Based on ratings from 14 stock analysts, the Cenovus Energy Inc stock price is expected to increase by 36.71% in 12 months. This is calculated by using the average 12-month stock price forecast for Cenovus Energy Inc. The lowest target is $20.11 and the highest is $24.43. Please note analyst price targets are not guaranteed and could be missed completely.
CVE is a stock in Energy which has been forecasted to be worth $22.12 as an average. On the higher end, the forecast price is $24.43 USD by from and on the lower end CVE is forecasted to be $20.11 by from .
These are the latest 20 analyst ratings of CVE.
Analyst/Firm |
Rating |
Price Target |
Change |
Date |
---|---|---|---|---|
Randy Ollenberger BMO Capital | Outperform | $28 | Maintains | Nov 1, 2024 |
Randy Ollenberger BMO Capital | Outperform | $31 | Maintains | Oct 4, 2024 |
Jason Bouvier Scotiabank | Sector Outperform | $34 | Maintains | Jul 12, 2024 |
Benny Wong Morgan Stanley | Overweight | $30 | Maintains | Mar 28, 2024 |
Greg Pardy RBC Capital | Outperform | $28 | Reiterates | Jan 26, 2024 |
Travis Wood National Bank Financial Inc | Outperform | $33 | Maintains | Jun 29, 2023 |
Goldman Sachs | Buy | Upgrade | Jun 6, 2023 | |
RBC Capital | Outperform | Reiterates | Jun 1, 2023 | |
Gregory Pardy RBC Capital | Outperform | $28 | Reiterates | May 30, 2023 |
Gregory Pardy RBC Capital | Outperform | $28 | Maintains | Apr 27, 2023 |
Neil Mehta Goldman Sachs | Neutral | $23 | Downgrade | Nov 21, 2022 |
William Janela Credit Suisse | Outperform | $37 | Assumes | Aug 11, 2022 |
Manav Gupta Credit Suisse | Outperform | $37 | Maintains | Jun 9, 2022 |
Goldman Sachs | Buy | $24 | Maintains | May 20, 2022 |
Goldman Sachs | Buy | $12.5 | Maintains | Sep 28, 2021 |
JP Morgan | Underweight | Downgrade | Oct 1, 2020 | |
AltaCorp Capital | Outperform | Upgrade | Oct 7, 2019 | |
UBS | Neutral | $13 | Maintains | Oct 3, 2019 |
Goldman Sachs | Buy | Upgrade | Sep 26, 2019 | |
Goldman Sachs | Neutral | Upgrade | Apr 16, 2019 |
When did it IPO
2009
Staff Count
6,925
Country
Canada
Sector/Industry
Energy/Oil & Gas Integrated
CEO
Mr. Jonathan M. McKenzie CA
Market Cap
$29.62B
In 2023, CVE generated $55.47B in revenue, which was a decrease of -22.70% from the previous year. This can be seen as a signal that CVE's business is declining, and its share price could be worth less in the future. However, if the company grows faster (or slower) than expected, this could also have a major impact on the future share price.
Revenue From 2020
Revenue From 2021
Revenue From 2022
Revenue From 2023
Summary - CVE's Q3 earnings missed estimates while revenues exceeded expectations. Both earnings and revenues declined compared to the previous year.
Why It Matters - CVE's Q3 earnings miss forecasts while revenue exceeds expectations, indicating mixed performance. Year-over-year declines may signal underlying challenges, impacting investor sentiment.
Summary - Cenovus Energy (CVE) is positioned for growth with strong reserves, rising U.S. demand, access to Asian markets, and robust cash flow, making it a compelling dividend stock.
Why It Matters - Cenovus Energy's strong reserves, export growth, and strategic integrations enhance profitability and cash flow, positioning it as a robust dividend stock amidst rising demand.
Summary - Cenovus Energy is expected to improve performance as an integrated company, with recent earnings growth and significant cost reduction potential in Heavy Oil and Oil Sands.
Why It Matters - Cenovus Energy's improved performance as an integrated company suggests stronger resilience during downturns, enhancing earnings and growth potential, particularly in Heavy Oil and Oil Sands.
Summary - Cenovus Energy Inc. will hold its Q3 2024 earnings conference call on October 31, 2024, at 10:00 AM ET, featuring key executives and analysts from major financial institutions.
Why It Matters - Cenovus Energy's Q3 earnings call provides insights into financial performance, strategy shifts, and market outlook, influencing investment decisions and stock valuation.
Summary - Cenovus Energy Inc. reported Q3 2024 results: $2.5B cash from operations, $2B adjusted funds flow, and $614M free funds flow, with production at 771,000 BOE/d and increased downstream throughput.
Why It Matters - Cenovus Energy's strong financial results and increased production highlight operational efficiency, potentially boosting investor confidence and stock performance.
Summary - Cenovus Energy (CVE) reported Q3 earnings of $0.31 per share, below the Zacks Consensus Estimate of $0.34 and down from $0.72 per share year-over-year.
Why It Matters - Cenovus Energy's earnings miss and significant year-over-year decline may signal weakening performance, potentially affecting stock price and investor sentiment.