CVE

Cenovus Energy reported first‑quarter 2026 results showing sales of C$12,356 million versus C$13,299 million a year earlier, while net income rose to C$1,570 million and diluted EPS from continuing operations increased to C$0.83 from C$0.47. The company’s 10% increase in its quarterly base dividend to C$0.22 per share highlights management’s confidence in cash generation alongside higher upstream production, even as downstream throughput declined. Next, we’ll examine how Cenovus’s stronger earnings and higher dividend affect its existing investment narrative and risk‑reward balance. Rare earth metals are the new gold rush. Find out which 33 stocks are leading the charge. To own Cenovus, you need to believe its high cost, high carbon oil sands and offshore portfolio can keep throwing off solid cash, even as regulation and energy transition pressures build. The latest quarter supports that view in the near term, with higher earnings and EPS despite softer sales, and a higher dividend. The key short term catalyst remains successful delivery of growth projects at targeted costs, while heavy capital needs and regulatory uncertainty are still the biggest risks. The 10% increase in Cenovus’s quarterly base dividend to C$0.22 per share is the most relevant recent announcement here, because it directly connects the stronger earnings profile to shareholder returns. It also matters for how investors think about Cenovus’s capital allocation when set against large ongoing project and integration spending, which could still pressure free cash flow if costs rise or refining performance weakens. Yet behind the higher dividend, investors should be aware that Cenovus still faces meaningful regulatory and long term carbon cost risk if... Read the full narrative on Cenovus Energy (it's free!) Cenovus Energy's narrative projects CA$41.2 billion revenue and CA$4.7 billion earnings by 2029. This requires a 6.1% yearly revenue decline and about a CA$0.8 billion earnings increase from CA$3.9 billion today. Uncover how Cenovus Energy's forecasts yield a CA$42.00 fair value, in line with its current price. The most cautious analysts were assuming Cenovus’s revenue could shrink about 7.3% a year and still only reach about C$39.6 billion by 2029, even as earnings edge to roughly C$4.0 billion. That is a much more pessimistic view than the consensus, and the strong Q1 2026 result may or...

Cenovus Energy Inc. CVE reported first-quarter 2026 adjusted earnings of 61 cents per share, which beat the Zacks Consensus Estimate of 56 cents by 8.9%. The bottom line increased from the year-ago quarter’s figure of 32 cents. Total quarterly revenues of $9 billion missed the Zacks Consensus Estimate of $9.3 billion by 3.2%. The top line declined from the year-ago quarter’s level of $9.3 billion. Strong quarterly earnings were primarily driven by higher total upstream production. A rise in general and administrative expenses, and net foreign exchange (gain) loss, partially offset the positives. Cenovus Energy Inc price-consensus-eps-surprise-chart | Cenovus Energy Inc Quote Cenovus’ Oil Sands segment revenues increased to C$7.8 billion from C$7.0 billion in the year-ago quarter, driven by higher sales volumes. The operating margin from the Oil Sands unit totaled C$3.1 billion, up from C$2.54 billion reported a year ago. Cenovus’ Conventional segment revenues increased to C$1.0 billion from C$924 million in the first quarter of 2025. The operating margin from the Conventional unit totaled C$211 million, reflecting a significant increase from C$173 million recorded in the year-ago quarter. Cenovus’ Offshore segment revenues were C$524 million, higher than the C$426 million recorded in the prior year. The Offshore unit recorded an operating margin of C$402 million, up from C$331 million in the year-ago quarter. In the first quarter, the company recorded Oil Sands crude oil and natural gas liquids production of 772.6 thousand barrels per day (Mbbls/d), an increase from the year-ago quarter’s figure of 624.3 Mbbls/d. Oil Sands natural gas production was 14.4 million cubic feet per day (MMcf/d), higher than the 11.4 MMcf/d recorded a year ago. Oil Sands volumes rose 23.8% to 775.0 thousand barrels of oil equivalent per day (Mboe/d) from 626.2 Mboe/d in the year-ago quarter. The company’s Conventional crude oil and natural gas liquids production was 28.9 Mbbls/d compared with 25.7 Mbbls/d a year ago. Conventional natural gas production was 852 MMcf/d, lower than the 887.9 MMcf/d recorded a year ago. Conventional volumes dipped 1.8% to 121.7 Mboe/d from 123.9 Mboe/d recorded in the first quarter of 2025. The company’s Offshore crude oil and natural gas liquids production was 28.6 Mbbls/d compared with 20.9 Mbbls/d a year ago. Offshore natural gas production was 281...

