Should I buy or sell Cenovus Energy stock right now?

9 Wall Street equities research 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 equities research 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 twelve-month target prices for Cenovus Energy's shares. Their CVE share price targets range from C$28.00 to C$37.00. On average, they expect the company's share price to reach C$32.19 in the next year. This suggests a possible upside of 13.1% 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 stock has increased by 28.9% and is now trading at C$28.46. 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) issued its quarterly 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 analyst estimates 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 quarter in the prior year, the business earned $0.39 EPS.

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 paid a dividend of 0.14 per share on Thursday, March 28th. This represents a $0.56 annualized dividend and a yield of 1.97%. 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 1.94%. 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 .

TSE:CVE

Cenovus Energy (CVE) Stock Price, News & Analysis

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Free CVE Stock Alerts

C$28.46

-0.10 (-0.35%)

(As of 05:18 PM ET)

Compare

Today's Range: C$28.23
▼
C$28.92
50-Day Range: C$21.84
▼
C$29.81
52-Week Range: C$19.82
▼
C$29.96

Volume: 4.37 million shs
Average Volume: 4.71 million shs
Market Capitalization: C$53.22 billion

P/E Ratio: 13.42
Dividend Yield: 1.97%
Price Target: C$32.19

Stock Analysis Analyst Forecasts Chart Competitors Dividend Earnings Headlines Insider Trades

Get Cenovus Energy alerts:

Cenovus Energy MarketRank™ Stock Analysis

Analyst Rating: Moderate Buy
2.89 Rating Score
Upside/Downside: 13.1% Upside
C$32.19 Price Target
Short Interest: N/A
Dividend Strength: Weak
Based on Four Factors
Sustainability: N/A
News Sentiment: 1.19
Based on 6 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.

3.84 out of 5 stars

2.4

Analyst's Opinion

Consensus Rating
Cenovus Energy has received a consensus rating of Moderate Buy. The company's average rating score is 2.89, and is based on 8 buy ratings, 1 hold rating, and no sell ratings.
Amount of Analyst Coverage
Cenovus Energy has only been the subject of 3 research reports in the past 90 days.

N/A

Short Interest

Short Interest
There is no current short interest data available for CVE.

1.7

Dividend Strength

Dividend Yield
Cenovus Energy pays a meaningful dividend of 1.94%, higher than the bottom 25% of all stocks that pay dividends.
Dividend Growth
Cenovus Energy does not have a long track record of dividend growth.
Dividend Coverage
The dividend payout ratio of Cenovus Energy is 26.42%. This payout ratio is at a healthy, sustainable level, below 75%.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for CVE.

4.0

News and Social Media Coverage

News Sentiment
Cenovus Energy has a news sentiment score of 1.19. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.42 average news sentiment score of Energy companies.
News Coverage This Week
MarketBeat has tracked 6 news articles for Cenovus Energy this week, compared to 3 articles on an average week.
Search Interest
37 people have searched for CVE on MarketBeat in the last 30 days. This is an increase of 9% compared to the previous 30 days.
MarketBeat Follows
9 people have added Cenovus Energy to their MarketBeat watchlist in the last 30 days. This is an increase of 13% compared to the previous 30 days.

4.2

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Cenovus Energy insiders have sold 105.58% more of their company's stock than they have bought. Specifically, they have bought C$1,174,500.00 in company stock and sold C$2,414,507.00 in company stock.
Percentage Held by Insiders
31.50% of the stock of Cenovus Energy is held by insiders. A high percentage of insider ownership can be a sign of company health.
Percentage Held by Institutions
55.47% of the stock of Cenovus Energy is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

2.5

Earnings and Valuation

Price to Earnings Ratio vs. the Market
The P/E ratio of Cenovus Energy is 13.42, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 142.12.
Price to Earnings Ratio vs. Sector
The P/E ratio of Cenovus Energy is 13.42, which means that it is trading at a less expensive P/E ratio than the Energy sector average P/E ratio of about 97.53.
Price to Earnings Growth Ratio
Cenovus Energy has a PEG Ratio of 0.09. PEG Ratios below 1 indicate that a company could be undervalued.
Price to Book Value per Share Ratio
Cenovus Energy has a P/B Ratio of 1.89. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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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

