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Cenovus Energy (CVE) Stock Price, News & Analysis

$20.66
-0.04 (-0.19%)
(As of 04:35 PM ET)
Today's Range
$20.48
$21.03
50-Day Range
$16.23
$21.80
52-Week Range
$14.69
$21.90
Volume
9.36 million shs
Average Volume
11.56 million shs
Market Capitalization
$38.53 billion
P/E Ratio
13.08
Dividend Yield
1.98%
Price Target
$26.67

Cenovus Energy MarketRank™ Stock Analysis

Analyst Rating
Buy
3.00 Rating Score
Upside/​Downside
29.5% Upside
$26.67 Price Target
Short Interest
Healthy
2.24% of Float Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-8.62
Upright™ Environmental Score
News Sentiment
1.13mentions of Cenovus Energy in the last 14 days
Based on 7 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
20.44%
From $1.81 to $2.18 Per Share

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.

4.63 out of 5 stars

Oils/Energy Sector

16th out of 234 stocks

Crude Petroleum & Natural Gas Industry

5th out of 75 stocks

CVE stock logo

About Cenovus Energy Stock (NYSE:CVE)

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

CVE Stock Price History

CVE Stock News Headlines

Cenovus Energy (CVE) Surged on WTI Oil Price Increase
AI “wealth window” is closing soon!
Today, I’m making my boldest prediction ever. Next-generation AI technology will create the first $100 TRILLION industry.
AI “wealth window” is closing soon!
Today, I’m making my boldest prediction ever. Next-generation AI technology will create the first $100 TRILLION industry.
Cenovus Energy: My Top Pick Among Canadian Majors
Cenovus Energy Stock Sees Improved Relative Strength
CVE Mar 2024 19.500 put
CVE Mar 2024 15.000 put
CVE Mar 2024 9.000 call
CVE Mar 2024 24.000 call
Cenovus to webcast Investor Day 2024
CVE Feb 2024 21.500 call
CVE Feb 2024 18.000 call
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
4/18/2024
Next Earnings (Estimated)
4/24/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Industry
Crude petroleum & natural gas
Sub-Industry
N/A
Employees
6,925
Year Founded
2009

Price Target and Rating

Average Stock Price Target
$26.67
High Stock Price Target
$30.00
Low Stock Price Target
$22.00
Potential Upside/Downside
+27.5%
Consensus Rating
Buy
Rating Score (0-4)
3.00
Research Coverage
5 Analysts

Profitability

Net Income
$3.04 billion
Pretax Margin
9.65%

Debt

Sales & Book Value

Annual Sales
$38.67 billion
Cash Flow
$3.51 per share
Book Value
$11.16 per share

Miscellaneous

Outstanding Shares
1,865,110,000
Free Float
N/A
Market Cap
$39.00 billion
Optionable
Optionable
Beta
2.15

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Key Executives

  • Mr. Alexander J. Pourbaix (Age 58)
    Executive Chair
    Comp: $2.4M
  • Mr. Jonathan M. McKenzie CA (Age 56)
    President, CEO & Non-Independent Director
    Comp: $1.11M
  • Mr. Keith A. Chiasson
    Executive VP & COO
  • Mr. Joseph Drew Zieglgansberger
    Executive VP & Chief Commercial Officer
  • Mr. Jeffrey Ryan Hart
    Executive Vice-President of Corporate & Operations Services
  • Mr. Kam S. Sandhar CA
    Executive VP of Strategy & CFO
  • Mr. Jason Abbate
    Senior Vice President of Investor Relations
  • Mr. Gary Frederick Molnar
    Senior VP of Legal, General Counsel & Corporate Secretary
  • Mr. Jeffery G. Lawson LLB (Age 55)
    Senior VP of Corporate Development
  • Ms. Susan M. Anderson
    Senior Vice-President of People Services

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 has a diversified portfolio operating in various segments including Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining, reducing risk exposure.
  • Recent price target updates suggest potential growth opportunities, with analysts raising price objectives for the stock.
  • Cenovus Energy's focus on developing, producing, and refining crude oil, natural gas, and petroleum products positions it well in the energy sector.
  • The company's strategic locations in Canada and internationally provide access to different markets, enhancing revenue potential.

Cons

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

  • Volatility in the oil and gas industry can impact Cenovus Energy's financial performance and stock price.
  • Regulatory changes or environmental concerns may affect the company's operations and profitability.
  • Dependency on crude oil prices exposes Cenovus Energy to market fluctuations and economic conditions.
  • Competitive pressures within the energy sector could impact the company's market share and margins.
  • Global geopolitical events or supply chain disruptions may disrupt Cenovus Energy's operations and supply chain.
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 Saturday, April 13, 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?

5 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Cenovus Energy in the last year. There are currently 5 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" CVE shares.
View CVE analyst ratings
or view top-rated stocks.

What is Cenovus Energy's stock price target for 2024?

5 equities research analysts have issued 1-year price targets for Cenovus Energy's stock. Their CVE share price targets range from $22.00 to $30.00. On average, they anticipate the company's stock price to reach $26.67 in the next twelve months. This suggests a possible upside of 29.5% 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 2024?

Cenovus Energy's stock was trading at $16.65 at the beginning of 2024. Since then, CVE stock has increased by 23.7% and is now trading at $20.59.
View the best growth stocks for 2024 here
.

Are investors shorting Cenovus Energy?

Cenovus Energy saw a drop in short interest during the month of March. As of March 15th, there was short interest totaling 28,290,000 shares, a drop of 18.1% from the February 29th total of 34,560,000 shares. Based on an average daily trading volume, of 11,690,000 shares, the days-to-cover ratio is currently 2.4 days. Currently, 2.1% of the company's stock are sold short.
View Cenovus Energy's Short Interest
.

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. (NYSE:CVE) issued its quarterly earnings results on Thursday, February, 15th. The oil and gas company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.25 by $0.04. The oil and gas company earned $9.65 billion during the quarter, compared to analyst estimates of $9.73 billion. Cenovus Energy had a net margin of 7.88% and a trailing twelve-month return on equity of 14.85%. During the same period last year, the company earned $0.29 EPS.

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

Cenovus Energy announced a quarterly dividend on Thursday, February 15th. Stockholders of record on Friday, March 15th will be given a dividend of $0.1033 per share on Thursday, March 28th. This represents a $0.41 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, March 14th. This is a boost from the stock's previous quarterly dividend of $0.10.
Read our dividend analysis for CVE
.

Is Cenovus Energy a good dividend stock?

Cenovus Energy (NYSE:CVE) pays an annual dividend of $0.41 per share and currently has a dividend yield of 2.00%. The dividend payout ratio is 25.95%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, CVE will have a dividend payout ratio of 18.81% 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).

Who are Cenovus Energy's major shareholders?

Cenovus Energy's stock is owned by a number of institutional and retail investors. Top institutional shareholders include Nexus Investment Management ULC (0.09%), Guinness Asset Management LTD (0.04%), Addenda Capital Inc. (0.03%), Foundation Resource Management Inc. (0.02%), Hennessy Advisors Inc. (0.02%) and IMC Chicago LLC (0.00%).

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 Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NYSE:CVE) was last updated on 4/18/2024 by MarketBeat.com Staff

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