Interested in Cenovus Energy Inc? Here are five stocks we like better. Strong first-quarter results: Cenovus reported upstream production above 972,000 boe/d, helped by record oil sands volumes after the MEG acquisition. The company also generated about CAD 4.4 billion in operating margin and CAD 3.4 billion in adjusted funds flow. Upstream and downstream operations performed well: Oil sands assets such as Christina Lake, Foster Creek and Sunrise posted strong production, while refiners ran at high utilization and delivered a 114% adjusted market capture rate. Management said downstream results were aided by favorable heavy crude differentials and strong distillate margins. Capital returns and growth projects remain priorities: Cenovus kept 2026 capital guidance at CAD 5.0 billion to CAD 5.3 billion, ended the quarter with net debt of about CAD 8.1 billion, and raised its annual base dividend by 10%. The company also said West White Rose is on track for first oil later in Q3, while debt reduction may take greater near-term priority than buybacks. Top 5 Highest-Rated Dividend Stocks, According to MarketBeat Cenovus Energy (NYSE:CVE) reported strong first-quarter 2026 operating and financial results, with management highlighting record oil sands volumes, solid refinery performance and progress on major growth projects following the company’s MEG acquisition. President and CEO Jon McKenzie said the company remained focused on “executing our business plan, delivering exceptional operating performance, and advancing our growth projects,” despite increased commodity price volatility and geopolitical uncertainty late in the quarter. → Wells Fargo’s Comeback Is Real—But Not Risk-Free 2 Energy Stocks to Play Both Sides of Tariff Uncertainty Upstream production exceeded 972,000 barrels of oil equivalent per day in the quarter, supported by what McKenzie described as record oil sands volumes in Cenovus’s first full quarter after the MEG acquisition. CFO Kam Sandhar said the company generated approximately CAD 4.4 billion of operating margin and CAD 3.4 billion of adjusted funds flow during the period. McKenzie said Christina Lake averaged 359,000 barrels per day in the first quarter, supported by strong performance at Narrows Lake. Narrows Lake is now producing more than 65,000 barrels per day from its first four well pads, with a steam-oil ratio below two. McKenzie sa...

Cenovus Energy Inc. (TSE:CVE) shareholders are probably feeling a little disappointed, since its shares fell 2.3% to CA$38.84 in the week after its latest quarterly results. Revenues of CA$12b fell slightly short of expectations, but earnings were a definite bright spot, with statutory per-share profits of CA$0.83 an impressive 20% ahead of estimates. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. We've gathered the most recent statutory forecasts to see whether the analysts have changed their earnings models, following these results. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. After the latest results, the four analysts covering Cenovus Energy are now predicting revenues of CA$59.3b in 2026. If met, this would reflect a substantial 22% improvement in revenue compared to the last 12 months. Statutory earnings per share are predicted to bounce 67% to CA$4.14. Yet prior to the latest earnings, the analysts had been anticipated revenues of CA$55.8b and earnings per share (EPS) of CA$3.55 in 2026. So it seems there's been a definite increase in optimism about Cenovus Energy's future following the latest results, with a substantial gain in the earnings per share forecasts in particular. View our latest analysis for Cenovus Energy Althoughthe analysts have upgraded their earnings estimates, there was no change to the consensus price target of CA$42.84, suggesting that the forecast performance does not have a long term impact on the company's valuation. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. There are some variant perceptions on Cenovus Energy, with the most bullish analyst valuing it at CA$57.00 and the most bearish at CA$35.00 per share. This shows there is still a bit of diversity in estimates, but analysts don't appear to be totally split on the stock as though it might be a success or failure situation. One way to get more context on these forecasts i...

Make better investment decisions with Simply Wall St's easy, visual tools that give you a competitive edge. Cenovus Energy (TSX:CVE) reported its first quarter 2026 earnings, posting lower sales but higher net income and earnings per share compared with the same period last year. See our latest analysis for Cenovus Energy. The earnings release follows a strong run in the stock, with a 7 day share price return of 10.6% and a 90 day share price return of 49.9%, contributing to a 1 year total shareholder return of 162.8%. If you are looking to broaden your opportunity set beyond energy, this could be a good moment to check out 36 power grid technology and infrastructure stocks With earnings per share up year over year and the stock already pricing close to analyst targets, the key question now is whether Cenovus still trades at a discount or if the market is already pricing in future growth. The most followed Cenovus Energy narrative currently places fair value at CA$42.00, just above the last close of CA$41.51, which sets up a tight valuation debate. Read the complete narrative. There is a specific glide path here, combining changing revenue expectations, higher margins and a richer earnings multiple to justify that fair value. The narrative places emphasis on how profitability might evolve, not just headline production volumes. It raises the question of which earnings and margin assumptions would need to align for this pricing to hold. Result: Fair Value of CA$42.00 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, there are clear pressure points here, including Canadian regulatory shifts and ongoing oil sands and WCS differential risks, that could quickly weaken this undervalued narrative. Find out about the key risks to this Cenovus Energy narrative. The first narrative leans on future cash flows, but the current P/E tells a more cautious story. Cenovus trades on a 19.9x P/E, slightly above its 19.0x fair ratio, a small premium that implies less room for error if expectations soften. Compared with the Canadian Oil and Gas industry at 19.5x and peers at 22.1x, Cenovus sits between sector and peer pricing. This keeps the debate alive: is this a valuation cushion or a sign that enthusiasm has already crept in? See what the numbers say about this price — find out in our valuation breakdown. If the mixed sign...

