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S&P 500   5,248.49
DOW   39,760.08
QQQ   444.83
Stock market today: Asian shares meander after S&P 500 sets another record
The Most Bought AI Stock by Congress Isn’t NVIDIA
5 Dividend Kings Stocks to Load Up on Now
Chinese leader Xi issues a positive message at a meeting with US business leaders as ties improve
Palantir Technologies: Bearish Sentiment, Bullish Chart Signals
Mid-Cap Stocks to Outperform the Market This Cycle
Is DraftKings A Good Bet Ahead of Q1 Earnings?
S&P 500   5,248.49
DOW   39,760.08
QQQ   444.83
Stock market today: Asian shares meander after S&P 500 sets another record
The Most Bought AI Stock by Congress Isn’t NVIDIA
5 Dividend Kings Stocks to Load Up on Now
Chinese leader Xi issues a positive message at a meeting with US business leaders as ties improve
Palantir Technologies: Bearish Sentiment, Bullish Chart Signals
Mid-Cap Stocks to Outperform the Market This Cycle
Is DraftKings A Good Bet Ahead of Q1 Earnings?
S&P 500   5,248.49
DOW   39,760.08
QQQ   444.83
Stock market today: Asian shares meander after S&P 500 sets another record
The Most Bought AI Stock by Congress Isn’t NVIDIA
5 Dividend Kings Stocks to Load Up on Now
Chinese leader Xi issues a positive message at a meeting with US business leaders as ties improve
Palantir Technologies: Bearish Sentiment, Bullish Chart Signals
Mid-Cap Stocks to Outperform the Market This Cycle
Is DraftKings A Good Bet Ahead of Q1 Earnings?
TSE:CVE

Cenovus Energy (CVE) Stock Price, News & Analysis

C$26.93
-0.09 (-0.33%)
(As of 03/27/2024 ET)
Today's Range
C$26.67
C$27.01
50-Day Range
C$20.06
C$27.02
52-Week Range
C$19.82
C$29.18
Volume
2.89 million shs
Average Volume
4.73 million shs
Market Capitalization
C$50.36 billion
P/E Ratio
12.70
Dividend Yield
2.08%
Price Target
C$31.25

Cenovus Energy MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.89 Rating Score
Upside/​Downside
16.0% Upside
C$31.25 Price Target
Short Interest
N/A
Dividend Strength
Weak
Based on Four Factors
Sustainability
N/A
News Sentiment
0.69mentions of Cenovus Energy in the last 14 days
Based on 11 Articles This Week
Insider Trading
Balanced
Insiders Both Buying and Selling
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.

4.34 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

4x Better than Bitcoin
4x Better than Bitcoin Bitcoin would have to go from $68,000 to $314,000 to match the 463% gains we saw with Immunogen in December.
Desjardins Reaffirms Their Buy Rating on Cenovus Energy (CVE)
4x Better than Bitcoin
4x Better than Bitcoin Bitcoin would have to go from $68,000 to $314,000 to match the 463% gains we saw with Immunogen in December.
CVE Mar 2024 19.000 put
CVE Mar 2024 16.500 call
CVE Feb 2024 12.000 put
Cenovus Energy Q4 Results Top Estimates; Declares Dividend
See More Headlines
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Company Calendar

Ex-Dividend for 12/29 Dividend
12/14/2023
Dividend Payable
12/29/2023
Last Earnings
2/15/2024
Ex-Dividend for 3/28 Dividend
3/14/2024
Today
3/27/2024
Dividend Payable
3/28/2024
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$31.25
High Stock Price Target
C$37.00
Low Stock Price Target
C$28.00
Potential Upside/Downside
+16.0%
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$1.96 per share
Book Value
C$15.05 per share

Miscellaneous

Outstanding Shares
1,870,000,000
Free Float
N/A
Market Cap
C$50.36 billion
Optionable
Not Optionable
Beta
2.79
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Key Executives

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 Tuesday, March 26, 2024 at 10:12 PM.

Pros

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

  • Cenovus Energy Inc. has a diversified portfolio operating through various segments including Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining, which provides exposure to different aspects of the energy industry.
  • The company's focus on developing and producing bitumen and heavy oil in northern Alberta and Saskatchewan positions it well in the oil sands sector, which can offer significant growth potential.
  • Recent developments in the company's operations, such as advancements in refining processes and exploration activities, indicate a commitment to innovation and efficiency, potentially leading to improved financial performance.
  • With the current stock price showing stability and potential for growth, investors may find Cenovus Energy Inc. shares attractive for their investment portfolios.
  • Cenovus Energy Inc.'s presence in both Canadian and international markets provides geographic diversification, reducing exposure to regional risks and enhancing global market opportunities.

Cons

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

  • The volatility in crude oil and natural gas prices can significantly impact Cenovus Energy Inc.'s financial performance, making it susceptible to fluctuations in commodity markets.
  • Environmental concerns surrounding oil sands extraction and refining processes could lead to regulatory challenges and increased operational costs for Cenovus Energy Inc., affecting profitability.
  • Dependence on the oil and gas industry exposes Cenovus Energy Inc. to risks associated with energy transitions and shifts towards renewable energy sources, potentially impacting long-term sustainability.
  • Market competition and geopolitical factors may pose challenges to Cenovus Energy Inc.'s growth strategies and market positioning, affecting its ability to capture market share and maintain profitability.
  • Macroeconomic factors such as global economic conditions, geopolitical tensions, and regulatory changes can influence the overall performance of Cenovus Energy Inc., introducing uncertainties for investors.

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 year. 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 brokerages have issued 12-month price objectives for Cenovus Energy's shares. Their CVE share price targets range from C$28.00 to C$37.00. On average, they predict the company's stock price to reach C$31.25 in the next twelve months. This suggests a possible upside of 16.0% 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 the year. Since then, CVE shares have increased by 22.0% and is now trading at C$26.93.
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) released its earnings results on Thursday, February, 15th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.06. The firm had revenue of $13.13 billion for the quarter, compared to the consensus estimate of $13.06 billion. Cenovus Energy had a net margin of 7.87% and a trailing twelve-month return on equity of 14.60%. During the same period last year, the company earned $0.39 EPS.

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

Cenovus Energy declared a quarterly dividend on Thursday, March 14th. Stockholders of record on Thursday, March 28th will be paid a dividend of 0.14 per share on Thursday, March 28th. This represents a $0.56 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend 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 3/28/2024 by MarketBeat.com Staff

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