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CVE·Cenovus Energy Inc

$32.53
-0.30 (-0.91%)
High
$33.18
Open
$33.00
Market Cap
82.53B
52W High
$34.87
Low
$32.46
P. Close
$32.53
P/E
12.39
52W Low
$15.63
Fwd P/E
12.17
DailyIQ Est.
$37.17
Inst. Ownership
13.4%
Short Interest
1.50%
Days to Cover
5.8
Div. Yield
1.41%
Last Ex-Div
Sep 15, 2026
Technical Score (1D)
94
BULLISH
News Sentiment
57
BULLISH
With a Technical Score of 94, Cenovus Energy Inc (CVE) sits in the upper tier of the momentum ranking on the 1D timeframe. The bullish bias and BUY signal follow from that rank, and trend strength reads as strong. Sentiment at 57 is aligned with the chart. Because the score is relative, it can stay high while the broader market falls, as long as CVE holds up better than its peers. $31.83 is the near-term risk reference and $35.47 is the next upside marker if buyers keep pressing. A top momentum rank reflects the prior year of trading, so it changes gradually. Day to day, price levels give the earlier read: a decisive close below $31.83 would say more about near-term risk than the rank itself, while holding above it keeps $34.48 in play.
LOW TARGET
$33 +1.3%
2 analysts
MEAN TARGET
$36 +12.1%
10 analysts
HIGH TARGET
$40 +23.0%
11 analysts
PRICE RANGE
$32.95 - $40.00
SB / B / H / S / SS
4/15/2/1/1
DAILYIQ EST.
$37.17 (+14.3%)

EPS

EstBeatMiss
$0.24$0.46$0.69$0.91$1.14Q3'25Q3'26
QtrEstActual+/−
Q3'26$1.03 - -
Q3'25$0.34$0.55+60.8%

Revenue

EstBeatMiss
$12.8B$13.7B$14.7B$15.6B$16.6BQ3'25Q3'26
QtrEstActual+/−
Q3'26$16.1B - -
Q3'25 - $13.2B -
Full Earnings BreakdownEstimates, actuals, guidance, and historical context
→

Market Data

CVE Stock Snapshot

BULLISH94/100
$32.53−$0.30 (0.9%)
Market cap
82.53B
P/E ratio
12.4
Day range
$32.45 – $33.18
News sentiment
57/100 · Neutral
Analyst target
$36.48 (+12.1%)
Consensus
Buy · 23 analysts
52-week range+108.1% off low · -6.7% from high
$15.63$34.87
Price $32.53 DailyIQ Est. $37.17

CVE is trading with the trend behind it, which is what pushes the technical read bullish. Institutional coverage is thorough here, so shifts in analyst expectations show up in price quickly.

Behaviour On Record

What CVE's own history says about today's numbers

Realized volatility (21d)
36.0% 39th pct
Below its peak
-2.8%
vs 200-day average
+24.4%
Up days (1y)
57%

Cenovus Energy Inc is currently running 36.0% annualised volatility over the last 21 sessions. Measured against CVE's own 13 years of daily returns rather than a market-wide average, that is the 39th percentile — on the quiet side for this stock, against a typical reading of 39.4%. The distinction matters because a number that looks calm for one stock is turbulent for another, and the absolute figure on its own tells you neither.

CVE is trading -2.8% below its running peak. Across 12 full years on file, its median worst-drawdown-in-a-year was -37.6%, and the deepest was -84.9% in 2020. The current pullback is therefore shallower than what this stock gives back in a typical year, which is context worth having before treating it as a dislocation.

Price sits +24.4% from its 200-day moving average. Against every other day in its history, that gap ranks at the 84th percentile — a wider gap than this stock usually carries. Over the past year CVE closed higher on 57% of sessions, and it is currently 3 sessions into a rising streak.

On October specifically: over 14 years of records, CVE finished the month higher 6 of 14 times, with a median return of -0.9% and an average of -0.8%. Its strongest month historically has been April at +10.5% on average, its weakest December at -2.6%. Seasonality is a weak signal on its own — a decade is a small sample and regimes change — but it is a real distribution rather than a rule of thumb.

Overnight risk is measurable too: CVE has opened more than 2% away from the prior close in 381 of 3,268 sessions (11.7% of the time), with the largest gaps running +12.3% and -18.3%. For anyone holding through an event, that rate is a better guide to overnight exposure than the intraday range.

All figures computed from 3,269 daily closes between 2013-10-15 and 2026-10-14, split-adjusted, recomputed daily. Percentiles are against CVE's own 13-year history, not a peer group or index.

Sector Rotation

Is money rotating into or out of CVE's sector?

Cenovus Energy Inc sits in the Energy sector, currently ranked 4th of 12 GICS sectors by relative-strength rotation score (leading).

