Cenovus Energy (NYSE:CVE) Rating Lowered to Outperform at Raymond James Financial

Cenovus Energy (NYSE:CVE) (TSE:CVE) was downgraded by investment analysts at Raymond James Financial from a “strong-buy” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday.

CVE has been the topic of a number of other reports. BMO Capital Markets restated an “outperform” rating on shares of Cenovus Energy in a report on Friday, February 20th. The Goldman Sachs Group raised their price objective on Cenovus Energy from $22.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. Zacks Research upgraded Cenovus Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Cenovus Energy in a report on Friday, April 24th. Finally, UBS Group restated a “buy” rating on shares of Cenovus Energy in a report on Thursday, April 9th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Cenovus Energy has a consensus rating of “Buy” and a consensus price target of $29.67.

Cenovus Energy Trading Down 5.4%

NYSE CVE traded down $1.65 during trading hours on Wednesday, hitting $28.80. 9,937,821 shares of the company’s stock were exchanged, compared to its average volume of 13,812,258. The business’s 50 day moving average is $25.08 and its 200-day moving average is $20.58. The firm has a market capitalization of $53.99 billion, a P/E ratio of 18.88 and a beta of 0.37. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.04 and a current ratio of 1.57. Cenovus Energy has a 12-month low of $11.60 and a 12-month high of $30.84.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Thursday, February 19th. The oil and gas company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.08. The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $10.89 billion. Cenovus Energy had a return on equity of 13.25% and a net margin of 7.92%.During the same period last year, the business posted $0.07 EPS. As a group, analysts anticipate that Cenovus Energy will post 2.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Cenovus Energy

Large investors have recently modified their holdings of the stock. Financial Management Professionals Inc. acquired a new stake in shares of Cenovus Energy in the fourth quarter valued at about $25,000. Transamerica Financial Advisors LLC increased its holdings in Cenovus Energy by 1,302.7% during the 4th quarter. Transamerica Financial Advisors LLC now owns 1,543 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 1,433 shares during the last quarter. NBC Securities Inc. increased its holdings in Cenovus Energy by 961.5% during the 4th quarter. NBC Securities Inc. now owns 1,656 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 1,500 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in Cenovus Energy during the 4th quarter worth approximately $38,000. Finally, Geneos Wealth Management Inc. increased its holdings in Cenovus Energy by 74.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 3,253 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 1,384 shares during the last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.

Cenovus Energy News Roundup

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

• Positive Sentiment: Cenovus beat EPS expectations — reported $0.61 vs the Zacks consensus $0.56, showing stronger profitability year-over-year. Cenovus Energy (CVE) Beats Q1 Earnings Estimates
• Positive Sentiment: Very strong cash flow: management reported roughly $3.4B of adjusted funds flow and about $2.2B of free funds flow for Q1 — supports buybacks/dividends and reduces leverage risk. Cenovus announces first-quarter 2026 results
• Positive Sentiment: Operational strength: record upstream production (~972,100 BOE/d) and very high downstream utilization (~97%) supported higher profit. Canada’s Cenovus Energy posts higher first-quarter profit
• Neutral Sentiment: Analyst/quant frameworks still view CVE as a strong-growth candidate based on style scores and recent momentum — useful context but not an immediate catalyst. Here’s Why Cenovus Energy (CVE) is a Strong Growth Stock
• Neutral Sentiment: Prior pre-earnings coverage flagged CVE as potentially undervalued heading into results — a longer-term valuation angle, but less decisive for near-term price movement. CVE Appears Undervalued Ahead of Q1 Earnings
• Negative Sentiment: Revenue and some operating metrics were mixed versus Street expectations — certain top-line/throughput items came in softer than some models, which can temper enthusiasm despite the EPS beat. Cenovus (CVE) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
• Negative Sentiment: Shares had been trading near 52-week highs and recently rallied, increasing the chance of profit-taking after the print; that, combined with lighter-than-average intraday volume, can amplify downside. 4 Stocks Trading Near 52-Week High With More Upside Potential

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.