Cenovus Energy (CVE) reported $9.01 billion in revenue for the quarter ended March 2026, representing a year-over-year decline of 2.8%. EPS of $0.61 for the same period compares to $0.32 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $9.26 billion, representing a surprise of -2.75%. The company delivered an EPS surprise of +9.91%, with the consensus EPS estimate being $0.56. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Here is how Cenovus performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Total Production Per Day - Heavy Crude Oil: 29.00 MBbls compared to the 26.28 MBbls average estimate based on two analysts. Upstream(Oil Sands) -Production Volumes per day: 775.00 Kboe compared to the 772.76 Kboe average estimate based on two analysts. Total Production Per Day - Bitumen: 743.60 MBbls versus 744.22 MBbls estimated by two analysts on average. Upstream - Total Conventional Natural Gas Production: 852 millions of cubic feet versus 860.48 millions of cubic feet estimated by two analysts on average. Total Upstream Production: 972.1 millions of barrels of oil equivalent versus 965.29 millions of barrels of oil equivalent estimated by two analysts on average. Upstream - Crude Oil and Natural Gas Liquids - Total Oil Sands Production - Foster Creek: 223 millions of barrels of oil compared to the 220.3 millions of barrels of oil average estimate based on two analysts. Upstream - Crude Oil and Natural Gas Liquids - Total Oil Sands Production - Christina Lake: 358.9 millions of barrels of oil versus the two-analyst average estimate of 358.03 millions of barrels of oil. Upstream - Crude Oil and Natural Gas Liquids - Total Oil Sands Production - Sunrise: 59.4 millions of barrels of oil versus the two-analyst average estimate of 60.45 millions of barrels of oil. Upstream - Crude Oil and Natural Gas Liquids - Total Oil S...

CALGARY, Alberta, May 06, 2026 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) held its annual meeting of shareholders on May 6, 2026. Each matter voted on is described in greater detail in the Corporation’s 2026 Management Information Circular dated March 10, 2026. Shareholders voted as follows on the matters before the meeting: Appointment of Auditor: PricewaterhouseCoopers LLP, Chartered Professional Accountants, was reappointed as auditor of the Corporation. Election of Directors - Each of the following 14 nominees proposed by management was elected a director of the Corporation: Non-Binding Advisory Vote on the Corporation’s Approach to Executive Compensation: An advisory resolution was passed to accept the Corporation’s approach to executive compensation. Cenovus Energy Inc. Cenovus Energy Inc. is an integrated energy company with oil and natural gas production operations in Canada and the Asia Pacific region, and upgrading, refining and marketing operations in Canada and the United States. The company is committed to maximizing value by developing its assets in a safe, responsible and cost-efficient manner, integrating sustainability considerations into its business plans. Cenovus common shares are listed on the Toronto and New York stock exchanges. For more information, visit cenovus.com. Find Cenovus on Facebook, LinkedIn, YouTube and Instagram Cenovus contacts: Investors Investor Relations general line 403-766-7711 Media Media Relations general line 403-766-7751

