Cenovus Energy
About: Cenovus Energy Inc is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 786 thousand barrels of oil equivalent per day in 2022. The company had upstream projects across Western Canada; crude oil production and natural gas and NGLs production offshore China and Indonesia. The downstream operations include upgrading and refining operations in Canada and the U.S., and commercial fuel operations across Canada.
Employees: 7,150
Fund manager confidence
Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)
0.98% more ownership
Funds ownership: 46.72% [Q3] → 47.7% (+0.98%) [Q4]
5% less funds holding
Funds holding: 416 [Q3] → 395 (-21) [Q4]
8% less capital invested
Capital invested by funds: $14.6B [Q3] → $13.3B (-$1.23B) [Q4]
19% less first-time investments, than exits
New positions opened: 51 | Existing positions closed: 63
22% less repeat investments, than reductions
Existing positions increased: 125 | Existing positions reduced: 161
28% less call options, than puts
Call options by funds: $165M | Put options by funds: $229M
36% less funds holding in top 10
Funds holding in top 10: 14 [Q3] → 9 (-5) [Q4]
Research analyst outlook
1 Wall Street Analyst provided 1 year price targets over the past 3 months
1 analyst rating
RBC Capital Greg Pardy 43% 1-year accuracy 6 / 14 met price target | 85%upside $25 | Outperform Maintained | 21 Feb 2025 |
Financial journalist opinion
Based on 14 articles about CVE published over the past 30 days
