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 |
|---|---|---|---|
| 10/9/2025 | Outperform → Strong Buy | Raymond James | |
| 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 |
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Final Order for the Cenovus Transaction granted by the Court of King's Bench of AlbertaCenovus Transaction anticipated to close Thursday, November 13, 2025Preliminary election results to determine the form of consideration to be received by MEG Shareholders indicate pro-rationing of Share Consideration electionsCALGARY, AB, Nov. 12, 2025 /CNW/ - MEG Energy Corp. (TSX:MEG) ("MEG", or the "Company") is pleased to announce that the Court of King's Bench of Alberta has granted the final order in respect of the previously announced plan of arrangement under Section 193 of the Business Corporations Act (Alberta) (the "Cenovus Transaction") involving MEG, holders ("MEG Shareholders") of common shar
CALGARY, Alberta, Nov. 07, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) announced today that the Toronto Stock Exchange ("TSX") has approved the renewal of the company's normal course issuer bid ("NCIB") to purchase up to 120,250,990 common shares during the 12-month period commencing November 11, 2025 and ending November 10, 2026. Cenovus's renewal of its share buyback program is consistent with the company's capital allocation framework, which supports enhancing value for investors by returning cash to shareholders, generating strong returns on capital investment and maintaining its resilient balance sheet. Cenovus believes there are times when the market price of i
86% of the MEG Shares represented at the Meeting were voted in favour of the Cenovus TransactionCenovus Transaction anticipated to close in mid-NovemberCALGARY, AB, Nov. 6, 2025 /CNW/ - MEG Energy Corp. (TSX:MEG) ("MEG", or the "Company") is pleased to announce that today at its special meeting (the "Meeting") of holders ("MEG Shareholders") of common shares of MEG ("MEG Shares"), MEG Shareholders voted in favour of the previously announced plan of arrangement (the "Cenovus Transaction") involving MEG, MEG Shareholders and Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) ("Cenovus"). At the Meeting, the special resolution (the "Transaction Resolution") approving the
All amounts in Canadian dollars unless specified. CALGARY, AB, Oct. 31, 2025 /CNW/ - MEG Energy Corp. (TSX:MEG) ("MEG", or the "Company") is providing additional disclosure regarding the previously announced asset transaction between Strathcona Resources Ltd. (TSX:SCR) ("Strathcona") and Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) ("Cenovus"), as initially disclosed in its press release of October 27, 2025. As previously announced, MEG entered into a second amending agreement (the "Second Amending Agreement") with Cenovus to amend the arrangement agreement between MEG and Cenovus dated August 21, 2025, as amended on October 7, 2025 (the "First Amending Agreeme
CALGARY, Alberta, Oct. 31, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) today announced its third-quarter 2025 financial and operating results. The company generated approximately $2.1 billion in cash from operating activities, $2.5 billion of adjusted funds flow and $1.3 billion of free funds flow. Operating results in the quarter included record Upstream production of 832,900 barrels of oil equivalent per day (BOE/d)1 and record Downstream crude throughput of 710,700 barrels per day (bbls/d), representing an overall utilization rate of 99%. Highlights Highest recorded Upstream production of 832,900 BOE/d in the third quarter, including record production of approxim
Deadline for MEG Shareholders to deposit their proxies to vote on the Cenovus Transaction extended to Wednesday, November 5, 2025 at 9:00 a.m. (Calgary Time)As of today's date, of those MEG Shares represented by proxy or expected to be voted in person at the Meeting, 86% of all such MEG Shares, and 83% of all such MEG Shares, excluding the MEG Shares held by Strathcona, were FOR the Cenovus TransactionDeadline for MEG Shareholders to make an election with respect to their preferred form of consideration to be received under the Cenovus Transaction extended to Wednesday, November 5, 2025 at 4:30 p.m. (Calgary Time)MEG Board recommends MEG Shareholders vote FOR the Cenovus TransactionFinal Ord
CALGARY, Alberta, Oct. 27, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) today announced that it has entered into a second amending agreement in respect of the arrangement agreement dated August 21, 2025 (as amended, the "Agreement") to acquire MEG Energy Corp. (TSX:MEG) ("MEG"). Under the terms of the Agreement, each MEG shareholder will now have the option to elect to receive, for each MEG common share, (i) $30.00 in cash; or (ii) 1.255 Cenovus common shares, subject to rounding and pro-ration based on a maximum amount of $3.8 billion in cash and a maximum of 159.6 million Cenovus common shares. The pro-rated consideration represents a mix of 50% cash and 50% Cenovus
Improved Transaction Consideration of $30.00 per MEG Share Improved Transaction Consideration payable 50% in cash and 50% in highly liquid Cenovus SharesThe MEG Board recommends MEG Shareholders vote FOR the Improved Cenovus TransactionThe Meeting date remains unchanged and the Meeting will occur on Thursday, October 30, 2025 at 9:00 a.m. (Calgary Time)For questions or assistance with voting or making elections, contact Sodali & Co., 1.888.999.2785 or 1.289.695.3075 for banks, brokers, and callers outside North America, [email protected] amounts in Canadian dollars unless specified. CALGARY, AB, Oct. 27, 2025 /CNW/ - MEG Energy Corp. (TSX:MEG) ("MEG" or the "Company") today a
CALGARY, Alberta, Oct. 23, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) will release its third-quarter 2025 results on Friday, October 31, 2025. The news release will provide consolidated third-quarter operating and financial information. The company's financial statements will be available on Cenovus's website, cenovus.com. Third-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 in the conference call, complete the online registration form in advance of the call start time. Once registered, you will receive a unique PIN to access the call by phone. You can either dial into the conf
