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Cenovus Energy Stock Price, News & Analysis (TSE:CVE)

C$24.05
+0.07 (+0.29%)
(As of 12:45 PM ET)
Compare
Today's Range
C$23.79
▼
C$24.20
50-Day Range
C$23.86
▼
C$29.05
52-Week Range
C$20.31
▼
C$29.18
Volume
1.28 million shs
Average Volume
5.08 million shs
Market Capitalization
C$45.21 billion
P/E Ratio
11.29
Dividend Yield
2.33%
Price Target
C$32.97
Stock AnalysisAnalyst ForecastsChartCompetitorsDividendEarningsHeadlinesInsider Trades

Cenovus Energy MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.91 Rating Score
Upside/​Downside
37.5% Upside
C$32.97 Price Target
Short Interest
N/A
Dividend Strength
Weak
Based on Four Factors
Sustainability
N/A
News Sentiment
N/A
Insider Trading
N/A
Proj. Earnings Growth
N/A

Overall MarketRank™

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

3.09 out of 5 stars

See Top Rated MarketRank™ Stocks Here

CVE stock logo

About Cenovus Energy Stock (TSE:CVE)

Cenovus Energy Inc., together with its subsidiaries, develops, produces, refines, transports, and markets crude oil and natural gas in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Manufacturing, and U.S. Manufacturing 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 Manufacturing segment comprises the owned and operated 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 owns and operates the Bruderheim crude-by-rail terminal and ethanol plants; and markets its production of its own and third-party products. The U.S. Manufacturing segment includes the refining of crude oil to produce gasoline, diesel, jet fuel, asphalt, and other products. Cenovus Energy Inc. was founded in 2009 and is headquartered in Calgary, Canada.

CVE Stock Price History

CVE Stock News Headlines

November 28, 2023 | americanbankingnews.com
Cenovus Energy (TSE:CVE) Share Price Crosses Below Two Hundred Day Moving Average of $24.96
November 21, 2023 | benzinga.com
$1000 Invested In Cenovus Energy 5 Years Ago Would Be Worth This Much Today
November 29, 2023 | Tomorrow Investor (Ad)
The Only Practical Solution to the World’s Looming Energy Crisis
There’s just one problem: There are more plans for new uses of nuclear than there is uranium to fuel the plants!
November 21, 2023 | americanbankingnews.com
Cenovus Energy (TSE:CVE) Given New C$34.00 Price Target at Jefferies Financial Group
November 16, 2023 | seekingalpha.com
Cenovus Energy: Keeping The Original Strategy Going
November 14, 2023 | markets.businessinsider.com
Positive Financial Outlook and Operational Progress Drive Buy Rating for Cenovus Energy
November 7, 2023 | markets.businessinsider.com
Cenovus Energy Announces Renewal Of Normal Course Issuer Bid - Quick Facts
November 7, 2023 | finance.yahoo.com
Cenovus Energy announces renewal of share buyback program
November 29, 2023 | Tomorrow Investor (Ad)
The Only Practical Solution to the World’s Looming Energy Crisis
There’s just one problem: There are more plans for new uses of nuclear than there is uranium to fuel the plants!
November 2, 2023 | msn.com
Cenovus CEO weighs in on Phillips 66 refinery sale rumours
November 2, 2023 | ca.finance.yahoo.com
Cenovus Energy's quarterly profit rises as US refineries recover
November 2, 2023 | reuters.com
Cenovus Energy's quarterly profit rises as production climbs
November 2, 2023 | msn.com
Cenovus Energy (CVE) Price Target Increased by 9.04% to 24.23
November 1, 2023 | finance.yahoo.com
Cenovus Energy Inc. (TSE:CVE) Stock Has Shown Weakness Lately But Financials Look Strong: Should Prospective Shareholders Make The Leap?
October 31, 2023 | finance.yahoo.com
Cenovus Energy (CVE) Surged as WTI Oil Prices Rose
October 23, 2023 | theglobeandmail.com
Closing Bell: Cenovus Energy Inc up on Monday (CVE-PR-B)
October 23, 2023 | msn.com
Investing in Canadian Energy Stocks: Is Now the Right Time?
October 19, 2023 | markets.businessinsider.com
Analysts Have Conflicting Sentiments on These NA Companies: Cenovus Energy (CVE) and Kinder Morgan (KMI)
October 5, 2023 | msn.com
The Top Stocks to Buy With $6,500 Right Now
October 2, 2023 | theglobeandmail.com
Closing Bell: Cenovus Energy Inc flat on Friday (CVE-PR-B)
September 29, 2023 | finance.yahoo.com
Is There An Opportunity With Cenovus Energy Inc.'s (TSE:CVE) 21% Undervaluation?
September 29, 2023 | msn.com
Indigenous group says oil & gas essential for federal loan-guarantee plan
September 19, 2023 | msn.com
Cenovus announces increase of tender offers for certain outstanding series of notes
September 18, 2023 | theglobeandmail.com
Closing Bell: Cenovus Energy Inc WT down on Monday (CVE-WT)
September 18, 2023 | msn.com
Alberta premier wants to unveil carbon capture storage tax credits at COP 28
September 18, 2023 | finance.yahoo.com
UPDATE 1-Alberta premier wants to unveil carbon capture storage tax credits at COP 28
September 18, 2023 | msn.com
3 Nuclear Fusion Stocks to Buy Right Now
See More Headlines
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Company Calendar