30 days | 90 days | 365 days | Advanced Chart

CVE Stock News Headlines

April 9, 2024 | insidertrades.com

Insider Selling: Cenovus Energy Inc. (TSE:CVE) Senior Officer Sells 18,000 Shares of Stock

April 8, 2024 | insidertrades.com

Cenovus Energy Inc. (TSE:CVE) Senior Officer Sells C$697,332.00 in Stock

April 18, 2024 | DTI (Ad)

Biden’s $374B Giveaway Into This Sector

Biden’s Climate Bill Could Send Your Retirement Accounts Soaring – Or Diving See what this $374B giveaway could mean for your retirement right here

March 27, 2024 | insidertrades.com

Cenovus Energy Inc. (TSE:CVE) Senior Officer Andrew Dahlin Sells 20,000 Shares

March 22, 2024 | insidertrades.com

Andrew Dahlin Sells 25,000 Shares of Cenovus Energy Inc. (TSE:CVE) Stock

April 16, 2024 | americanbankingnews.com

Cenovus Energy Inc. (TSE:CVE) Given Average Rating of "Moderate Buy" by Brokerages

April 14, 2024 | finance.yahoo.com

Bullish Cenovus Energy Insiders Loaded Up On CA$6.81m Of Stock

April 14, 2024 | americanbankingnews.com

Jefferies Financial Group Increases Cenovus Energy (TSE:CVE) Price Target to C$36.00

April 18, 2024 | DTI (Ad)

Biden’s $374B Giveaway Into This Sector

Biden’s Climate Bill Could Send Your Retirement Accounts Soaring – Or Diving See what this $374B giveaway could mean for your retirement right here

April 14, 2024 | msn.com

Cenovus Energy to invest $1.5 billion in Ohio refineries over next 5 years

April 11, 2024 | theglobeandmail.com

Cenovus Energy to reportedly invest $1.5-billion in Ohio refineries

April 11, 2024 | ca.finance.yahoo.com

Cenovus Energy to invest $1.5 billion in Ohio refineries - local media

April 11, 2024 | finance.yahoo.com

UPDATE 1-Cenovus Energy to invest $1.5 billion in Ohio refineries - local media

April 10, 2024 | americanbankingnews.com

Cenovus Energy (TSE:CVE) Given New C$32.00 Price Target at Royal Bank of Canada

April 5, 2024 | finance.yahoo.com

15 Best Energy Stocks To Buy Now

March 24, 2024 | finance.yahoo.com

Institutional investors have a lot riding on Cenovus Energy Inc. (TSE:CVE) with 53% ownership

March 23, 2024 | markets.businessinsider.com

Desjardins Reaffirms Their Buy Rating on Cenovus Energy (CVE)

March 21, 2024 | finance.yahoo.com

CVE Mar 2024 19.000 put

March 15, 2024 | msn.com

Experts slam carbon capture as clock ticks on Alberta's $16.5B mega project

March 12, 2024 | msn.com

US stocks climb on tech-led rally as inflation data leaves rate-cut bets intact

March 5, 2024 | theglobeandmail.com

Canadian oil producer Cenovus Energy plans to boost production 19% in next five years

March 5, 2024 | msn.com

Cenovus Energy sees production rising by 19% in five years

March 5, 2024 | ca.finance.yahoo.com

Canadian oil producer Cenovus to boost production 19% in five years

March 2, 2024 | finance.yahoo.com

CVE Mar 2024 16.500 call

February 26, 2024 | msn.com

2 No-Brainer Energy Stocks to Buy With $5000 Right Now

February 23, 2024 | msn.com

Cenovus Energy raised to Buy at UBS as 'shareholder return inflection' nears

February 23, 2024 | theglobeandmail.com

Friday’s Insider Report: CEO invests over $1-million in this energy stock

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

Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange: TSE
Sector: Energy
Industry: Oil & Gas Integrated
Sub-Industry: N/A
Current Symbol: TSE:CVE
CUSIP: N/A
CIK: N/A
Web: www.cenovus.com
Phone: +1-403-7662000
Fax: N/A
Employees: 6,925
Year Founded: N/A

