Brokerages Set Cenovus Energy Inc. (TSE:CVE) Target Price at C$39.79

Posted by Geri Gentry on Jun 3rd, 2026

Shares of Cenovus Energy Inc. (TSE:CVE – Get Free Report) (NYSE:CVE) have earned a consensus recommendation of “Buy” from the fifteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is C$39.79.

Several research analysts recently issued reports on the stock. Veritas upgraded shares of Cenovus Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, March 10th. BMO Capital Markets lowered their price target on shares of Cenovus Energy from C$38.00 to C$35.00 and set an “outperform” rating for the company in a report on Friday, February 20th. TD Securities raised their price target on shares of Cenovus Energy from C$28.00 to C$35.00 and gave the company a “buy” rating in a report on Friday, February 20th. JPMorgan Chase & Co. raised their price target on shares of Cenovus Energy from C$25.00 to C$41.00 in a report on Tuesday, April 14th. Finally, UBS Group raised their price target on shares of Cenovus Energy from C$36.00 to C$41.00 in a report on Thursday, April 9th.

Read Our Latest Stock Report on Cenovus Energy

Cenovus Energy Trading Up 3.8%

Cenovus Energy stock opened at C$40.50 on Friday. The company has a debt-to-equity ratio of 42.29, a current ratio of 1.57 and a quick ratio of 1.00. The company has a market capitalization of C$75.53 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 0.09 and a beta of 0.23. Cenovus Energy has a one year low of C$17.61 and a one year high of C$44.13. The company’s fifty day moving average price is C$37.88 and its two-hundred day moving average price is C$30.61.

Cenovus Energy (TSE:CVE – Get Free Report) (NYSE:CVE) last released its quarterly earnings results on Wednesday, May 6th. The company reported C$0.84 earnings per share (EPS) for the quarter. Cenovus Energy had a net margin of 9.52% and a return on equity of 15.23%. The company had revenue of C$12.36 billion during the quarter. On average, analysts forecast that Cenovus Energy will post 2.2619279 earnings per share for the current fiscal year.

Cenovus Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.22 per share. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, June 15th. Cenovus Energy’s payout ratio is 31.87%.

Insider Activity at Cenovus Energy

In related news, insider Jonathan Michael Mckenzie sold 69,387 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of C$39.51, for a total value of C$2,741,480.37. Following the sale, the insider directly owned 1,143,824 shares of the company’s stock, valued at approximately C$45,192,486.24. The trade was a 5.72% decrease in their position. Also, insider John F. Soini sold 10,275 shares of the business’s stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of C$35.13, for a total transaction of C$360,960.75. Following the completion of the sale, the insider directly owned 2,114 shares in the company, valued at C$74,264.82. This represents a 82.94% decrease in their ownership of the stock. In the last ninety days, insiders have sold 236,172 shares of company stock valued at $9,351,575. 32.03% of the stock is owned by corporate insiders.

About Cenovus Energy

(Get Free Report)

Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 472 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds 6.7 billion boe of proven and probable reserves.