Cenovus Energy Inc., together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada, the United States and the Asia Pacific region. The company operates through Oil Sands, Conventional, and Refining and Marketing segments. The Oil Sands segment develops and produces bitumen in northeast Alberta. Its bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development. The Conventional segment holds assets primarily located in Elmworth-Wapiti, Kaybob-Edson, and Clearwater operating areas of British Columbia and Alberta, as well as various interests in natural gas processing facilities. The Refining and Marketing segment transports and sells crude oil, natural gas, and NGLs. This segment owns a 50% ownership in Wood River and Borger refineries located in the United States; and owns and operates a crude-by-rail terminal in Alberta. Cenovus Energy Inc. was founded in 2009 and is headquartered in Calgary, Canada.
IPO Year:
Exchange: NYSE
Website: cenovus.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 2/21/2025 | Outperform → Sector Perform | National Bank Financial | |
| 2/23/2024 | Neutral → Buy | UBS | |
| 9/6/2023 | Sector Perform → Sector Outperform | Scotiabank | |
| 7/12/2023 | Neutral | UBS | |
| 6/6/2023 | $20.00 → $22.00 | Neutral → Buy | Goldman |
| 4/14/2023 | Sector Outperform → Sector Perform | Scotiabank | |
| 11/21/2022 | $23.00 | Buy → Neutral | Goldman |
| 10/19/2022 | Buy | Jefferies | |
| 8/11/2022 | Outperform | Credit Suisse | |
| 2/14/2022 | $22.00 → $26.00 | Outperform | Credit Suisse |
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6-K - CENOVUS ENERGY INC. (0001475260) (Filer)
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6-K - CENOVUS ENERGY INC. (0001475260) (Filer)
6-K - CENOVUS ENERGY INC. (0001475260) (Filer)
6-K - CENOVUS ENERGY INC. (0001475260) (Filer)
6-K - CENOVUS ENERGY INC. (0001475260) (Filer)
144 - CENOVUS ENERGY INC. (0001475260) (Subject)
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Glass Lewis highlights that the Cenovus Transaction "offers clear industrial logic, synergies, and diversification benefits that provide a stronger long-term platform for MEG's assets"Cenovus Transaction accelerates value realization from MEG's standalone plan, delivering production capacity of 150,000 bpd at Christina Lake by 2028 through incremental capital investmentCenovus Transaction provides MEG Shareholders with substantial cash and highly liquid share consideration and upside participation in long-term value creation potentialMEG Shareholders are encouraged to deposit their proxies and vote FOR the Cenovus Transaction ahead of the proxy deadline of October 7, 2025 at 9:00 a.m. (Calga
ISS highlights that "by all accounts, there seems to be little doubt that a transaction with Cenovus should unlock substantial synergy value" and is "the most prudent path forward"Cenovus Transaction accelerates value realization from MEG's standalone plan, provides MEG Shareholders with substantial cash and highly liquid share consideration and upside participation in long-term value creation potentialMEG announces receipt of Competition Act Approval (Canada) and HSR Approval (U.S.)MEG Shareholders are encouraged to deposit their proxies and vote FOR the Cenovus Transaction ahead of the proxy deadline of October 7, 2025, at 9:00 a.m. (Calgary Time)For questions or assistance, contact Sodali
CALGARY, Alberta, Sept. 18, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) today released a presentation outlining the compelling advantages of its transaction with MEG Energy. The transaction was unanimously approved and reaffirmed by MEG Energy's board of directors, and delivers full and fair value to MEG shareholders. In contrast, Strathcona Resources' offer is inferior, high risk and not in the best interests of MEG shareholders. Why Cenovus's transaction with MEG is the superior outcome: Offers an attractive price at a premium valuation with certainty of consideration value in the form of cash and Cenovus shares.Cenovus brings scale, industry-leading exper
MEG's Board of Directors unanimously recommends that MEG Shareholders vote FOR the Cenovus TransactionRevised Strathcona Offer exposes MEG Shareholders to inferior assets, an unproven track record, an overvalued Strathcona share price, significant overhang risk, and governance riskThe Special Distribution described in the Revised Strathcona Offer results in a weaker balance sheet and increased financial risk for the combined company compared to the Initial Strathcona OfferCenovus Transaction accelerates value realization from MEG's standalone plan, provides shareholders with substantial cash and highly liquid share consideration with lower risk and upside participation in long-term value cre
