Cenovus Energy (CVE.TO) Buy, Sell or Hold

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Cenovus Energy (CVE.TO)

38.56

-1.52 (3.79%)

as of Jun 9, 2026, 8:00:00 pm Market Open.

875 watching

Investor Insights

Jun 9, 2026, 12:00 am

This summary was created by AI, based on 27 opinions in the last 12 months.

Cenovus Energy (CVE-T) is viewed positively by analysts, with a majority expressing confidence in its operations and growth potential. The recent MEG Energy acquisition is recognized as a strategic move that could enhance synergies and volumes in the long term, despite an increased debt burden. Analysts appreciate the management's effectiveness and the company's strong cash flow, particularly benefiting from record refinery margins. The consensus reflects expectations of higher energy prices contributing positively to cash flow, though some caution is advised regarding debt reduction and the potential impact on shareholder returns. Analysts believe Cenovus is undervalued in the current market, with several indicating significant upside potential based on earnings ratios and future oil price predictions.

Consensus

Buy

Valuation

Undervalued

Similar

CNQ

BUY

Doing well compared to the group. Long way to go. There will be volatility, but energy is underowned. Great assets. Prefers CNQ, but both are great. Trades at 8x next year's earnings, balance sheet good, paying down debt.

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BUY

Believes company is a well positioned and likes the stock. Strong management team. Operational execution has been strong. Company cleaning up balance sheet (reducing debt). Believes company will increase the dividend. Company offers above average returns with below average risk.

HOLD

Paying down debt, because otherwise it makes it hard to get financing. Sold off part of assets, a smart move. Likes what they're doing. If oil stays around $75, they will benefit over time. They're being cautious. They've agreed to buy back shares, but this can change.

COMMENT

Selling gas station and oil sands assets to pay debt He's been fairly big in the energy sector, but not CVE. It's good they're paying down debt as rates are low. There will be continued demand for fossil fuels. There's a supply shortage and alternative sources haven't filled energy demand yet. He's bullish energy.

WEAK BUY

They made a buy purchase of Husky. It's probably a good long-term hold if you want exposure in the energy patch. She owns no oil producers, but pipelines instead. CVE is decent.

BUY

Doing very well. Increased dividend, though not a big yield. Free cashflow accelerating. Improved balance sheet. Sold non-core holdings. Increased production. Talks environmental responsibility. Good future ahead. Discount to the group.

COMMENT

Might take another run at MEG, but he'd be surprised, as they could get into trouble. They just got out of jail from the disappointing Husky transaction. Seem pretty focused on returning capital to shareholders and paying down debt. A tough business.

BUY

Likes it. The only large cap he owns. It is trading at a material discount. They have a great CEO who executes well. The Husky gas station sale is good to deleverage. 74% upside potential. Volume has been strong. Trading at a good discount. A standout choice.

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DON'T BUY

A producer. Selloff in mid-streams favours owning them over a name like this. Producers are more commodity exposed, with risks of labour cost inflation and supply chain shortages. He prefers names like ENB, PPL, and TRP with their healthy dividends and less volatility.

TOP PICK

Highest conviction play. A large cap that can offer 100% upside potential. Trading at half of the multiples of US peers. Aggressively paying down the Husky debt. Breached the 10B metric and buybacks start Tuesday. They still have assets to sell that can contribute to buybacks. Balance sheet is improving. At $80 oil, it could be in the low $30s. (Analysts’ price target is $19.05)

BUY ON WEAKNESS

CVE-T vs. CNQ-T. CNQ-T has not outperformed over ten years but he would be weighted more towards it for the short term at this point, buying on weakness. The dividend return is important to a lot of investors.

COMMENT

These days, you want to own the larger cap players. They all plan to cut back spending, reduce debt, increase dividend, buy back shares. He owns CNQ instead. Won't be massive increases in exploration and production. Oil is not going away.

TOP PICK

The CEO is a good micro and macro thinker. The Husky purchase debt is being paid down quickly. Once this is done, they should introduce a meaningful share buyback program. Trading at a material discount to peers. Trading at a 27% free cashflow yield right now. Has lots of flexibility on how to return capital to investors. Could go up to $23 per share. (Analysts’ price target is $16.02)

BUY

The price is now good. Its cash flow is below 5x or 4x. It pays a modest dividend. They're technologically advance and own great properties. They lowered their interest in White Rose and Terra Nova, which frees up more capital to deploy in traditional fields. Good managers. He owns a little and should do well in coming years.

HOLD

Balance sheet in good shape. Oil at these levels means incredible levels of free cashflow. Trading at historically low multiples. Economy is slowing, so he reduced his position in the summer to about 2%. He tries to ignore OPEC news, but would be fine with the name for the next few months. If it got into the mid-teens, he'd probably be out.

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Cenovus Energy (CVE.TO)