TSX:CVEOil and Gas
Cenovus Energy (TSX:CVE) Stock Looks Cheap But Earnings May Cool
Cenovus Energy stock came into this earnings print already running hot, up about 21% over the past month and sitting at CA$42.48 at yesterday’s close. The market was leaning in. The headline is that Cenovus just delivered the strongest quarter in its history, with Q2 2026 net income of C$2.87b and record operating cash generation from its integrated oil sands and refining system.
The twist for investors is the time horizon. The trailing picture is powerful, and the current P/E of 11.8x sits...