RBC Capital Raises Cenovus (CVE) Price Target to C$32, Maintains Outperform Rating

Core Insights - Cenovus Energy Inc. is recognized as one of the 13 Best Canadian Dividend Stocks for long-term investment [1] - RBC Capital has increased the price target for Cenovus to C$32 from C$30 while maintaining an Outperform rating [2] Financial Performance - Cenovus reported total revenues of C$13.2 billion in Q3, an increase from C$12.3 billion in Q2 2025 [3] - Upstream revenues were C$6.7 billion, slightly down from C$6.8 billion in the previous quarter, while Downstream revenues rose to C$8.4 billion from C$7.7 billion in Q2 [3] - The company returned C$1.3 billion to shareholders in the quarter, including C$918 million through share repurchases and C$356 million in dividends [4] Production Metrics - Upstream production reached a record 832,900 BOE/d in Q3, with Oil Sands production hitting approximately 642,800 BOE/d [4] - Cenovus operates as an integrated energy company involved in the development, production, refining, transportation, and marketing of crude oil, natural gas, and refined products [4]