Cenovus Energy (CVE) Stock Forecast & Price Target

C$22.40 +0.29 (+1.31%)

(As of 12/3/2024 05:18 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

Buy

Based on 10 Analyst Ratings

Sell
0

Hold
0

Buy
10

Based on 10 Wall Street analysts who have issued ratings for Cenovus Energy in the last 12 months, the stock has a consensus rating of "Buy." Out of the 10 analysts, 9 have given a buy rating, and 1 has given a strong buy rating for CVE.

Consensus Price Target

C$31.90
42.41% Upside

According to the 10 analysts' twelve-month price targets for Cenovus Energy, the average price target is C$31.90. The highest price target for CVE is C$35.00, while the lowest price target for CVE is C$28.00. The average price target represents a forecasted upside of 42.41% from the current price of C$22.40.

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CVE Analyst Ratings Over Time

Type	Current Forecast 12/5/23 to 12/4/24	1 Month Ago 11/5/23 to 11/4/24	3 Months Ago 9/6/23 to 9/5/24	1 Year Ago 12/5/22 to 12/5/23
Strong Buy	1 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)	1 Strong Buy rating(s)
Buy	9 Buy rating(s)	9 Buy rating(s)	9 Buy rating(s)	8 Buy rating(s)
Hold	0 Hold rating(s)	0 Hold rating(s)	0 Hold rating(s)	2 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	C$31.90	C$31.90	C$34.08	C$32.97
Forecasted Upside	42.41% Upside	41.46% Upside	46.69% Upside	45.16% Upside
Consensus Rating	Buy	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	Energy Companies
Consensus Rating Score	3.10	2.81
Consensus Rating	Buy	Moderate Buy
News Sentiment Rating	Positive News See Recent CVE News	Neutral 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	Royal Bank of Canada 4 of 5 stars		Lower Target	Outperform	C$29.00 ➝ C$28.00	+26.75%
11/1/2024	BMO Capital Markets 4 of 5 stars		Lower Target	Outperform	C$31.00 ➝ C$28.00	+26.75%
10/15/2024	Raymond James 4 of 5 stars	M. Barth Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target		C$33.00 ➝ C$32.00	+37.04%
10/3/2024	TD Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating	M. Hulshof Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold ➝ Strong-Buy
9/27/2024	National Bankshares Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		C$38.00 ➝ C$31.00	+38.39%
9/16/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy	C$36.00 ➝ C$33.00	+47.92%
Get the Latest News and Ratings for CVE and Related Stocks Enter your email address below to receive the latest news and analysts' ratings for Cenovus Energy and its competitors with MarketBeat's FREE daily newsletter.
7/23/2024	Desjardins Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy	C$31.50 ➝ C$33.00	+22.77%
7/12/2024	Scotiabank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		C$35.00 ➝ C$34.00	+24.54%
4/22/2024	CIBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform	C$31.00 ➝ C$35.00	+20.61%
1/11/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		C$35.00 ➝ C$34.00	+58.66%
10/20/2023	ATB Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		C$31.00 ➝ C$34.00	+19.93%
10/12/2023	National Bank Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		C$31.00 ➝ C$37.00	+32.85%
10/11/2023	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		C$30.00 ➝ C$31.00	+11.31%
5/15/2023	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		C$30.00 ➝ C$29.00	+34.88%
4/6/2023	CSFB Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		C$33.00 ➝ C$31.00	+27.62%
2/17/2023	Veritas Investment Research Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Wednesday at 03:44 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 Monday, November 25, 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 a strong revenue of C$14.89 billion for the latest quarter, exceeding analyst expectations of C$13.44 billion, indicating robust operational performance.
The company has a solid return on equity of 16.69%, which suggests effective management and profitability relative to shareholder equity.
With a current stock price around C$22.50, investors may find it attractive given the potential for growth, especially considering the company's recent performance and analyst ratings.
Cenovus Energy Inc. has a dividend yield of approximately 3.28%, providing a steady income stream for investors, which is appealing in the current market environment.
Recent analyst upgrades, including a price target increase to C$38.00, reflect positive sentiment and potential for stock appreciation, with nine analysts rating the stock as a buy.

Cenovus Energy
Bear Case

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

The company missed earnings per share estimates in the latest quarter, reporting C$0.53 compared to the expected C$0.72, which may raise concerns about future profitability.
Despite a strong revenue report, the net margin of 8.54% indicates that a significant portion of revenue is consumed by costs, which could limit profit growth.
Insider selling activity, while not reported in detail, can sometimes signal a lack of confidence in the company's future performance, which may deter potential investors.
Market volatility in the energy sector can impact stock performance, and fluctuations in oil prices may pose risks to Cenovus Energy Inc.'s profitability.
The company's dividend payout ratio of 28.69% suggests a conservative approach to returning capital to shareholders, which may limit future dividend increases.

CVE Forecast - Frequently Asked Questions

: According to the research reports of 10 Wall Street equities research analysts, the average twelve-month stock price forecast for Cenovus Energy is C$31.90, with a high forecast of C$35.00 and a low forecast of C$28.00.
: 10 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Cenovus Energy in the last year. There are currently 9 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "buy" CVE shares.
: According to analysts, Cenovus Energy's stock has a predicted upside of 42.41% based on their 12-month stock forecasts.
: Over the previous 90 days, Cenovus Energy's stock had 1 upgrade by analysts.
: Cenovus Energy has been rated by research analysts at BMO Capital Markets, Jefferies Financial Group, National Bankshares, Raymond James, Royal Bank of Canada, and TD Securities in the past 90 days.
: Analysts like Cenovus Energy more than other "energy" companies. The consensus rating for Cenovus Energy is Buy while the average consensus rating for "energy" companies is Moderate Buy. Learn more on how CVE compares to other companies.

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This page (TSE:CVE) was last updated on 12/4/2024 by MarketBeat.com Staff

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Cenovus Energy (CVE) Stock Forecast & Price Target