Cenovus Energy (NYSE:CVE) Shares Gap Down – Time to Sell?

08 Apr 2026, 16:34 by Mitch Edgeman · The Markets Daily

Cenovus Energy Inc (NYSE:CVE – Get Free Report) (TSE:CVE)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $27.19, but opened at $24.89. Cenovus Energy shares last traded at $25.73, with a volume of 3,354,928 shares traded.

Wall Street Analysts Forecast Growth

CVE has been the subject of several recent analyst reports. BMO Capital Markets reaffirmed an “outperform” rating on shares of Cenovus Energy in a research note on Friday, February 20th. The Goldman Sachs Group upped their price objective on shares of Cenovus Energy from $22.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, March 12th. Zacks Research raised shares of Cenovus Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 24th. Veritas raised shares of Cenovus Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, March 10th. Finally, Scotiabank raised shares of Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 20th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $29.67.

Check Out Our Latest Stock Report on Cenovus Energy

Cenovus Energy Trading Down 5.7%

The company has a market capitalization of $48.19 billion, a P/E ratio of 16.77 and a beta of 0.34. The stock’s 50 day moving average is $23.12 and its 200-day moving average is $19.42. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.04.

Cenovus Energy (NYSE:CVE – Get Free Report) (TSE:CVE) last released its quarterly earnings results on Thursday, February 19th. The oil and gas company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.08. Cenovus Energy had a net margin of 7.92% and a return on equity of 13.25%. The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $10.89 billion. During the same period in the prior year, the firm earned $0.07 earnings per share. As a group, equities research analysts anticipate that Cenovus Energy Inc will post 1.49 earnings per share for the current year.

Cenovus Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Friday, March 13th. Cenovus Energy’s dividend payout ratio is presently 37.91%.

Hedge Funds Weigh In On Cenovus Energy

Institutional investors have recently bought and sold shares of the stock. Financial Management Professionals Inc. bought a new position in Cenovus Energy in the fourth quarter worth about $25,000. Transamerica Financial Advisors LLC grew its holdings in Cenovus Energy by 1,302.7% in the fourth quarter. Transamerica Financial Advisors LLC now owns 1,543 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 1,433 shares during the period. NBC Securities Inc. increased its stake in shares of Cenovus Energy by 961.5% during the fourth quarter. NBC Securities Inc. now owns 1,656 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 1,500 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of Cenovus Energy during the fourth quarter valued at approximately $38,000. Finally, Advisory Services Network LLC bought a new position in shares of Cenovus Energy during the third quarter valued at approximately $50,000. 51.19% of the stock is owned by institutional investors.

Cenovus Energy Company Profile

(Get Free Report)

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.