Ex-Dividend for 9/29 Dividend
9/14/2023
Dividend Payable
9/29/2023
Last Earnings
11/02/2023
Today
11/29/2023
Ex-Dividend for 12/29 Dividend
12/14/2023
Dividend Payable
12/29/2023
Next Earnings (Estimated)
2/15/2024
Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange
TSE
Industry
Oil & Gas Integrated
Sub-Industry
N/A
Sector
Energy
Current Symbol
TSE:CVE
CUSIP
N/A
CIK
N/A
Web
www.cenovus.com
Phone
+1-403-7662000
Fax
N/A
Employees
5,998
Year Founded
N/A

Price Target and Rating

Average Stock Price Target
C$32.97
High Stock Price Target
C$37.00
Low Stock Price Target
C$29.00
Potential Upside/Downside
+37.4%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.91
Research Coverage
11 Analysts

Profitability

EPS (Most Recent Fiscal Year)
C$2.13
Trailing P/E Ratio
11.27
Forward P/E Ratio
5.98
P/E Growth
0.09
Net Income
C$4.11 billion
Net Margins
7.81%
Pretax Margin
N/A
Return on Equity
14.66%
Return on Assets
6.64%

Debt

Debt-to-Equity Ratio
34.59
Current Ratio
1.49
Quick Ratio
1.00

Sales & Book Value

Annual Sales
C$53.13 billion
Price / Sales
0.85
Cash Flow
C$1.75 per share
Price / Cash Flow
13.71
Book Value
C$15.01 per share
Price / Book
1.60

Miscellaneous

Outstanding Shares
1,880,000,000
Free Float
N/A
Market Cap
C$45.12 billion
Optionable
Not Optionable
Beta
2.82
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Key Executives

Key Competitors

View All Competitors

Insiders

View All Insider Transactions

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

These insights were generated using artificial intelligence. They are based on proprietary MarketBeat data, news articles, and custom LLM A.I. algorithms. This analysis of Cenovus Energy was last updated on Thursday, November 16, 2023 at 12:00 AM.

Pros

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

  • Cenovus Energy Inc., together with its subsidiaries, develops, produces, refines, transports, and markets crude oil and natural gas in Canada and internationally. This diversified portfolio allows for potential growth and revenue generation.
  • Cenovus Energy Inc. has a strong track record of innovation and technological advancements in the energy sector. This positions the company well for future growth and competitiveness.
  • The company's focus on sustainability and environmental stewardship aligns with the growing demand for clean energy solutions. This could attract socially responsible investors and enhance the company's reputation.
  • Cenovus Energy Inc. has a robust refining and marketing segment, which allows the company to capture additional value from its production. This integrated business model provides a competitive advantage in the industry.
  • Recent developments in the energy market, such as increasing oil prices and growing demand for natural gas, create favorable conditions for Cenovus Energy Inc. to generate higher profits and returns for investors.

Cons

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

  • The volatility of oil and gas prices can significantly impact the company's financial performance. Fluctuations in commodity prices may lead to unpredictable revenue and earnings for Cenovus Energy Inc.
  • The energy sector is subject to various regulatory and political risks, including changes in government policies and environmental regulations. These factors can affect the company's operations and profitability.
  • Cenovus Energy Inc. operates in a highly competitive industry, facing competition from both domestic and international players. This competitive landscape may limit the company's market share and pricing power.
  • The ongoing transition towards renewable energy sources poses a long-term threat to the demand for fossil fuels. Cenovus Energy Inc. may face challenges in adapting to this changing energy landscape.
  • Investing in Cenovus Energy Inc. involves exposure to various financial risks, such as interest rate fluctuations, currency exchange rate movements, and credit risks. These risks should be carefully considered by investors.














CVE Stock Analysis - Frequently Asked Questions

Should I buy or sell Cenovus Energy stock right now?

11 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Cenovus Energy in the last year. There are currently 2 hold ratings, 8 buy ratings and 1 strong buy rating 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 target for 2024?

11 Wall Street analysts have issued twelve-month price targets for Cenovus Energy's shares. Their CVE share price targets range from C$29.00 to C$37.00. On average, they anticipate the company's share price to reach C$32.97 in the next year. This suggests a possible upside of 37.5% 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 2023?

Cenovus Energy's stock was trading at C$26.27 on January 1st, 2023. Since then, CVE shares have decreased by 8.7% and is now trading at C$23.98.
View the best growth stocks for 2023 here.

When is Cenovus Energy's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, February 15th 2024.
View our CVE earnings forecast.

How were Cenovus Energy's earnings last quarter?

Cenovus Energy Inc. (TSE:CVE) issued its earnings results on Thursday, November, 2nd. The company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $0.12. The firm had revenue of $14.58 billion for the quarter, compared to analysts' expectations of $13.34 billion. Cenovus Energy had a net margin of 7.81% and a trailing twelve-month return on equity of 14.66%.

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

Cenovus Energy announced a quarterly dividend on Thursday, November 2nd. Shareholders of record on Friday, December 15th will be given a dividend of 0.14 per share on Friday, December 29th. This represents a $0.56 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Thursday, December 14th.
Read our dividend analysis for CVE.

Is Cenovus Energy a good dividend stock?

Cenovus Energy (TSE:CVE) pays an annual dividend of C$0.56 per share and currently has a dividend yield of 2.32%. The dividend payout ratio is 26.29%. This payout ratio is at a healthy, sustainable level, below 75%.
Read our dividend analysis for CVE.

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 Intact Financial (IFC), Constellation Software (CSU), AutoCanada (ACQ), Alimentation Couche-Tard (ATD.B), Vermilion Energy (VET), Air Canada (AC), AbbVie (ABBV), Toronto-Dominion Bank (TD), Intelsat (I) and Bank of America (BAC).

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.

This page (TSE:CVE) was last updated on 11/29/2023 by MarketBeat.com Staff

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