Sector rank
#4 of 12
Sector state
Leading
Sector rotation score
100

Options Market

What is the options market pricing for CVE?

CallsPuts

For Cenovus Energy Inc's nearest expiry (2026-10-16, 2 days out), open interest is roughly balanced between puts and calls (put/call ratio of 1.07), with at-the-money implied volatility around 41.9%. The options market is pricing roughly a ±2.9% move by that expiry — a range of about $31.58–$33.47.

Put/call ratio (2026-10-16)
1.07
ATM implied volatility
41.9%
Total open interest
23,672
Expected move by 2026-10-16
±2.9% ($31.58–$33.47)

Analyst Rating Changes

Are analysts turning bullish or bearish on CVE?

RBC Capital most recently reiterated its rating on Cenovus Energy Inc to Outperform on Jul 30, 2026 with a price target of $51 (from $47). Over the last 90 days, coverage has run 0 upgrades against 0 downgrades, a net mixed lean.

Latest action
RBC Capital — Outperform
90-day upgrades
0
90-day downgrades
0
Net rating momentum
0
DateFirmActionRatingPrice target
Jul 30, 2026RBC CapitalMaintainedOutperform$47 → $51
May 19, 2026RBC CapitalMaintainedOutperform$45 → $47
May 7, 2026RBC CapitalMaintainedOutperform$42 → $45
Mar 12, 2026Goldman SachsMaintainedBuy$22 → $29
Feb 20, 2026RBC CapitalMaintainedOutperform$31 → $32
Feb 18, 2026RBC CapitalMaintainedOutperform$29 → $31
Nov 17, 2025RBC CapitalMaintainedOutperform$30 → $32
Aug 1, 2025RBC CapitalMaintainedOutperform$25 → $26
Apr 30, 2025Goldman SachsMaintainedBuy$18 → $16
Apr 11, 2025RBC CapitalReiteratedOutperform$25
Apr 2, 2025RBC CapitalReiteratedOutperform$25
Feb 21, 2025RBC CapitalMaintainedOutperform$26 → $25

ETF holders

ETFs holding CVE

Top ETF holdersWeight

News Sentiment Analysis

Sentiment gathered from recent headlines

57/100
Strong NegativeNeutralStrong Positive
MODERATELY BULLISH

Recent News Coverage

Most recent articles, ranked by recency (click to expand).

10+ articles
What did this article say?
On October 9, 2026, a market commentary highlighted several stocks, including Cenovus Energy (CVE), alongside Enlight Renewable and Vicor. The piece noted that oil prices had spiked due to geopolitical tensions, causing a pullback in broader U.S. equity gains. It also mentioned rising Treasury yields and the anticipation of the upcoming earnings season as potential market catalysts. No specific corporate action or earnings update for CVE was disclosed, and the article offered no directional guidance for the stock.
What did this article say?
Cenovus Energy Inc. published a slide deck for its M&A call concerning Athabasca Oil Corporation on October 8, 2026. The deck was made available through the company’s investor relations channel. No additional financial or strategic details were disclosed in the release.
What did this article say?
The article argues that Cenovus Energy’s (CVE) stock is undervalued following a $5.7 billion acquisition. It highlights that the deal could unlock significant value for shareholders. Analysts suggest the current price does not fully reflect the strategic benefits of the transaction. The piece concludes that investors may find a buying opportunity.
What did this article say?
Cenovus Energy announced a C$5.7 billion cash‑and‑stock acquisition of Athabasca Oil, adding thermal and Duvernay assets to its Alberta portfolio. The deal is subject to shareholder and regulatory approval. While the stock fell modestly in the week following the announcement, longer‑term performance metrics remained strong, indicating investor confidence in the expansion. The transaction is expected to increase production capacity and enhance Cenovus’s competitive position in the oil sands market.
What did this article say?
Cenovus Energy announced that its integration of the Christina Lake North assets, acquired from MEG Energy, has progressed well, with production already exceeding the asset’s rated capacity of 110,000 barrels per day. The company plans to invest roughly $400 million in growth capital to add new steam generators, debottleneck facilities, and redevelopment drilling, aiming to boost output by nearly 40,000 barrels per day by 2028. This expansion is positioned to strengthen Cenovus’s upstream portfolio and support its long‑term production growth strategy.
What did this article say?
Cenovus Energy (CVE) finalized a C$5.7 billion agreement to acquire Athabasca Oil Corporation, adding approximately 45,000 barrels of oil equivalent per day to its production capacity. The purchase broadens CVE’s presence in Alberta’s oil sands, integrating thermal and Duvernay assets into its existing network. The deal is contingent on shareholder and regulatory approvals, but the strategic expansion positions CVE for increased output and market share in the North American oil sector.
What did this article say?
RBC analysts approved Cenovus Energy’s $5.7 billion acquisition of Athabasca Oil, citing strategic fit and diversification benefits. The deal is expected to add significant thermal production and align assets near Cenovus’ existing properties, while maintaining a neutral/dilutive impact on 2027 adjusted funds from operations. RBC retained an outperform rating and a one‑year price target of $51 per share.
What did this article say?
Cenovus Energy’s planned purchase of Athabasca Oil adds roughly 45,000 barrels of oil equivalent per day and aligns new thermal assets with existing properties, enhancing portfolio coherence. The $5.7 billion cash‑and‑stock deal is projected to deliver $85 million in annual synergies, primarily in the first year, and supports a target of 115,000 barrels per day by 2032. The acquisition expands Cenovus’ development runway through Athabasca’s undeveloped resources.
What did this article say?
ATB Cormark Capital Markets increased its price target for Cenovus Energy (CVE) to CA$49.00 from CA$42.50 following the announcement of a CA$5.7‑billion acquisition of Athabasca Oil. The analyst highlighted that the deal consolidates SAGD acreage, aligns with Cenovus’s operational strengths, and is expected to add modest cash‑flow per share without diluting earnings. The upgrade reflects confidence in the company’s free‑cash‑flow return framework and the strategic fit of the acquisition.
What did this article say?
The Cenovus Energy M&A call was held on October 5, 2026, at 9:00 AM EDT. Patrick Read and Jonathan McKenzie participated in the discussion. The conversation centered on potential merger and acquisition opportunities. No specific deals or commitments were announced during the call. The transcript was subsequently made available to stakeholders.

