Cenovus Energy to Redeem Series 7 Preferred Shares

Cenovus Energy ( (TSE:CVE) ) just unveiled an update.

Cenovus Energy Inc. has announced the redemption of its 3.935% Series 7 Preferred Shares, effective June 30, 2025, at a price of $25.00 per share, totaling $150 million. This move, funded primarily from cash on hand, marks the final dividend payment for these shares and reflects Cenovus’s strategic financial management, potentially impacting its market positioning and shareholder relations.

The most recent analyst rating on (TSE:CVE) stock is a Sell with a C$19.00 price target. To see the full list of analyst forecasts on Cenovus Energy stock, see the TSE:CVE Stock Forecast page.

Spark’s Take on TSE:CVE Stock

According to Spark, TipRanks’ AI Analyst, TSE:CVE is a Outperform.

Cenovus Energy’s strong operational and financial performance, along with attractive valuation metrics, are key strengths. Challenges with debt levels and downstream margins are being actively addressed, supporting a positive outlook. Mixed technical indicators suggest cautious optimism in the near term.

To see Spark’s full report on TSE:CVE stock, click here.

More about Cenovus Energy

Cenovus Energy Inc. is an integrated energy company with operations in oil and natural gas production in Canada and the Asia Pacific region, alongside upgrading, refining, and marketing operations in Canada and the United States. The company emphasizes safe, innovative, and cost-efficient asset management while integrating environmental, social, and governance considerations into its business plans.

YTD Price Performance: -16.22%

Average Trading Volume: 6,840,388

Technical Sentiment Signal: Sell

Current Market Cap: C$32.79B

See more insights into CVE stock on TipRanks’ Stock Analysis page.