Cenovus Energy Inc
CVE
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+ FollowMarket Cap$55.68B
Close$
Earnings Call Q4 2025
February 19, 2026 - AI Summary
Strong Operational Performance: Cenovus reported record upstream production of 834,000 BOE per day in 2025, a 3% increase from 2024 (excluding MEG acquisition impact). The company achieved record production rates at oil sands assets, with fourth-quarter production hitting 918,000 BOE per day.
Successful MEG Integration: The acquisition of MEG Energy has strengthened Cenovus' position in heavy oil production, adding over 100,000 barrels a day of high-quality resource. Management is confident in achieving $150 million in annual synergies in 2026 and $400 million by 2028, with ongoing delineation efforts expected to yield additional production improvements.
Downstream Resilience: Despite weak crack spreads, the downstream segment posted a $149 million operating margin in Q4, with an impressive adjusted market capture rate of 95%. This was driven by operational reliability and effective commercial optimization, hinting at potential for similar performance in the future amidst market fluctuations.
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$32.62
13.5% upside
Current Fair Value
13.5% upsideUndervalued by 13.5% based on the discounted cash flow analysis.
Share Statistics
| Market cap | $55.68 Billion |
|---|---|
| Enterprise Value | $64.14 Billion |
| Dividend Yield | $0.59 (1.94%) |
| Earnings per Share | $2.17 |
| Beta | 0.5 |
| Outstanding Shares | 1,860,129,000 |
Return
| Return on Equity | 19.48% |
|---|---|
| Return on Assets | 10.23% |
| Return on Invested Capital | 15.81% |
Valuation & Multiples
| P/E Ratio | 11.71 |
|---|---|
| PEG | 4.93 |
| Price to Sales | 1.03 |
| Price to Book Ratio | 1.6 |
| Enterprise Value to Revenue | 1.19 |
| Enterprise Value to EBIT | 7.02 |
| Enterprise Value to Net Income | 9 |
| Total Debt to Enterprise | 0.18 |
| Debt to Equity | 0.34 |
Revenue Sources
No data
Insider Trades
Last Earnings Call
Report Date
July 30, 2026
EPS Estimate
$1.11
Average shareholder expectationRevenue Estimate
$11.87 B
Average shareholder expectationNext Earnings Call
Expected Date
October 30, 2026
EPS Estimate
$0.83
Average shareholder expectationRevenue Estimate
$10.82 B
Average shareholder expectationInstitutional Put/Call Ratio
Market sentiment based on institutional option activity.
| Put/Call Ratio | 0.0000▼ 138.05% |
|---|---|
| Total Calls | -▼ 100.00% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 1.40%▼ 51.87% |
|---|---|
| Total Invested | $660.70M▼ 97.42% |
| Investors Holding | 140▼ 358.00% |
ESG Score
No data
About Cenovus Energy Inc
2,413 employees
CEO: Alexander Pourbaix Cenovus Energy Inc. is a Canadian integrated oil and natural gas company. It is committed to maximizing value by sustainably developing its assets in a safe, innovative and cost-efficient manner, integrating environmental, social and gov...