Scotiabank Upgrades Cenovus Energy (NYSE:CVE) to Strong-Buy

Cenovus Energy (NYSE:CVE) (TSE:CVE) was upgraded by research analysts at Scotiabank from a “hold” rating to a “strong-buy” rating in a report released on Friday,Zacks.com reports.

Other analysts have also issued research reports about the stock. Royal Bank Of Canada boosted their price target on shares of Cenovus Energy from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday. BMO Capital Markets reiterated an “outperform” rating on shares of Cenovus Energy in a report on Friday. Weiss Ratings restated a “hold (c)” rating on shares of Cenovus Energy in a report on Tuesday, January 27th. The Goldman Sachs Group reiterated a “buy” rating and set a $22.00 price target on shares of Cenovus Energy in a research note on Monday, February 2nd. Finally, Wall Street Zen raised Cenovus Energy from a “hold” rating to a “buy” rating in a research note on Sunday, February 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cenovus Energy has an average rating of “Moderate Buy” and an average price target of $27.33.

Cenovus Energy Stock Performance

Shares of Cenovus Energy stock opened at $22.58 on Friday. The business has a 50-day simple moving average of $18.65 and a 200 day simple moving average of $17.56. Cenovus Energy has a one year low of $10.23 and a one year high of $23.39. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.73 and a quick ratio of 1.18. The firm has a market capitalization of $42.44 billion, a price-to-earnings ratio of 14.75 and a beta of 0.48.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings results on Thursday, February 19th. The oil and gas company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.08. The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $10.89 billion. Cenovus Energy had a return on equity of 13.53% and a net margin of 7.92%.During the same quarter in the prior year, the company earned $0.07 earnings per share. On average, research analysts anticipate that Cenovus Energy will post 1.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. J.W. Cole Advisors Inc. raised its stake in shares of Cenovus Energy by 3.9% during the 4th quarter. J.W. Cole Advisors Inc. now owns 13,407 shares of the oil and gas company’s stock worth $227,000 after purchasing an additional 500 shares during the period. Gateway Investment Advisers LLC raised its position in Cenovus Energy by 0.6% in the fourth quarter. Gateway Investment Advisers LLC now owns 93,986 shares of the oil and gas company’s stock worth $1,590,000 after acquiring an additional 523 shares during the period. International Assets Investment Management LLC raised its position in Cenovus Energy by 0.9% in the fourth quarter. International Assets Investment Management LLC now owns 65,248 shares of the oil and gas company’s stock worth $1,104,000 after acquiring an additional 565 shares during the period. Farther Finance Advisors LLC boosted its stake in Cenovus Energy by 24.4% in the fourth quarter. Farther Finance Advisors LLC now owns 3,307 shares of the oil and gas company’s stock valued at $56,000 after acquiring an additional 649 shares during the last quarter. Finally, IFP Advisors Inc grew its position in shares of Cenovus Energy by 15.7% during the 4th quarter. IFP Advisors Inc now owns 4,839 shares of the oil and gas company’s stock valued at $82,000 after acquiring an additional 656 shares during the period. Hedge funds and other institutional investors own 51.19% of the company’s stock.

More Cenovus Energy News

Here are the key news stories impacting Cenovus Energy this week:

• Positive Sentiment: Q4 earnings beat and margin improvement: Cenovus reported Q4 EPS above consensus ($0.36 vs. $0.28) and showed stronger margins versus a year ago — a primary reason shares initially rallied after the report. Zacks: Q4 Earnings Top Estimates
• Positive Sentiment: Strong cash flow, production and throughput: Management reported roughly $2.4B cash from operations, $2.7B adjusted funds flow and ~$1.3B free funds flow, plus record upstream production and high downstream utilization — all supportive of dividends, buybacks and deleveraging. GlobeNewswire: Q4 and FY2025 Results
• Positive Sentiment: One‑time currency gain helped results: Cenovus recorded an approximately C$800M annual currency gain that magnified year‑over‑year comparisons, improving reported profitability despite weaker realized prices. Seeking Alpha: Currency Gain Magnifies Quarter
• Positive Sentiment: Dividend declared: Cenovus announced a quarterly dividend of $0.20/share (ex‑dividend March 13), providing ~3.5% yield which supports income‑oriented investors and can underpin the share price. GlobeNewswire: Q4 Release (dividend)
• Neutral Sentiment: Analyst mix and institutional flows: Analysts remain skewed bullish (several Outperform/Buy ratings and a median target near $28) but institutions reported large, mixed portfolio moves — a source of volatility but not a clear directional signal. QuiverQuant: Earnings recap & holdings
• Negative Sentiment: Valuation and oil sensitivity concerns: A Zacks piece warns CVE is near its 52‑week high after a ~58% run, noting rising valuation and sensitivity to weakening WTI forecasts as a near‑term downside risk for the stock. Zacks: Valuation Caution
• Negative Sentiment: Zacks Rank moved CVE to Strong Sell list: Zacks added CVE to its Rank #5 list on Feb 19, which can pressure sentiment and trigger short‑term selling by quantitatively driven funds. Zacks: New Strong Sell Stocks

About Cenovus Energy

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.

The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.