CALGARY, Alberta, Sept. 09, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) today announced it has reached an agreement for the sale, indirectly through wholly-owned subsidiaries, of its 50% interest in WRB Refining LP (WRB) to its joint venture partner Phillips 66. The consideration will consist of US$1.4 billion in cash, or approximately C$1.9 billion, subject to customary closing adjustments. "This transaction aligns with our strategy of owning and operating the assets that are core to our business. After the sale of WRB, our downstream business will be more focused, comprised of assets we control, which provide physical integration and egress for our leading upstream
CALGARY, AB, Sept. 8, 2025 /CNW/ - MEG Energy Corp. (TSX:MEG) ("MEG", or the "Company") is responding to the news release issued on September 8, 2025 by Strathcona Resources Ltd. ("Strathcona") announcing its intention to file a variation and extension to its offer (the "Revised Strathcona Offer") to acquire MEG. As previously announced on August 22, 2025, MEG entered into a definitive arrangement agreement ("Arrangement Agreement") with Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) ("Cenovus") under which Cenovus will acquire all issued and outstanding MEG shares in a transaction that values MEG at $27.76 per share or $8.0 billion at Cenovus's closing share pric
CALGARY, Alberta, Aug. 22, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) today announced that it has entered into a definitive arrangement agreement to acquire MEG Energy Corp. (TSX:MEG) ("MEG") in a cash and stock transaction valued at $7.9 billion, inclusive of assumed debt. Under the terms of the agreement, Cenovus will acquire all of the issued and outstanding common shares of MEG for $27.25 per share, which will be paid 75% in cash and 25% in Cenovus common shares. Each MEG shareholder will have the option to elect to receive, for each MEG common share (i) $27.25 in cash; or (ii) 1.325 Cenovus common shares, subject to pro-ration based on a maximum amount of $5.2
$27.25 per share Purchase Price, payable 75% in cash and 25% in Cenovus shares, represents a 33% premium to MEG's unaffected 20-day volume-weighted share price as of May 15, 2025Cash and highly liquid share consideration provides MEG Shareholders with near-term value certaintyUpside participation in an industry-leading producer with significant scale and growth potentialAccelerates and de-risks realization of value from MEG's standalone planUnanimously approved by MEG's Board of Directors which recommends MEG Shareholders vote FOR the Transaction at a special meeting expected to be held in early October 2025CALGARY, AB, Aug. 22, 2025 /CNW/ - MEG Energy Corp. (TSX:MEG) ("MEG", or the "Company
CALGARY, Alberta, July 31, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) today announced its second-quarter 2025 financial and operating results. The company generated approximately $2.4 billion in cash from operating activities, $1.5 billion of adjusted funds flow and $355 million of free funds flow. Total upstream production was 765,900 barrels of oil equivalent per day (BOE/d)1, reflecting planned turnarounds at the Foster Creek and Sunrise oil sands assets, maintenance at offshore facilities and short-term production impacts from wildfire activity at Christina Lake. Downstream crude throughput was 665,800 barrels per day (bbls/d), representing an overall utilizatio
CALGARY, Alberta, July 24, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) will release its second-quarter 2025 results on Thursday, July 31, 2025. The news release will provide consolidated second-quarter operating and financial information. The company's financial statements will be available on Cenovus's website, cenovus.com. Second-quarter 2025 conference call: 9 a.m. MT (11 a.m. ET) For analysts wanting to join the call, please register in advance. To participate, you must complete the online registration form in advance of the conference call start time. Register ahead of time to receive a unique PIN to access the conference call via telephone. Once registe
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National Bank Financial downgraded Cenovus Energy from Outperform to Sector Perform
UBS upgraded Cenovus Energy from Neutral to Buy
Scotiabank upgraded Cenovus Energy from Sector Perform to Sector Outperform
UBS initiated coverage of Cenovus Energy with a rating of Neutral
Goldman upgraded Cenovus Energy from Neutral to Buy and set a new price target of $22.00 from $20.00 previously
