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

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Cenovus Energy (CVE.TO)

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

HOLD

Energy is his top net sector exposure. Cheap. Scores near the top on price momentum and valuation, trades at 10x earnings, recent beat. Aims to be debt free by year's end. Incredible cashflows. Low capex spend. See his Top Picks.

BUY

Only large cap energy stock that owns. Sees upside of small cap energy stock embedded in large cap stock. Recent acquisition of refinery at 1.5x cash flow excellent deal. Has pledged to return 100% of free cash flow to shareholders once debt reduced to zero(Q4). Getting 27.5 years of free inventory at current share price. Entire company could privatize within 3 years at current energy prices.

BUY

Doesn't own stock, but thinks company is undervalued relative to free cash flow. Outstanding oilsands operator. Expecting increased share price, dividends and share buybacks. Energy sector very undervalued.

DON'T BUY

Like every other oil company. The share price now assumes oil prices will stay high for a while, but there's no guarantee. Not for him. Lacks stable revenues. Too cyclical.

BUY

Good name. Nice dividend, anticipates it will grow. Good job integrating Husky. They can enjoy the fruits of their labour with higher oil prices that give them more free cashflow, higher ROC to shareholders, and faster debt repayment. Adding Asian gas component was timely.

COMMENT

If you believe the oil price will hold, then CVE should do well. She owns no oil stocks. Oil prices are flattening, because of fears of a recession eroding oil demand. A caveat.

PAST TOP PICK

(A Top Pick May 28/21, Up 207%) 23% free cash flow yield and 3.6x trading multiple. Has committed to return 100% of free cash flow yield back to shareholders, once debt paid back. Expecting 6x multiple on the company which would be a $52 share price. Management team is committed to delivering capital back to shareholders (set bar in terms of capital returns to shareholders).

PARTIAL SELL

Benefitting from high commodity prices. Not a lifetime hold. From here, you probably want to lighten up because things are going so well. A lot of good news is factored into the stock.

BUY

Company executing well, and believes stock is cheap relative to US peers. Good balance sheet and financial metrics. If oil prices stay high, will be a good long term hold. If Russian supply of oil continues to decline, will be great investment. Investors should be aware of oil price volatility.

BUY ON WEAKNESS

If you feel the market's had a good run, and that central banks will slow down the economy to get a handle on inflation, then we'll see a global slowdown. Supply chain issues persist. Balance sheet is superb. Hold, or buy on weakness. Because of Ukraine, Canada's become an attractive place for foreign investors.

SELL ON STRENGTH

The oil stocks have been amazing, but are getting pricey. Hold this to $26, which is maximum valuation. He questions the earnings story of all the oil stocks which are in the end of the 8th inning--not much time left till they become fully valued.

SELL

He models $52, more than twice the current price. Oil stocks are getting very pricey. You can hold this to $26, full max valuation. He questions the earnings story on all oil stocks which are in the 8th inning. There's not much time left for oil stocks and approaching full valuation.

BUY

Currently owns shares in company. Cash flow multiple trading at 4x. ConocoPhillips slowly exiting position - has had downward pressure on stock price. Expecting share prices to grow. With strong energy prices, will be strong financial performance. Keep shares as expecting growth.

HOLD

Stock vs. warrants? Stock versus warrants is really a question of do you want additional leverage on the warrants? Strike price is $6.54, so it's well in the money. Likes it with strong price momentum. Held back by COP selling shares, so could be a catch-up trade. Scores well on ESG, reasonable valuation.

BUY

ConocoPhillips selling holdings has had downward pressure on stock. Only large cap that Ninepoint owns. Currently trading at ~3x cash flow & 31% free cash flow yield ($100 oil). Plans to reduce debt and increase dividend. At $100 oil, opportunity for 111% upside.

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Cenovus Energy (CVE.TO)