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

Cenovus Energy Inc. (NYSE:CVE) is included among the 15 Best Natural Gas and Oil Dividend Stock to Buy Now.

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

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Cenovus Energy Inc. (NYSE:CVE) made headlines this summer when the company announced that it would acquire MEG Energy in a C$7.9 billion cash-and-stock deal, creating one of the largest oil sands companies in Canada. However, the deal has fallen into controversy with a rival hostile bid in place and some shareholders criticizing Cenovus for undervaluing what is Canada’s last remaining pure-play oil sands company. That said, MEG’s board has endorsed CVE’s bid, which is set to be voted on by shareholders in October.

Cenovus Energy Inc. (NYSE:CVE) remains committed to its shareholders with returns of $819 million through dividends, share buybacks, and the redemption of $150 million of preferred shares in the second quarter of 2025. The company announced a quarterly dividend of C$0.2 per share in July and boasts an annual dividend yield of 3.42% as of the writing of this piece.

The share price of Cenovus Energy Inc. (NYSE:CVE) has surged by more than 21% over the last six months.

Cenovus Energy Inc. (NYSE:CVE) is an integrated oil and natural gas company, based in Calgary, Alberta, with operations that span Canada, the United States, and the Asia Pacific region.

While we acknowledge the potential of CVE as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CVE and that has a 100x upside potential, check out our report about the cheapest AI stock.

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