Scotiabank downgraded Cenovus Energy from Sector Outperform to Sector Perform
Goldman downgraded Cenovus Energy from Buy to Neutral and set a new price target of $23.00
Jefferies initiated coverage of Cenovus Energy with a rating of Buy
Credit Suisse resumed coverage of Cenovus Energy with a rating of Outperform
Credit Suisse reiterated coverage of Cenovus Energy with a rating of Outperform and set a new price target of $26.00 from $22.00 previously
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CALGARY, Alberta, May 08, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) held its annual meeting of shareholders on May 8, 2025. Each matter voted on is described in greater detail in the Corporation's 2025 Management Information Circular dated March 12, 2025. 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. Votes forVotes withheldNumberPercentNumberPercent1,479,069,15999.586,198,4570.42 Election of Directors Each of the following 14 nominees proposed by management were elected directors of the Corporation: N
CALGARY, Alberta, May 01, 2024 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) held its annual meeting of shareholders on May 1, 2024. Each matter voted on is described in greater detail in the Corporation's 2024 Management Information Circular dated March 6, 2024. 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. Votes forVotes withheldNumberPercentNumberPercent1,488,986,08899.655,218,3420.35 Election of Directors Each of the following thirteen nominees proposed by management were elected directors of the Corporation: NomineeVo
CALGARY, Alberta, Dec. 02, 2020 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) and Headwater Exploration Inc. (TSX:HWX) are pleased to announce the closing of the acquisition by Headwater of Cenovus's assets in the Marten Hills area of Alberta. Pursuant to the transaction, Headwater acquired a 100% working interest in approximately 2,800 barrels per day of medium gravity oil production and 270 net sections of Clearwater rights. The total consideration paid by Headwater to Cenovus for the transaction consists of: $35 million in cash;50 million common shares of Headwater; and15 million purchase warrants exercisable at $2.00 per common share with a three-year term. Concurren
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CALGARY, Alberta, Aug. 22, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) today announced that it has entered into a definitive arrangement agreement to acquire MEG Energy Corp. (TSX:MEG) ("MEG") in a cash and stock transaction valued at $7.9 billion, inclusive of assumed debt. Under the terms of the agreement, Cenovus will acquire all of the issued and outstanding common shares of MEG for $27.25 per share, which will be paid 75% in cash and 25% in Cenovus common shares. Each MEG shareholder will have the option to elect to receive, for each MEG common share (i) $27.25 in cash; or (ii) 1.325 Cenovus common shares, subject to pro-ration based on a maximum amount of $5.2
$27.25 per share Purchase Price, payable 75% in cash and 25% in Cenovus shares, represents a 33% premium to MEG's unaffected 20-day volume-weighted share price as of May 15, 2025Cash and highly liquid share consideration provides MEG Shareholders with near-term value certaintyUpside participation in an industry-leading producer with significant scale and growth potentialAccelerates and de-risks realization of value from MEG's standalone planUnanimously approved by MEG's Board of Directors which recommends MEG Shareholders vote FOR the Transaction at a special meeting expected to be held in early October 2025CALGARY, AB, Aug. 22, 2025 /CNW/ - MEG Energy Corp. (TSX:MEG) ("MEG", or the "Company
CALGARY, Alberta, July 31, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) today announced its second-quarter 2025 financial and operating results. The company generated approximately $2.4 billion in cash from operating activities, $1.5 billion of adjusted funds flow and $355 million of free funds flow. Total upstream production was 765,900 barrels of oil equivalent per day (BOE/d)1, reflecting planned turnarounds at the Foster Creek and Sunrise oil sands assets, maintenance at offshore facilities and short-term production impacts from wildfire activity at Christina Lake. Downstream crude throughput was 665,800 barrels per day (bbls/d), representing an overall utilizatio
