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Cenovus Energy Inc.

CVE · NYSE

Market closed$27.95$0.720000 (+2.64%)After hours $28.00 · +0.18%

Key statistics

Previous close$27.23
Open$27.93
Day high$28.09
Day low$27.54
52-week high$32.07
52-week low$13.99
Market cap52.12B
Volume4.74M
Average volume8.15M
P/E ratio15.36
Forward P/E—
EPS1.82
Dividend yield+2.09%

Market context

Why it moved

Cenovus Energy's stock moved higher today following an analyst upgrade by Desjardins to a "moderate buy" rating, reinforcing a broadly positive analyst consensus driven by the company's recent better-than-expected quarterly earnings and revenue results, along with a dividend increase.

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What is happening

Recent company-specific developments and publisher coverage.

July 18, 2026Cenovus Energy rose nearly 3%, outperforming the broader market as energy led all S&P 500 sectors higher amid a 3% jump in oil prices to $81.35. Analysts highlighted CVE as a top pick, with Desjardins reiterating a Buy and C$50 price target and Scotiabank raising its target to C$49, citing commodity tailwinds and structurally elevated crack spreads for integrated producers. Options market activity also drew attention, while the stock trades at a discount to peers on EV/EBITDA despite strong Q1 results — 83% profit growth driven by the MEG acquisition — and a recently raised quarterly dividend.

2.6441

July 17, 2026Cenovus Energy closed modestly lower as investors weigh a broadly favorable macro backdrop against near-term uncertainty. Middle East conflict has driven WTI crude back toward $80/barrel and boosted refining margins — a tailwind for Cenovus' integrated model — while TotalEnergies flagged strong oil trading but weaker LNG results, underscoring the bifurcated energy environment. Analysts remain broadly constructive with a consensus Buy rating and a $35.25 average price target, well above current levels, supported by Q1 results that beat on both EPS ($0.61 vs. $0.56 est.) and revenue ($10.79B vs. $9.47B est.), and a recent dividend hike to $0.22/quarter. Key growth projects including Christina Lake North and the path to 1 million BOE/d by 2028 continue to underpin the longer-term investment thesis.

-0.4751

July 16, 2026Cenovus Energy closed modestly lower as Middle East geopolitical tensions — including the collapse of a US-Iran peace deal and renewed Strait of Hormuz disruptions — pushed crude prices higher but weighed on integrated energy stocks' refining margins outlook. Investor focus remains on the company's strong Q1 results (EPS of $0.61 vs. $0.56 estimate, revenue of $10.79B vs. $9.47B expected), a raised quarterly dividend to $0.22/share, and analyst consensus Buy rating with a $35.25 average price target — well above current levels.

-0.5453

July 15, 2026Cenovus Energy closed modestly lower, giving back a small portion of Monday's 4.6% rally, as crude strength and geopolitical tailwinds from U.S.-Iran tensions continued to support the integrated oil sands producer. Investor sentiment remains broadly constructive following Q1 results that showed an 83% profit surge, record upstream production of 972,100 boepd boosted by the MEG Energy acquisition, a 10% dividend hike to $0.22/share, and a beat on both EPS ($0.61 vs. $0.56 est.) and revenue ($10.79B vs. $9.47B est.). Analysts carry a consensus Buy rating with a $35.25 average price target, well above current levels, while multiple institutional investors have been adding to positions.

-0.3622

July 14, 2026Cenovus Energy shares surged ~4.6%, riding a broad energy sector rally fueled by escalating U.S.-Iran tensions and renewed Strait of Hormuz supply disruption fears, which pushed Brent crude back above $76/barrel. The move was reinforced by company-specific tailwinds: Cenovus recently reported an 83% jump in Q1 profit driven by higher crude prices, strong refining margins, and record upstream production of 972,100 BOE/d following its MEG Energy integration — while also signing onto the Pathways carbon capture project. Jefferies reiterated a Buy rating with a $34.51 price target, and Zacks carries a Rank #2 (Buy), adding to bullish sentiment as Q2 earnings season begins with energy expected to be a key sector driver.

