Cenovus Energy (CVE) – Among the Best Oil and Gas Dividend Stocks to Buy Now

Core Viewpoint - Cenovus Energy Inc. is recognized as one of the best dividend stocks in the oil and gas sector, particularly following its significant acquisition of MEG Energy, which has sparked both interest and controversy in the market [2][3]. Group 1: Acquisition and Market Position - Cenovus Energy announced the acquisition of MEG Energy for C$7.9 billion, aiming to create one of Canada's largest oil sands companies [2]. - The acquisition has faced challenges, including a rival hostile bid and criticism from some shareholders regarding the valuation of MEG Energy [2]. - Despite the controversy, MEG's board has endorsed Cenovus's bid, which is scheduled for a shareholder vote in October [2]. Group 2: Financial Performance and Shareholder Returns - In the second quarter of 2025, Cenovus Energy returned $819 million to shareholders through dividends, share buybacks, and the redemption of preferred shares [3]. - The company declared a quarterly dividend of C$0.2 per share in July, resulting in an annual dividend yield of 3.42% [3]. - Cenovus Energy's share price has increased by over 21% in the past six months, indicating strong market performance [3]. Group 3: Company Overview - Cenovus Energy Inc. is an integrated oil and natural gas company headquartered in Calgary, Alberta, with operations across Canada, the United States, and the Asia Pacific region [4].