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

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Cenovus Energy (CVE.TO)

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38.35

-1.73 (4.32%)

as of Jun 9, 2026, 6:16:52 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

COMMENT

Took profits at around $32. Good company as long as you are positive on crude prices. Well positioned company that is going to grow. Prefers things that have a bigger yield to them.

PAST TOP PICK

(A Top Pick Feb 2/10. Up 25.77%.) This might be one of those great Canadian companies that you just hold on to forever. Very good at what they do.

BUY

Sees long term growth here. Well run company. Really tied into the price of oil. Caveat. Cdn oil companies sell in US $’s so it could be bad if the Cdn$ goes up.

TOP PICK

(A Top Pick Jan 27/10. Up 33.44%.) Extremely well managed. Good properties including unexploited oil sands. Good level. Expecting cash levels will be going up over the next number of years at the $3.60-$3.70 level.

BUY

One of his top holdings. Likes it from a 2-5 year point of view. Very high quality assets. They aren’t spending money on gas assets; it is just a cash cow.

PAST TOP PICK

(Top Pick Dec 10/09, Up 27%) Went to his target and he said thank-you and went on to other things. A week or so ago he bought Encana, which is the Gas story. CVE was oil.

TOP PICK

Stock has been sideways for a while but likes what they are doing and it could break out from here. Likes SAGD approach, which is much neater. Feels they are the leading edge of the oil sands area.

SELL

Just covered a Short he had on it. On a parallel between it and Suncor (SU-T) and finds the valuation ridiculous. Almost 50% natural gas so you are paying an oil sand premium for natural gas. Fully valued.

SELL

If he were going to be involved in the oil sands area he would go with Canadian Natural Resources (CNQ-T) and if he owned this he would consider switching.

COMMENT

Cenovus (CVE-T) versus Canadian Natural Resources (CNQ-T)? Both are good companies and both oil oriented with conventional and crude. He prefers something with a significant yield so he owns Canadian Oil Sands (COS.UN-T) instead. (See Top Picks.)

BUY

Gas assets, which fully financed their growth in the oil sands. Have one of the best SAGD projects. Not expensive.

BUY

Analysts had raised estimates from mid to upper $30’s and stock moved up. When they reported earnings, there was a slight disappointment so the stock has dropped. Still likes and can see $33-$34 over the next year.

TOP PICK

Foster Creek and Christina Lake are the 2 main SAGD operations and have some of the best ratios in the business. Have 137 billion barrels of oil in place on their lands, which will support potential production of 2 million barrels a day.

PARTIAL BUY

This is the mostly oily assets of Encana (ECA-T). Under performed for the first little while and dropped to good value at the $24-$25 range. On days when oil is weak, you can pick away at it and get more aggressive if oil goes back to $70.

TOP PICK

Pure oil play and primarily oil sands. Very good at keeping costs down. These guys are the low cost producers. Very advanced on the technology side. Have refineries. It lowers the volatility. Thinks they will increase their dividend faster than competition.

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Cenovus Energy (CVE.TO)