5 Best Foreign Stocks With Dividends

This article presents an overview of the 5 Best Foreign Stocks With Dividends. For a detailed overview of such stocks, read our article, 12 Best Foreign Stocks With Dividends.

5. Cenovus Energy Inc (NYSE:CVE)

Number of Hedge Fund Investors: 41

Yet another Canadian dividend stock in our list of the best foreign stocks with dividends, Cenovus Energy Inc (NYSE:CVE) came on the radar of Goldman Sachs earlier this month as the firm added the stock in its list of energy picks.

“We see opportunities to add exposure to high-quality stocks at attractive valuations, but also remain selective. We see an improved risk-reward post the recent pullback in crude and Morgan Stanley economists have an above-consensus view on 2024 growth,” Morgan Stanley’s Devin McDermott said in a note.

L1 Long Short Fund made the following comment about Cenovus Energy Inc. (NYSE:CVE) in its Q3 2023 investor letter:

“Cenovus Energy Inc. (NYSE:CVE) (Long +23%) shares rallied as WTI oil prices rose to ~US$91/bbl over the month, the highest level since November 2022. The company also had tailwinds from higher refinery margins, particularly in North America which remains their key exposure. Cenovus continues to generate strong free cash flow at current oil price levels, with the long-life nature of its oil sands assets and its low cost of production providing a break-even oil price at around ~US$40/bbl. We estimate the company can reach its net debt target in early CY24, enabling a step-up in shareholder returns through on-market share buybacks.”