11 Best Stocks Under $15 to Buy According to Hedge Funds

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8. Cenovus Energy Inc. (NYSE:CVE)

Share Price: $12.04

Number of Hedge Fund Holders: 39

Cenovus Energy Inc. (NYSE:CVE) is a Canadian-based integrated energy company. It has oil and natural gas production operations in Canada and the Asia Pacific region, and upgrading, refining, and marketing operations in Canada and the US. Cenovus Energy Inc. (NYSE:CVE) ranks among the best stocks under $15 to buy now.

The company is making strategic moves to grow and optimize its production through large-scale projects and upgrades with an aim to increase output and efficiency in the future. In Q4 2024, Cenovus Energy Inc. (NYSE:CVE) mechanically completed the Narrows Lake pipeline, which will connect the field to the Christina Lake processing facility. The company announced plans to begin steam injection in the spring and this project is on track to produce first oil by mid-2025. At the Sunrise site, Cenovus Energy Inc. (NYSE:CVE) continued to ramp up production in Q4 2024 after bringing 2 new well pads online in Q3 2024. The company plans to add one more pad in early 2025. Additionally, Cenovus Energy Inc. (NYSE:CVE) completed major work for the West White Rose project in Q4 2024. In 2025, the company’s focus for this project will be on the installation and commissioning of the platform. The West White Rose project is nearly 90% complete and is expected to produce its first oil in 2026.

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