Cenovus Energy Inc is a Canadian integrated energy group. The group's upstream operations include oil sands projects in northern Alberta; thermal and conventional crude oil, natural gas, and natural gas liquids (NGLs) projects across Western Canada; crude oil production offshore Newfoundland and Labrador; and natural gas and NGLs production offshore China and Indonesia. Its downstream operations include upgrading and refining operations in Canada and the U.S., and commercial fuel operations across Canada. The group's reportable segments are: Oil Sands, Conventional, Offshore, Canadian Refining, U.S Refining, and Corporate and Eliminations. Maximum revenue is generated from its Oil Sands segment. Geographically, the group derives maximum revenue from the U.S., followed by Canada and China.
The chart shows the growth of an initial investment of $10,000 in Cenovus Energy Inc., comparing it to the performance of the S&P 500 index. All prices have been adjusted for splits and dividends.
Returns By Period
Cenovus Energy Inc. (CVE) has returned 56.51% so far this year and 145.93% over the past 12 months. Looking at the last ten years, CVE has achieved an annualized return of 7.61%, underperforming the Benchmark (SPY), which averaged 12.23% per year.
CVE
1M15.78%
6M55.05%
YTD56.51%
1Y145.93%
5Y28.13%
10Y7.61%
Benchmark (SPY)
1M-3.85%
6M-2.35%
YTD-4.36%
1Y34.06%
5Y9.80%
10Y12.23%
Monthly Returns
The table below presents the monthly returns of Cenovus Energy Inc. (CVE) with color gradation from worst to best to easily spot seasonal factors.
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
2026
16.21%
16.81%
13.38%
0.99%
2025
-5.49%
-1.49%
-0.14%
-15.38%
12.46%
0.89%
11.82%
9.78%
2.41%
-0.12%
5.68%
-5.37%
2024
-3.75%
7.26%
13.19%
2.49%
0.58%
-5.75%
1.26%
-7.90%
-8.03%
-2.72%
-2.53%
-4.48%
2023
4.50%
-7.10%
-4.95%
-9.19%
-3.62%
5.93%
10.97%
6.01%
3.07%
-8.36%
-8.07%
-5.83%
2022
18.10%
8.28%
4.51%
10.86%
27.31%
-18.76%
-0.31%
0.48%
-16.38%
24.61%
-3.82%
-3.91%
2021
-3.75%
22.89%
-0.66%
2.78%
3.44%
12.05%
-15.76%
-0.60%
20.62%
18.73%
-2.31%
-0.73%
2020
-14.44%
-15.48%
-73.07%
88.60%
21.29%
8.60%
-5.11%
4.89%
-17.41%
-13.91%
48.50%
18.66%
2019
13.39%
16.54%
-5.86%
10.85%
-17.02%
6.14%
3.11%
-4.59%
10.22%
-9.49%
3.73%
13.92%
2018
3.69%
-23.96%
17.96%
18.84%
5.51%
-1.98%
-2.52%
-6.43%
8.55%
-17.62%
-13.07%
-13.32%
2017
-11.09%
-7.66%
-11.65%
-12.07%
-10.17%
-17.19%
14.27%
-6.68%
27.81%
-0.92%
-3.55%
-6.07%
2016
24.33%
-4.44%
-7.43%
3.47%
2.92%
0.21%
6.25%
-5.26%
Performance Indicators
The charts below present risk-adjusted performance metrics for Cenovus Energy Inc. (CVE) and compare them to a Benchmark (SPY). These indicators evaluate an investment's returns against its associated risks.
Sharpe ratio
Sortino ratio
Omega ratio
Calmar ratio
Martin ratio
sharpe ratio
The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.
These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns.
The chart below shows the rolling Sharpe ratio of CVE compared to the benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.
Volatility Chart
The current Cenovus Energy Inc. volatility is 1.98%, representing the standart deviation of percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. It shows the maximum percentage drop from a peak to a trough over a specified period, indicating the risk of significant losses. Although chart shows positive values, it represents the percentage drop from the peak, so a value of 10% means the portfolio has dropped 10% from its highest point.
Following Middle East hostilities, a significant oil price divergence has emerged between Western benchmarks and Middle Eastern markets, with Oman crude hitting record $173/barrel. While the U.S. is better insulated due to strong domestic production and strategic reserves, Europe faces severe risks with natural gas storage at five-year lows. The article identifies U.S. energy stocks and gold as primary investment opportunities, with energy producers benefiting from higher oil prices and gold positioned to benefit from fiscal pressures and stagflation risks.
