillary products, as well as Bruderheim crude-by-rail terminal and ethanol plants. The U.S. Refining segment refines crude oil to produce gasoline, diesel, jet fuel, asphalt, and other products. Cenovus Energy Inc. is headquartered in Calgary, Canada.

CVE Stock Price History

CVE Stock News Headlines

CVE Aug 2024 22.000 put
J.P. Morgan’s DIRE Warning
When the largest bank in the U.S. says a crisis is coming - you NEED to listen. The Wall Street Journal warns, "America's bonds are getting harder to sell."
CVE Jan 2026 27.000 call
CVE Jan 2026 20.000 put
Closing Bell: Cenovus Energy Inc flat on Wednesday (CVE-PR-C)
Cenovus Energy (TSE:CVE) Price Target Raised to C$33.00 at Desjardins
J.P. Morgan’s DIRE Warning
When the largest bank in the U.S. says a crisis is coming - you NEED to listen. The Wall Street Journal warns, "America's bonds are getting harder to sell."
Scotiabank Keeps Their Buy Rating on Cenovus Energy (CVE)
See More Headlines
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Company Calendar

Last Earnings
5/01/2024
Ex-Dividend for 5/31 Dividend
5/16/2024
Dividend Payable
5/31/2024
Ex-Dividend for 6/28 Dividend
6/14/2024
Dividend Payable
6/28/2024
Today
7/26/2024
Next Earnings (Confirmed)
8/01/2024

Industry, Sector and Symbol

Sector
Energy
Industry
Oil & Gas Integrated
Sub-Industry
N/A
CIK
N/A
Fax
N/A
Employees
6,925
Year Founded
N/A

Price Target and Rating

Average Stock Price Target
C$34.08
High Stock Price Target
C$38.00
Low Stock Price Target
C$31.00
Potential Upside/Downside
+24.8%
Consensus Rating
Buy
Rating Score (0-4)
3.00
Research Coverage
9 Analysts

Profitability

Net Income
C$4.61 billion
Pretax Margin
N/A

Debt

Sales & Book Value

Annual Sales
C$53.34 billion
Cash Flow
C$1.99 per share
Book Value
C$15.66 per share

Miscellaneous

Outstanding Shares
1,870,000,000
Free Float
N/A
Market Cap
C$51.05 billion
Optionable
Not Optionable
Beta
2.77
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Key Executives

Should I Buy Cenovus Energy Stock? CVE Pros and Cons Explained

Pros

Here are some ways that investors could benefit from investing in Cenovus Energy Inc.:

  • Cenovus Energy Inc. has received an average recommendation of "Moderate Buy" from brokerages, indicating positive sentiment from analysts.
  • The company reported a quarterly EPS of C$0.62, surpassing the consensus estimate by C$0.15, showcasing strong financial performance.
  • Cenovus Energy's dividend payout ratio is currently 29.72%, offering investors a dividend yield of 2.68%, providing a source of passive income.
  • Insiders have recently bought 13,000 shares of company stock valued at $321,710, signaling confidence in the company's future prospects.
  • The stock's 50-day moving average is C$27.35, indicating a potential upward trend in the stock price based on recent performance.

Cons

Investors should be bearish about investing in Cenovus Energy Inc. for these reasons:

  • Cenovus Energy has a debt-to-equity ratio of 33.03, which may indicate higher financial leverage and associated risks.
  • The company's stock performance has shown volatility, with a 52-week range between C$19.82 and C$29.96, potentially leading to uncertainty for investors.
  • The company's beta of 2.77 suggests higher volatility compared to the market average, which may not be suitable for all investors seeking stability.
  • Corporate insiders own 31.50% of the company's stock, which could raise concerns about potential conflicts of interest or insider trading activities.
  • While the average 1-year price objective among brokerages is C$33.50, there is a possibility of price target revisions impacting investor sentiment and stock performance.
These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Monday, July 22, 2024. Please send any questions or comments about these Cenovus Energy pros and cons to contact@marketbeat.com.

CVE Stock Analysis - Frequently Asked Questions

How have CVE shares performed this year?

Cenovus Energy's stock was trading at C$22.08 at the beginning of the year. Since then, CVE shares have increased by 23.8% and is now trading at C$27.34.
View the best growth stocks for 2024 here
.

How were Cenovus Energy's earnings last quarter?

Cenovus Energy Inc. (TSE:CVE) announced its earnings results on Wednesday, May, 1st. The company reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.15. The firm earned $13.40 billion during the quarter, compared to analyst estimates of $13.71 billion. Cenovus Energy had a net margin of 8.72% and a trailing twelve-month return on equity of 16.11%.

How do I buy shares of Cenovus Energy?

Shares of CVE stock and other Canadian stocks can be purchased through an online brokerage account. Popular online brokerages with access to the Canadian stock market include BMO InvestorLine, CIBC Investor's Edge, Desjardins Online Brokerage, HSBC InvestDirect, Laurentian Bank Discount Brokerage, National Bank Direct Brokerage, Qtrade Investor, Questrade, RBC Direct Investing, Scotia iTrade, TD Direct Investing, and Virtual Brokers.
Compare Top Brokerages Here.

What other stocks do shareholders of Cenovus Energy own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Cenovus Energy investors own include Intact Financial (IFC), Constellation Software (CSU), AutoCanada (ACQ), Alimentation Couche-Tard (ATD.B), Vermilion Energy (VET), Air Canada (AC) and AbbVie (ABBV).

This page (TSE:CVE) was last updated on 7/26/2024 by MarketBeat.com Staff

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