4.5833

July 11, 2026Cenovus Energy closed higher, extending a powerful multi-day rally fueled by geopolitical-driven crude oil gains and renewed investor enthusiasm for the Canadian integrated producer. Escalating Middle East tensions following Trump's remarks on Iran drove Brent crude sharply higher earlier this week, lifting the entire energy sector and directly benefiting Cenovus's oil sands operations. Investor sentiment is additionally supported by strong Q1 2026 results—record upstream production, a 10% dividend increase, and nearly doubling EPS year-over-year—while the MEG Energy acquisition continues to drive operating margin improvements. Analysts at Scotiabank hold a Sector Outperform rating, Zacks rates CVE a #1 Strong Buy with 96% projected EPS growth, and Weiss Ratings upgraded the stock to Buy on July 7.

1.6166

July 10, 2026Cenovus Energy declined despite a strong recent run, as broader market weakness and profit-taking weighed on energy shares after oil's surge earlier in the week. Trump's declaration that the U.S.-Iran ceasefire was "over" sent crude prices sharply higher on July 8-9, initially lifting oil producers, but broader equity markets sold off on inflation and rate concerns, dragging CVE lower. The pullback follows an exceptional 85% one-year gain and comes as investors weigh Cenovus's strong Q1 results — record upstream production, 96% expected earnings growth for the year, and MEG Energy acquisition synergies — against renewed commodity volatility and macro uncertainty.

-2.4409

July 9, 2026Cenovus Energy surged on Wednesday as President Trump's declaration that the interim Iran ceasefire deal was 'over' sent crude oil prices jumping more than 5%, triggering a broad energy sector rally even as broader markets sold off. The geopolitical shock amplified an already constructive backdrop for CVE, which had gained 3.5% the prior session on rising oil prices and carried strong momentum from its Q1 beat — adjusted EPS of $0.61 surpassed estimates by nearly 9%, with record upstream production and an expected earnings growth rate of ~96% for 2026.

5.6327

MarketBeat · July 18, 2026Cenovus Energy (TSE:CVE) Upgraded at DesjardinsSimply Wall Street · July 17, 2026Could Cenovus Energy (TSX:CVE) Be 15% Undervalued After Growth Project Progress?TradingView · July 14, 2026Will Cenovus' Key Growth Projects Support Its Long-Term Outlook?Stock Titan · May 6, 2026Cenovus sends $1B to shareholders after record oil productionEnergyNow.com · May 6, 2026Canada’s Cenovus Profit Soars 83% as MEG Deal Boosts Output, Raises DividendMoomoo · January 29, 2026Goldman Sachs Maintains Cenovus Energy(CVE.US) With Buy Rating, Raises Target Price to $22
Benzinga · July 17, 2026Scotiabank Maintains Sector Outperform on Cenovus Energy, Raises Price Target to C$49
Mt Newswire · June 26, 2026Cenovus Energy Awards 5-Year White Rose Engineering, Maintenance Contract to Aker Solutions
Mt Newswire · May 25, 2026Market Chatter: Oil Sands Firms Can Afford Carbon Capture, Canadian Energy Minister Says
Benzinga · May 20, 2026Scotiabank Maintains Sector Outperform on Cenovus Energy, Raises Price Target to C$47
Mt Newswire · May 19, 2026Cenovus Energy's Addition of Christina Lake Asset Should Yield Development Synergies for Decades, RBC Says
Benzinga · May 19, 2026RBC Capital Maintains Outperform on Cenovus Energy, Raises Price Target to C$47
Mt Newswire · May 19, 2026RBC Raises Price Target on Cenovus Energy to CA$47 From CA$45, Keeps Outperform Rating
Benzinga · May 7, 2026Scotiabank Maintains Sector Outperform on Cenovus Energy, Raises Price Target to C$44

Peers

S&P 500SPX · $7,457.69-1.01%Canadian Natural Resources LimitedCNQ · $43.89+2.40%Suncor Energy Inc.SU · $62.43+2.88%Imperial Oil LimitedIMO · $122.52+2.30%Ovintiv Inc.OVV · $57.79+2.37%ConocoPhillipsCOP · $114.71+1.66%EOG Resources, Inc.EOG · $139.89+1.03%Phillips 66PSX · $206.86+2.75%Equinor ASAEQNR · $37.37+4.88%Repsol, S.A.REP.MC · €24.50+1.45%Ecopetrol S.A.EC · $16.09+1.84%YPF Sociedad AnónimaYPF · $49.68+2.54%