Investing.com•Frank Holmes
AI Insight
Identified by Goldman Sachs as a top oil producer with favorable risk-reward profiles; benefits from elevated oil prices and energy sector strength
Goldman Sachs upgraded its oil price forecasts following the Strait of Hormuz closure, expecting Brent crude to average $80-$100/barrel in 2026 and $75/barrel in 2027. The bank identified seven energy stocks as winners, with Permian-focused E&Ps and major oil companies positioned to benefit from higher oil prices and strong cash flow generation through major projects.
Benzinga•Piero Cingari
AI Insight
Leading Canadian oil name with 25% estimated total return as West White Rose project approaches first oil by end of Q2 2026.
Dividend Select 15 Corp. announced its monthly distribution of $0.06133 per Equity share, payable March 10, 2026 to shareholders of record as of February 27, 2026. The distribution is based on a 10% annualized yield calculated using the volume-weighted average market price (VWAP) of $7.36 over the last three trading days of February. Since inception, shareholders have received cumulative distributions of $11.57 per share.
GlobeNewswire Inc.•
AI Insight
Listed as one of 15 portfolio holdings in a dividend-focused fund; no specific performance or news provided in the article.
Law firm Burnet, Duckworth & Palmer LLP (BD&P) advised on eight of the 10 largest upstream energy transactions in Canada in 2025, including Whitecap Resources' $15 billion acquisition of Veren Energy and Cenovus Energy's $8.6 billion acquisition of MEG Energy, cementing its position as a leader in complex energy M&A deals.
GlobeNewswire Inc.•
AI Insight
Company successfully acquired MEG Energy for $8.6 billion, consolidating two major oilsands producers and marking a significant strategic expansion in Canada's upstream landscape.
Cenovus Energy announced its 2026 capital budget of $5.0-5.3 billion, targeting upstream production growth of 4% and maintaining a focus on cost control, debt reduction, and shareholder returns following the MEG Energy acquisition.
GlobeNewswire Inc.•Cenovus Energy Inc.
AI Insight
Positive outlook with planned production growth, strategic investments, cost management, and balanced approach to shareholder returns
Cenovus Energy has priced a $2.6 billion offering of senior unsecured notes across Canadian and U.S. dollar denominations, with varying coupon rates and maturities. The proceeds will be used to redeem existing notes and for general corporate purposes.
GlobeNewswire Inc.•Cenovus Energy Inc.
AI Insight
The company is raising significant capital through a strategic debt offering, demonstrating financial flexibility and ability to refinance existing obligations
Cenovus Energy completed its acquisition of MEG Energy Corp., adding approximately 110,000 barrels per day of low-cost, long-life oil sands production to its portfolio for a total consideration of $4.19 billion.
Benzinga•Globe Newswire
AI Insight
Management expressed excitement about the strategic fit, high-quality assets, and potential synergies that will create significant value in both short and long term
Cenovus Energy has received TSX approval to renew its share buyback program, allowing purchase of up to 120,250,990 common shares over the next 12 months, consistent with its capital allocation strategy.
GlobeNewswire Inc.•Cenovus Energy Inc.
AI Insight
The company is proactively managing its capital structure, demonstrating confidence in its valuation by repurchasing shares and showing a strategic approach to returning value to shareholders
Cenovus Energy reported record upstream production of 832,900 BOE/d and downstream crude throughput of 710,700 bbls/d in Q3 2025. The company generated $2.1 billion in cash from operating activities and announced an amended agreement to acquire MEG Energy, with the transaction expected to close in mid-November.
GlobeNewswire Inc.•Cenovus Energy Inc.
AI Insight
Strong financial performance with record production volumes, increased revenues, higher operating margins, and strategic growth projects nearing completion
Phillips 66 reported strong Q3 earnings, beating Wall Street estimates with $2.52 adjusted earnings per share and $34.98 billion in revenue. The company achieved record 99% refining utilization and continues progress on key polymer projects.
Benzinga•Lekha Gupta
AI Insight
Mentioned in context of selling a 50% stake in WRB Refining LP to Phillips 66, with no strong positive or negative implications
