CENOVUS ENERGY INC.
In the published model solve dated 2026-Q2, anchored at $29.28, CENOVUS ENERGY INC. (CVE) is priced for +16.3% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 24, 2026 from SEC EDGAR filings.
• Cenovus now produces and refines its own barrels at scale, with upstream output hitting a record 972,100 BOE/d in the first quarter of 2026 after the MEG Energy assets came in, and roughly half of reported revenue is booked in the United States because the company owns the plants that finish the crude [Source: Cenovus Q1 2026 results release, May 6, 2026]. • What the price is paying for is operating profit compounding at about 16.3% a year, which has to be delivered by a business whose larges
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448 institutional managers reported holding CVE in 13F filings for the quarter ended 2026-03-31. Together they hold about 54% of the company; the top 10 hold 27%. 89 opened new positions that quarter. Held by Capital Group (American Funds), Vanguard Group, FMR (Fidelity), among others. On the short side, 47.0M shares were sold short as of the 2026-06-15 count, about 3% of shares outstanding (5.3 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
CVE has cut its share count 11.3% over the past five years. It pays a dividend, and has for 2 years running. Cash returned over the past three years: $1.05B in dividends.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 24, 2026
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