Price Target and Rating

Average Stock Price Target: C$32.19
High Stock Price Target: C$37.00
Low Stock Price Target: C$28.00
Potential Upside/Downside: +12.0%
Consensus Rating: Moderate Buy
Rating Score (0-4): 2.89
Research Coverage: 9 Analysts

Profitability

EPS (Most Recent Fiscal Year): C$2.12
Trailing P/E Ratio: 13.56
Forward P/E Ratio: 10.69
P/E Growth: 0.09
Net Income: C$4.07 billion
Net Margins: 7.87%
Pretax Margin: N/A
Return on Equity: 14.60%
Return on Assets: 6.16%

Debt

Debt-to-Equity Ratio: 34.64
Current Ratio: 1.56
Quick Ratio: 1.00

Sales & Book Value

Annual Sales: C$52.20 billion
Price / Sales: 1.03
Cash Flow: C$2.10 per share
Price / Cash Flow: 13.71
Book Value: C$15.05 per share
Price / Book: 1.91

Miscellaneous

Outstanding Shares: 1,870,000,000
Free Float: N/A
Market Cap: C$53.76 billion
Optionable: Not Optionable
Beta: 2.78

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Key Executives

Mr. Alexander J. Pourbaix (Age 58)
Executive Chair
Comp: $3.26M
Mr. Jonathan M. McKenzie CA (Age 56)
President, CEO & Non-Independent Director
Comp: $1.51M
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

Key Competitors

View All Competitors

Insiders

View All Insider Transactions

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 revenue streams.
Recent price target updates suggest potential growth opportunities for investors.
Cenovus Energy's focus on developing, producing, refining, and marketing crude oil, natural gas, and refined petroleum products positions it well in the energy sector.
The company's strategic locations in Canada and internationally offer geographical diversification and access to different markets.

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 the company to fluctuations in commodity markets.
Competitive pressures within the energy sector could impact Cenovus Energy's market position and margins.
Global economic conditions and geopolitical factors may influence the demand for energy products, affecting Cenovus Energy's revenue.

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?: 9 Wall Street equities research 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 equities research 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 twelve-month target prices for Cenovus Energy's shares. Their CVE share price targets range from C$28.00 to C$37.00. On average, they expect the company's share price to reach C$32.19 in the next year. This suggests a possible upside of 13.1% 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 stock has increased by 28.9% and is now trading at C$28.46.
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) issued its quarterly 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 analyst estimates 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 quarter in the prior year, the business earned $0.39 EPS.

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 paid a dividend of 0.14 per share on Thursday, March 28th. This represents a $0.56 annualized dividend and a yield of 1.97%. 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 1.94%. 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 4/18/2024 by MarketBeat.com Staff

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Cenovus Energy (CVE) Stock Price, News & Analysis

Cenovus Energy MarketRank™ Stock Analysis

Overall MarketRank™

Analyst's Opinion

Short Interest

Short Interest

Dividend Strength

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score

News and Social Media Coverage

News Sentiment

News Coverage This Week

Search Interest

MarketBeat Follows

Company Ownership

Earnings and Valuation

About Cenovus Energy Stock (TSE:CVE)

CVE Stock Price History

CVE Stock News Headlines

Company Calendar

Industry, Sector and Symbol

Price Target and Rating

Profitability

Debt

Sales & Book Value

Miscellaneous

Key Executives

Key Competitors

Insiders

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

Pros

Cons

CVE Stock Analysis - Frequently Asked Questions

Overall MarketRank^™