CALGARY, Alberta, Oct. 21, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) today announced that the special meeting of holders of common shares of MEG Energy Corp. ("MEG") related to Cenovus's proposed acquisition of MEG has been postponed, pursuant to Cenovus exercising its contractual postponement right, from October 22, 2025, to October 30, 2025. The deadline for submitting proxies has been extended to October 29, 2025, at 9:00 a.m. (Calgary Time). At the time of the postponement, approximately 63% of the MEG common shares represented by proxy or expected to be voted in person at the meeting are FOR the approval of the transaction, or over 75% excluding Strathcona Res
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)
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)
6-K - CENOVUS ENERGY INC. (0001475260) (Filer)
6-K - CENOVUS ENERGY INC. (0001475260) (Filer)
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CALGARY, Alberta, Oct. 31, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) today announced its third-quarter 2025 financial and operating results. The company generated approximately $2.1 billion in cash from operating activities, $2.5 billion of adjusted funds flow and $1.3 billion of free funds flow. Operating results in the quarter included record Upstream production of 832,900 barrels of oil equivalent per day (BOE/d)1 and record Downstream crude throughput of 710,700 barrels per day (bbls/d), representing an overall utilization rate of 99%. Highlights Highest recorded Upstream production of 832,900 BOE/d in the third quarter, including record production of approxim
Deadline for MEG Shareholders to deposit their proxies to vote on the Cenovus Transaction extended to Wednesday, November 5, 2025 at 9:00 a.m. (Calgary Time)As of today's date, of those MEG Shares represented by proxy or expected to be voted in person at the Meeting, 86% of all such MEG Shares, and 83% of all such MEG Shares, excluding the MEG Shares held by Strathcona, were FOR the Cenovus TransactionDeadline for MEG Shareholders to make an election with respect to their preferred form of consideration to be received under the Cenovus Transaction extended to Wednesday, November 5, 2025 at 4:30 p.m. (Calgary Time)MEG Board recommends MEG Shareholders vote FOR the Cenovus TransactionFinal Ord
Improved Transaction Consideration of $30.00 per MEG Share Improved Transaction Consideration payable 50% in cash and 50% in highly liquid Cenovus SharesThe MEG Board recommends MEG Shareholders vote FOR the Improved Cenovus TransactionThe Meeting date remains unchanged and the Meeting will occur on Thursday, October 30, 2025 at 9:00 a.m. (Calgary Time)For questions or assistance with voting or making elections, contact Sodali & Co., 1.888.999.2785 or 1.289.695.3075 for banks, brokers, and callers outside North America, [email protected] amounts in Canadian dollars unless specified. CALGARY, AB, Oct. 27, 2025 /CNW/ - MEG Energy Corp. (TSX:MEG) ("MEG" or the "Company") today a
CALGARY, Alberta, Oct. 23, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) will release its third-quarter 2025 results on Friday, October 31, 2025. The news release will provide consolidated third-quarter operating and financial information. The company's financial statements will be available on Cenovus's website, cenovus.com. Third-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 in the conference call, complete the online registration form in advance of the call start time. Once registered, you will receive a unique PIN to access the call by phone. You can either dial into the conf
CALGARY, Alberta, Oct. 15, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) today announced that it has acquired an additional 3,276,460 common shares of MEG Energy Corp. ("MEG") through the facilities of the Toronto Stock Exchange or other Canadian alternative exchanges or markets. Immediately following the acquisition of the common shares, Cenovus beneficially owned, directly or indirectly, and exercised control or direction over, an aggregate of 25,000,000 MEG common shares representing 9.8% of the 254,378,035 MEG common shares issued and outstanding, all of which have been acquired by Cenovus since Oct. 8, 2025. The MEG common shares were acquired by Cenovus in furthe
CALGARY, Alberta, Oct. 14, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) today announced that it has acquired an aggregate of 21,723,540 common shares of MEG Energy Corp. ("MEG") through the facilities of the Toronto Stock Exchange or other Canadian alternative exchanges or markets. Immediately following the acquisition of the common shares, Cenovus beneficially owned, directly or indirectly, and exercised control or direction over an aggregate of MEG common shares representing 8.5% of the 254,378,035 MEG common shares issued and outstanding, all of which have been acquired by Cenovus since Oct. 8, 2025. The MEG common shares were acquired by Cenovus in furtherance of
Improved Cenovus Transaction involves consideration of $29.79 per MEG Share as of close of market on October 10, 2025MEG has filed the Amending Agreement in connection with the Improved Cenovus TransactionThe MEG Shareholder meeting has been postponed to Wednesday, October 22, 2025 at 9:00 a.m. (Calgary Time) to allow MEG Shareholders additional time to deposit proxies and vote FOR the Improved Cenovus TransactionImproved Cenovus Transaction anticipated to close on or about Monday, October 27, 2025For questions or assistance with voting or making elections, contact Sodali & Co., 1.888.999.2785 or 1.289.695.3075 for banks, brokers, and callers outside North America, [email protected]
CALGARY, Alberta, Oct. 08, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) today announced that it has entered into an amending agreement in respect of the arrangement agreement dated August 21, 2025 (as amended, the "Amended Agreement") to acquire MEG Energy Corp. (TSX:MEG) ("MEG"). Under the terms of the Amended Agreement, each MEG shareholder will have the option to elect to receive, for each MEG common share, (i) $29.50 in cash; or (ii) 1.240 Cenovus common shares, subject to rounding and pro-ration based on a maximum amount of $3.8 billion in cash and a maximum of 157.7 million Cenovus common shares. The pro-rated consideration represents a mix of 50% cash and 50% C
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
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Raymond James upgraded Cenovus Energy from Outperform to Strong Buy
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
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Live Leadership Updates
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