TD Securities Raises Cenovus Energy (CVE) Price Target After Review

Cenovus Energy Inc. (NYSE:CVE) is included among the 15 Global Dividend Stocks to Diversify Your Portfolio.

On December 3, TD Securities expert Menno Hulshof raised the firm’s terms people connected Cenovus Energy Inc. (NYSE:CVE) to C$29 from C$28 and kept a Buy standing connected the shares.

On December 11, the institution laid retired its 2026 superior fund and updated firm guidance. Cenovus Energy Inc. (NYSE:CVE) said it expects superior concern to onshore betwixt $5.0 cardinal and $5.3 cardinal successful 2026. That fig includes astir $350 cardinal tied to turnaround costs, which volition beryllium capitalized during the year. Excluding those turnaround items, superior spending is projected astatine $4.7 cardinal to $5.0 billion.

Roughly $850 cardinal of that full relates to the precocious acquired Christina Lake North asset, formerly MEG’s Christina Lake.

Most of the fund is geared toward maintaining the existing business. Sustaining capital, excluding turnarounds, is expected to scope from $3.5 cardinal to $3.6 billion. Management said this level of spending is designed to enactment harmless and reliable operations portion holding basal accumulation steady. Beyond that, Cenovus Energy Inc. (NYSE:CVE) plans to nonstop $1.2 cardinal to $1.4 cardinal toward maturation projects, including an enlargement astatine Christina Lake North.

The institution besides outlined plans for its accepted portfolio, expecting to put betwixt $450 cardinal and $500 cardinal successful those assets during 2026, with astir of the spending aimed astatine sustaining production. Total accepted output is forecast astatine 120,000 to 125,000 BOE per day, with operating costs estimated betwixt $11.00 per BOE and $12.00 per BOE.

Cenovus Energy Inc. (NYSE:CVE) operates arsenic an integrated vigor company, with lipid and earthy state accumulation successful Canada and the Asia Pacific region, alongside upgrading, refining, and selling operations crossed Canada and the United States.

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