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TSE:CVE

Cenovus Energy (CVE) Stock Price, News & Analysis

C$29.32
+0.45 (+1.56%)
(As of 11:15 AM ET)
Today's Range
C$29.16
C$29.65
50-Day Range
C$21.32
C$29.81
52-Week Range
C$19.82
C$29.96
Volume
2.18 million shs
Average Volume
4.57 million shs
Market Capitalization
C$54.83 billion
P/E Ratio
13.83
Dividend Yield
1.91%
Price Target
C$31.58

Cenovus Energy MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.89 Rating Score
Upside/​Downside
9.4% Upside
C$31.58 Price Target
Short Interest
N/A
Dividend Strength
Weak
Based on Four Factors
Sustainability
N/A
News Sentiment
0.99mentions of Cenovus Energy in the last 14 days
Based on 14 Articles This Week
Insider Trading
Selling Shares
C$2.41 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.

3.09 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

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15 Best Energy Stocks To Buy Now
Desjardins Reaffirms Their Buy Rating on Cenovus Energy (CVE)
CVE Mar 2024 19.000 put
CVE Mar 2024 16.500 call
CVE Feb 2024 12.000 put
See More Headlines
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Company Calendar

Last Earnings
2/15/2024
Ex-Dividend for 3/28 Dividend
3/14/2024
Dividend Payable
3/28/2024
Today
4/12/2024
Next Earnings (Estimated)
4/24/2024

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$31.58
High Stock Price Target
C$37.00
Low Stock Price Target
C$28.00
Potential Upside/Downside
+9.4%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.89
Research Coverage
9 Analysts

Profitability

Net Income
C$4.07 billion
Pretax Margin
N/A

Debt

Sales & Book Value

Annual Sales
C$52.20 billion
Cash Flow
C$2.11 per share
Book Value
C$15.05 per share

Miscellaneous

Outstanding Shares
1,870,000,000
Free Float
N/A
Market Cap
C$53.99 billion
Optionable
Not Optionable
Beta
2.79
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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 has received positive ratings from multiple analysts, indicating a favorable outlook for the company.
  • The company operates in various segments including Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining, providing diversification in its operations.
  • Recent price target updates suggest potential growth opportunities for the stock, with analysts raising their price objectives.
  • Cenovus Energy's presence in both Canadian and international markets offers geographic diversification and exposure to different economic conditions.
  • The company's focus on developing, producing, refining, and marketing crude oil, natural gas, and refined petroleum products positions it well in the energy sector.

Cons

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

  • Despite positive ratings, there is always inherent risk in the energy sector due to factors like fluctuating commodity prices and geopolitical uncertainties.
  • The company's operations in different segments may expose it to sector-specific challenges and regulatory changes that could impact its financial performance.
  • Investors should carefully consider the potential impact of environmental regulations and policies on Cenovus Energy's operations and profitability.
  • Market conditions and competition within the oil and gas industry could affect Cenovus Energy's market share and revenue growth.
  • Fluctuations in crude oil prices and global demand for energy products may influence the company's financial results 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 Tuesday, April 9, 2024. Please send any questions or comments about these Cenovus Energy pros and cons to contact@marketbeat.com.

CVE Stock Analysis - Frequently Asked Questions

Should I buy or sell Cenovus Energy stock right now?

9 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Cenovus Energy in the last twelve months. There are currently 1 hold rating and 8 buy ratings 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?

9 equities research analysts have issued 12 month price targets for Cenovus Energy's shares. Their CVE share price targets range from C$28.00 to C$37.00. On average, they anticipate the company's stock price to reach C$31.58 in the next year. This suggests a possible upside of 9.4% 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 2024?

Cenovus Energy's stock was trading at C$22.08 at the beginning of 2024. Since then, CVE shares have increased by 30.8% and is now trading at C$28.87.
View the best growth stocks for 2024 here
.

When is Cenovus Energy's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Wednesday, April 24th 2024.
View our CVE earnings forecast
.

How were Cenovus Energy's earnings last quarter?

Cenovus Energy Inc. (TSE:CVE) posted its quarterly earnings results on Thursday, February, 15th. The company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.06. The business had revenue of $13.13 billion for the quarter, compared to analyst estimates of $13.06 billion. Cenovus Energy had a trailing twelve-month return on equity of 14.60% and a net margin of 7.87%. During the same period in the prior year, the firm earned $0.39 earnings per share.

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

Cenovus Energy announced a quarterly dividend on Thursday, March 14th. Investors of record on Thursday, March 28th will be given a dividend of 0.14 per share on Thursday, March 28th. This represents a $0.56 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Thursday, March 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 2.08%. The dividend payout ratio is 26.42%. 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 4/12/2024 by MarketBeat.com Staff

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