Scotiabank Upgrades Cenovus Energy (NYSE:CVE) to “Strong-Buy”

Cenovus Energy (NYSE:CVE) (TSE:CVE) was upgraded by equities researchers at Scotiabank from a “hold” rating to a “strong-buy” rating in a research note issued on Friday,Zacks.com reports.

Other analysts also recently issued research reports about the stock. The Goldman Sachs Group reissued a “buy” rating and set a $22.00 target price on shares of Cenovus Energy in a research report on Monday, February 2nd. Zacks Research cut Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 22nd. Wall Street Zen raised Cenovus Energy from a “hold” rating to a “buy” rating in a report on Sunday, February 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cenovus Energy in a research report on Tuesday, January 27th. Finally, Royal Bank Of Canada lifted their price objective on shares of Cenovus Energy from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.33.

Cenovus Energy Trading Down 2.4%

CVE stock opened at $22.58 on Friday. Cenovus Energy has a 12 month low of $10.23 and a 12 month high of $23.39. The firm’s 50-day moving average is $18.65 and its 200 day moving average is $17.57. The company has a market capitalization of $42.44 billion, a PE ratio of 14.75 and a beta of 0.48. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.73 and a quick ratio of 1.18.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Thursday, February 19th. The oil and gas company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.28 by $0.08. The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $10.89 billion. Cenovus Energy had a return on equity of 13.53% and a net margin of 7.92%.During the same period last year, the business posted $0.07 EPS. On average, research analysts anticipate that Cenovus Energy will post 1.49 EPS for the current year.

Hedge Funds Weigh In On Cenovus Energy

A number of large investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors grew its stake in Cenovus Energy by 291.3% during the 3rd quarter. Capital Research Global Investors now owns 106,582,971 shares of the oil and gas company’s stock valued at $1,809,758,000 after acquiring an additional 79,345,506 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Cenovus Energy by 440.8% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 15,414,179 shares of the oil and gas company’s stock worth $260,797,000 after purchasing an additional 12,564,179 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Cenovus Energy by 322.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 15,521,050 shares of the oil and gas company’s stock worth $211,338,000 after purchasing an additional 11,849,355 shares during the last quarter. FIL Ltd grew its position in shares of Cenovus Energy by 40.0% in the fourth quarter. FIL Ltd now owns 38,533,059 shares of the oil and gas company’s stock valued at $651,880,000 after purchasing an additional 11,019,212 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of Cenovus Energy by 46.7% in the third quarter. Mackenzie Financial Corp now owns 30,643,806 shares of the oil and gas company’s stock valued at $520,196,000 after purchasing an additional 9,753,134 shares during the last quarter. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Cenovus Energy News Roundup

Here are the key news stories impacting Cenovus Energy this week:

• Positive Sentiment: Q4 earnings beat and margin improvement: Cenovus reported Q4 EPS above consensus ($0.36 vs. $0.28) and showed stronger margins versus a year ago — a primary reason shares initially rallied after the report. Zacks: Q4 Earnings Top Estimates
• Positive Sentiment: Strong cash flow, production and throughput: Management reported roughly $2.4B cash from operations, $2.7B adjusted funds flow and ~$1.3B free funds flow, plus record upstream production and high downstream utilization — all supportive of dividends, buybacks and deleveraging. GlobeNewswire: Q4 and FY2025 Results
• Positive Sentiment: One‑time currency gain helped results: Cenovus recorded an approximately C$800M annual currency gain that magnified year‑over‑year comparisons, improving reported profitability despite weaker realized prices. Seeking Alpha: Currency Gain Magnifies Quarter
• Positive Sentiment: Dividend declared: Cenovus announced a quarterly dividend of $0.20/share (ex‑dividend March 13), providing ~3.5% yield which supports income‑oriented investors and can underpin the share price. GlobeNewswire: Q4 Release (dividend)
• Neutral Sentiment: Analyst mix and institutional flows: Analysts remain skewed bullish (several Outperform/Buy ratings and a median target near $28) but institutions reported large, mixed portfolio moves — a source of volatility but not a clear directional signal. QuiverQuant: Earnings recap & holdings
• Negative Sentiment: Valuation and oil sensitivity concerns: A Zacks piece warns CVE is near its 52‑week high after a ~58% run, noting rising valuation and sensitivity to weakening WTI forecasts as a near‑term downside risk for the stock. Zacks: Valuation Caution
• Negative Sentiment: Zacks Rank moved CVE to Strong Sell list: Zacks added CVE to its Rank #5 list on Feb 19, which can pressure sentiment and trigger short‑term selling by quantitatively driven funds. Zacks: New Strong Sell Stocks

Cenovus Energy Company Profile

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.