Cenovus Energy (NYSE:CVE) Shares Gap Up – Time to Buy?

02 Apr 2026, 15:18 by Mitch Edgeman · The Markets Daily

Cenovus Energy Inc (NYSE:CVE – Get Free Report) (TSE:CVE) shares gapped up prior to trading on Thursday . The stock had previously closed at $25.82, but opened at $27.00. Cenovus Energy shares last traded at $26.6220, with a volume of 1,792,391 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wall Street Zen cut shares of Cenovus Energy from a “buy” rating to a “hold” rating in a report on Monday, February 23rd. Veritas upgraded shares of Cenovus Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, March 10th. Scotiabank raised shares of Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 20th. Zacks Research upgraded shares of Cenovus Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 24th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cenovus Energy in a research note on Tuesday, January 27th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $29.67.

View Our Latest Analysis on CVE

Cenovus Energy Trading Up 2.0%

The company has a 50 day moving average of $22.49 and a 200 day moving average of $19.14. The firm has a market cap of $49.51 billion, a P/E ratio of 17.18 and a beta of 0.43. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.04 and a current ratio of 1.57.

Cenovus Energy (NYSE:CVE – Get Free Report) (TSE:CVE) last issued its quarterly earnings data on Thursday, February 19th. The oil and gas company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.08. The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $10.89 billion. Cenovus Energy had a net margin of 7.92% and a return on equity of 13.25%. During the same quarter last year, the firm earned $0.07 earnings per share. Analysts predict that Cenovus Energy Inc will post 1.49 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, March 13th. Cenovus Energy’s payout ratio is presently 37.91%.

Hedge Funds Weigh In On Cenovus Energy

Hedge funds have recently bought and sold shares of the business. Jones Financial Companies Lllp grew its stake in Cenovus Energy by 574.8% in the 1st quarter. Jones Financial Companies Lllp now owns 21,607 shares of the oil and gas company’s stock valued at $301,000 after buying an additional 18,405 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Cenovus Energy by 6.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 747,472 shares of the oil and gas company’s stock worth $10,397,000 after acquiring an additional 44,125 shares during the last quarter. American Century Companies Inc. lifted its position in Cenovus Energy by 13.2% during the 2nd quarter. American Century Companies Inc. now owns 780,536 shares of the oil and gas company’s stock worth $10,621,000 after acquiring an additional 91,237 shares during the last quarter. Prudential Financial Inc. bought a new stake in Cenovus Energy during the second quarter valued at about $525,000. Finally, Advisors Asset Management Inc. bought a new stake in Cenovus Energy during the second quarter valued at about $78,000. 51.19% of the stock is owned by institutional investors and hedge funds.

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.