Jefferies increased its price target for Cenovus Energy to C$54 from C$51, maintaining a Buy rating. Cenovus is expanding its oil production through acquisitions of MEG Energy and a planned deal for Athabasca Oil, aiming to boost production and reserves. The company expects significant growth, targeting 115,000 barrels per day of thermal production by 2032 and $85 million in annual synergies from these deals. Current production stands at 970,000 barrels of oil equivalent per day, with plans to add nearly 40,000 barrels per day by 2028 through $400 million in growth capital.
As of Oct 19, 2026 20:22 WIB, Cenovus Energy (CVE) trades at USD 32.75 on Pluang, slightly below its 52-week high of USD 33.92 but well above the 52-week low of USD 15.85. Despite a 0.58% decline on the day, CVE maintains a solid market cap of $60.64 billion and offers a dividend yield of 1.88%. This positions Cenovus as a relatively stable energy stock compared to its recent price range.
