Cenovus Energy (CVE) Stock Forecast & Price Target

$14.42 +0.07 (+0.49%)

(As of 12/20/2024 05:40 PM ET)

Cenovus Energy - Analysts' Recommendations and Stock Price Forecast (2025)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Moderate Buy

Based on 6 Analyst Ratings

Sell
0

Hold
1

Buy
5

Based on 6 Wall Street analysts who have issued ratings for Cenovus Energy in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 6 analysts, 1 has given a hold rating, and 5 have given a buy rating for CVE.

Consensus Price Target

$30.00
108.04% Upside

According to the 6 analysts' twelve-month price targets for Cenovus Energy, the average price target is $30.00. The highest price target for CVE is $34.00, while the lowest price target for CVE is $28.00. The average price target represents a forecasted upside of 108.04% from the current price of $14.42.

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CVE Analyst Ratings Over Time

Type	Current Forecast 12/22/23 to 12/21/24	1 Month Ago 11/22/23 to 11/21/24	3 Months Ago 9/23/23 to 9/22/24	1 Year Ago 12/22/22 to 12/22/23
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	5 Buy rating(s)	5 Buy rating(s)	4 Buy rating(s)	3 Buy rating(s)
Hold	1 Hold rating(s)	1 Hold rating(s)	0 Hold rating(s)	1 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$30.00	$30.00	$30.67	$27.00
Forecasted Upside	108.04% Upside	84.85% Upside	79.23% Upside	61.39% Upside
Consensus Rating	Moderate Buy	Moderate Buy	Buy	Moderate Buy

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CVE Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

CVE Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Cenovus Energy Stock vs. The Competition

Type	Cenovus Energy	Oils/Energy Companies	S&P 500
Consensus Rating Score	2.83	2.63	2.51
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy
Predicted Upside	108.04% Upside	1,671.89% Upside	14.52% Upside
News Sentiment Rating	Positive News See Recent CVE News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
11/1/2024	BMO Capital Markets 4 of 5 stars		Lower Target	Outperform ➝ Outperform	$31.00 ➝ $28.00	+74.13%
10/1/2024	TD Securities 4 of 5 stars	M. Hulshof Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Strong-Buy ➝ Hold
7/12/2024	Scotiabank 5 of 5 stars		Lower Target	Sector Outperform ➝ Sector Outperform	$35.00 ➝ $34.00	+70.85%
5/28/2024	Raymond James Subscribe to MarketBeat All Access for the recommendation accuracy rating	J. Mccrea Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Moderate Buy
3/28/2024	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$28.00 ➝ $30.00	+50.00%
2/23/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Buy
1/26/2024	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Outperform ➝ Outperform	$28.00	+76.66%
6/6/2023	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Buy	$20.00 ➝ $22.00	+29.18%
1/17/2023	CIBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		C$32.00 ➝ C$31.00
1/11/2023	National Bank Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		C$36.00 ➝ C$39.00

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Saturday at 07:34 AM ET.

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

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 Wednesday, December 11, 2024. Please send any questions or comments about these Cenovus Energy pros and cons to contact@marketbeat.com.

Cenovus Energy
Bull Case

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

Cenovus Energy Inc. reported earnings per share of $0.42 for the latest quarter, surpassing analysts' expectations of $0.34, indicating strong financial performance.
The company generated revenue of $14.20 billion in the most recent quarter, significantly exceeding analyst estimates of $10.25 billion, showcasing robust operational efficiency.
As of now, the stock price is $15.95, which may present a buying opportunity for investors looking for value in the oil and gas sector.
Cenovus Energy Inc. has a relatively low debt-to-equity ratio of 0.24, suggesting a conservative approach to leveraging, which can be appealing to risk-averse investors.
Institutional investors and hedge funds own 51.19% of the company's stock, indicating strong confidence from large financial entities in Cenovus Energy Inc.'s future prospects.

Cenovus Energy
Bear Case

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

The company's revenue decreased by 17.9% year-over-year, which may raise concerns about its ability to maintain growth in a competitive market.
Cenovus Energy Inc. experienced a decline in earnings per share from $0.72 in the same quarter last year to $0.42, indicating potential challenges in profitability.
The stock has a beta of 2.02, suggesting higher volatility compared to the market, which could lead to greater risk for investors.
With a current ratio of 1.59, while still above 1, it indicates that the company has just enough short-term assets to cover its short-term liabilities, which may not provide a strong cushion in economic downturns.
The firm's 50-day simple moving average is $16.59, which is above the current stock price, potentially indicating a bearish trend in the near term.

CVE Forecast - Frequently Asked Questions

: According to the research reports of 6 Wall Street equities research analysts, the average twelve-month stock price forecast for Cenovus Energy is $30.00, with a high forecast of $34.00 and a low forecast of $28.00.
: 6 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Cenovus Energy in the last twelve months. There is currently 1 hold rating and 5 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" CVE shares.
: According to analysts, Cenovus Energy's stock has a predicted upside of 108.04% based on their 12-month stock forecasts.
: Over the previous 90 days, Cenovus Energy's stock had 1 downgrade by analysts.
: Cenovus Energy has been rated by research analysts at BMO Capital Markets, and TD Securities in the past 90 days.
: Analysts like Cenovus Energy more than other "oils/energy" companies. The consensus rating score for Cenovus Energy is 2.83 while the average consensus rating score for "oils/energy" companies is 2.63. Learn more on how CVE compares to other companies.

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This page (NYSE:CVE) was last updated on 12/21/2024 by MarketBeat.com Staff

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Cenovus Energy (CVE) Stock Forecast & Price Target