Technical Analysis

Real-time indicators across multiple timeframes

94
BULLISH
Momentum rank against about 1,000 stocks and ETFs for this timeframe.
Unlock full technicals
Create a free account to access more indicators and deeper timeframe data.
Institutional & Hedge Fund Ownership
25 tracked managers · $7.79B combined position · 12 adding, 13 trimming, 0 unchanged (latest 13F filings)
ManagerTrendShares Held% of Co.Position ValueFiled
Capital World Investors▼ Sell73,836,1432.95%$1.83B2026-08-12
Capital Research Global Investors▼ Sell59,770,3712.39%$1.48B2026-08-12
Vanguard Group Inc▲ Buy63,525,4772.54%$1.07B2026-01-29
FMR LLC (Fidelity)▼ Sell23,947,3790.96%$594.19M2026-08-13
Goldman Sachs Group Inc▲ Buy21,419,3750.86%$531.41M2026-08-14
Bank of America Corp▼ Sell14,901,2860.60%$369.70M2026-08-14
Geode Capital Management, LLC▲ Buy14,396,3790.58%$361.85M2026-08-12
Morgan Stanley▼ Sell8,415,3300.34%$208.78M2026-08-13
JPMorgan Chase & Co▼ Sell7,970,9760.32%$199.19M2026-08-12
BlackRock, Inc.▼ Sell7,389,3020.30%$183.33M2026-08-07
Invesco Ltd.▼ Sell7,322,6490.29%$181.67M2026-08-14
AQR Capital Management LLC▲ Buy6,932,5310.28%$171.85M2026-08-14
Wellington Management Group LLP▼ Sell5,935,5670.24%$147.22M2026-08-14
Adage Capital Partners GP, L.L.C.▲ Buy4,658,2620.19%$115.57M2026-08-14
Point72 Asset Management, L.P.▲ Buy3,847,9260.15%$95.35M2026-08-14
Renaissance Technologies LLC▲ Buy2,301,4940.09%$57.10M2026-08-13
Citadel Advisors LLC▼ Sell2,290,8420.09%$56.84M2026-09-02
Northern Trust Corp▼ Sell1,298,8170.05%$32.22M2026-08-13
D. E. Shaw & Co., Inc.▼ Sell728,9470.03%$18.07M2026-08-14
Citigroup Inc▲ Buy717,4560.03%$17.80M2026-08-03
Wells Fargo & Company▲ Buy583,6370.02%$14.46M2026-08-14
Two Sigma Investments, LP▲ Buy564,8730.02%$14.01M2026-08-14
Neuberger Berman Group LLC▼ Sell528,4040.02%$13.11M2026-08-13
AllianceBernstein L.P.▲ Buy342,0650.01%$9.07M2026-08-14
Bridgewater Associates, LP▲ Buy284,8020.01%$7.07M2026-08-14
Q2 2026 flow:10.34M sh bought ($256.68M)67.27M sh sold ($1.67B)net -56.93M sh (−$1.41B)
View full institutional holdings history →

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