CALGARY, Alberta, July 24, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) will release its second-quarter 2025 results on Thursday, July 31, 2025. The news release will provide consolidated second-quarter operating and financial information. The company's financial statements will be available on Cenovus's website, cenovus.com. Second-quarter 2025 conference call: 9 a.m. MT (11 a.m. ET) For analysts wanting to join the call, please register in advance. To participate, you must complete the online registration form in advance of the conference call start time. Register ahead of time to receive a unique PIN to access the conference call via telephone. Once registe
CALGARY, Alberta, June 02, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. ("Cenovus" or the "Company") (TSX:CVE) (NYSE:CVE) announced today it will exercise its right to redeem the Company's 3.935% Series 7 Preferred Shares (the "Series 7 Preferred Shares") on June 30, 2025 (the "Redemption"). All 6 million Series 7 Preferred Shares outstanding will be redeemed at the price of $25.00 per share, for an aggregate amount payable to holders of $150 million, less required withholdings, if any, funded primarily from cash on hand. As previously announced, the Company's Board of Directors has declared a quarterly dividend of $0.24594 per Series 7 Preferred Share payable on June 30, 2025, to shareho
CALGARY, Alberta, May 08, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) today announced its first-quarter 2025 financial and operating results. The company generated more than $1.3 billion in cash from operating activities, $2.2 billion of adjusted funds flow and $983 million of free funds flow. Operating results in the quarter were strong, with Upstream production increasing to 818,900 barrels of oil equivalent per day (BOE/d)1 while Downstream crude throughput was 665,400 barrels per day (bbls/d), representing an overall utilization rate of 92%. The Board of Directors has approved an 11% increase in the base dividend to $0.80 per share annually, beginning in the seco
CALGARY, Alberta, May 01, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) will release its first-quarter 2025 results on Thursday, May 8, 2025. The news release will provide consolidated first-quarter operating and financial information. The company's financial statements will be available on Cenovus's website, cenovus.com. First-quarter 2025 conference call: 9 a.m. MT (11 a.m. ET) For analysts wanting to join the call, please register in advance at Conference Call registration. To participate, you must complete the online registration form in advance of the conference call start time. Register ahead of time to receive a unique PIN to access the conference call via tel
CALGARY, Alberta, Feb. 27, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. ("Cenovus" or the "Company") (TSX:CVE) (NYSE:CVE) announced today it will exercise its right to redeem the Company's 4.591% Series 5 Preferred Shares (the "Series 5 Preferred Shares") on March 31, 2025 (the "Redemption"). All 8 million Series 5 Preferred Shares outstanding will be redeemed at the price of $25.00 per share, for an aggregate amount payable to holders of $200 million, less required withholdings, if any, funded primarily from cash on hand. As previously announced, the Company's Board of Directors has declared a quarterly dividend of $0.28694 per Series 5 Preferred Share payable on March 31, 2025, to share
CALGARY, Alberta, Feb. 20, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) today announced its fourth-quarter and full-year 2024 financial and operating results. In the quarter, the company generated over $2.0 billion in cash from operating activities, $1.6 billion of adjusted funds flow and $123 million of free funds flow. The Upstream business continued to deliver strong performance, with production of 816,000 barrels of oil equivalent per day (BOE/d)1 in the quarter, including a new quarterly Oil Sands production record of 628,500 BOE/d. In the Downstream, total crude throughput increased by almost 24,000 barrels per day (bbls/d) from the previous quarter to 666,700 bb
CALGARY, Alberta, Feb. 13, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) will release its fourth-quarter and full-year 2024 results on Thursday, February 20, 2025. The news release will provide consolidated fourth-quarter operating and financial information. The company's financial statements will be available on Cenovus's website, cenovus.com. Conference call: 9 a.m. MT (11 a.m. ET) To join the conference call, please dial 1-800-206-4400 (toll-free in North America) or 1-289-514-5005 to reach a live operator who will place you into the call. It is recommended that participants dial in at least 10 minutes before the conference call begins.A live audio webcast will al