Cenovus Energy CVE is set to report first-quarter 2026 results on May 6, before the opening bell. The Zacks Consensus Estimate for first-quarter earnings is pegged at 56 cents per share, implying a 75% surge from the year-ago reported number. CVE has witnessed no estimate revision in the past seven days. The Zacks Consensus Estimate for first-quarter revenues is pegged at $9.3 billion, which suggests no change from the year-ago reported figure. CVE beat on earnings in the trailing four quarters, delivering an average surprise of 51.2%. This is depicted in the graph below: Image Source: Zacks Investment Research Our proven model does not conclusively predict an earnings beat for CVE this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat. That is just the case here. The Canadian integrated energy player has an Earnings ESP of 0.00% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter. To understand how oil prices performed during the March-end quarter, we can look at data from the U.S. Energy Information Administration (EIA). Per the EIA, the average Cushing, OK, WTI spot prices were $60.04 per barrel in January, $64.51 in February and $91.38 in March of 2026. This favorable pricing environment, particularly in March, likely supported Cenovus’s exploration and production activities, and may have contributed positively to its production. Cenovus has a production mix that includes a substantial proportion of heavy oil. Therefore, its realized prices are influenced not only by WTI but also by the differential between WTI and Western Canadian Select. The Zacks Consensus Estimate projects total upstream production at 965 thousand barrels of oil-equivalent per day (Mboe/d), up from 819 Mboe/d in the year-ago quarter. Meanwhile, U.S. refining crude throughput is estimated at 352 thousand barrels per day (Mbbls/d), whereas it reported 554 Mbbls/d in the March quarter of 2025. The downstream segment is therefore expected to weigh on the company’s overall performance in the upcoming earnings. Cenovus’s stock has skyrocketed 153.2% over the past year, outperforming the industry’s 107.6% whopping growth. BP plc BP, another integrated ma...

Suncor Energy (SU) came out with quarterly earnings of $1.41 per share, missing the Zacks Consensus Estimate of $1.45 per share. This compares to earnings of $0.91 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -2.42%. A quarter ago, it was expected that this energy company would post earnings of $0.77 per share when it actually produced earnings of $0.79, delivering a surprise of +2.6%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Suncor Energy, which belongs to the Zacks Oil and Gas - Integrated - Canadian industry, posted revenues of $10.69 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 19.53%. This compares to year-ago revenues of $8.67 billion. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Suncor Energy shares have added about 54.6% since the beginning of the year versus the S&P 500's gain of 5.2%. While Suncor Energy has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Suncor Energy was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's...

Stifel Canada on Wednesday reiterated its buy rating on the shares of Cenovus Energy (CVE.TO, CVE) w

Cenovus Energy (CVE) came out with quarterly earnings of $0.61 per share, beating the Zacks Consensus Estimate of $0.56 per share. This compares to earnings of $0.32 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +9.91%. A quarter ago, it was expected that this oil company would post earnings of $0.28 per share when it actually produced earnings of $0.36, delivering a surprise of +28.57%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Cenovus, which belongs to the Zacks Oil and Gas - Integrated - Canadian industry, posted revenues of $9.01 billion for the quarter ended March 2026, missing the Zacks Consensus Estimate by 2.75%. This compares to year-ago revenues of $9.26 billion. The company has topped consensus revenue estimates just once over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Cenovus shares have added about 80% since the beginning of the year versus the S&P 500's gain of 6%. While Cenovus has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Cenovus was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks...

CALGARY, Alberta, May 06, 2026 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced its first-quarter 2026 financial and operating results. In the quarter, the company generated approximately $3.4 billion of adjusted funds flow and $2.2 billion of free funds flow. Operating results in the quarter included Upstream production of 972,100 barrels of oil equivalent per day (BOE/d)1 and Downstream crude throughput of 458,500 barrels per day (bbls/d), representing an overall crude unit utilization rate of 97%. The Board of Directors has approved a 10% increase in the quarterly base dividend to $0.22 per share, beginning in the second quarter of 2026. Consistent with Cenovus’s financial framework, the base dividend is underpinned by its growth plan and resilience at a US$45 West Texas Intermediate crude oil price. Highlights Reached highest ever quarterly Upstream production of 972,100 BOE/d, an increase of 54,200 BOE/d or 6% from Q4 2025 and 153,200 BOE/d or 19% from Q1 2025. Accelerated the redevelopment well program at Christina Lake North. The first of 40 redevelopment wells was drilled in March with first oil processed in April. Increased Offshore production to 75,400 BOE/d in Q1 2026, an increase of 4,500 BOE/d or 6% from Q4 2025. With the West White Rose project now complete and drilling operations underway, first oil is expected in Q3 2026. Achieved a Downstream utilization rate of 97%, with crude throughput of 458,500 bbls/d. U.S. Refining adjusted market capture2 of 114% contributed to total Downstream operating margin3 of $734 million, including a $457 million inventory holding gain. Returned $1.0 billion to shareholders in the first quarter, including $379 million through common and preferred share dividends, $356 million through common share repurchases and $300 million in preferred share redemptions. “Our people continued to deliver exceptional operating and financial results. From record Upstream production to seamless project execution and robust Downstream performance, the entire suite of integrated assets contributed to a terrific quarterly result,” said Jon McKenzie, Cenovus President & Chief Executive Officer. “Our focus remains squarely on safety and disciplined execution of our ambitious business plan.” Financial summary Production and throughput 1 See Advisory for production by product type and by reporting segment....