Cenovus agrees to buy Athabasca Oil and Cenovus Energy stock costs EUR 28.35

Published on 10/13/2026 at 12:33 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter revenue reached CAD 17.4 billion. For Cenovus Energy stock, net income was CAD 2.87 billion and diluted EPS CAD 1.54.

Cenovus Energy agreed on October 5, 2026, to acquire Athabasca Oil in a CAD 5.7 billion cash-and-stock transaction.
The deal adds 45,000 barrels of oil equivalent per day and is expected to close in December 2026.
Second-quarter 2026 revenue reached CAD 17.4 billion and net income was CAD 2.87 billion.
Raymond James raised its Cenovus target from CAD 51.00 to CAD 53.00 on October 6, 2026.
Cenovus Energy stock was trading at EUR 28.35 at Lang & Schwarz on October 13, 2026.

CVE, CA15135U1093, Illustration mit AI erstellt.

Cenovus Energy (ISIN CA15135U1093) was trading at EUR 28.35 at Lang & Schwarz on October 13, 2026, at 12:31 p.m. CEST. On October 5, 2026, Cenovus Energy agreed to acquire Athabasca Oil in a CAD 5.7 billion cash-and-stock transaction, making the deal the central issue for Cenovus Energy stock.

Three milestones shape the deal

The latest reported quarter ended June 30, 2026. Simply Wall St reported second-quarter revenue of CAD 17.4 billion, net income of CAD 2.87 billion and earnings per share of CAD 1.54 on July 30, 2026.

On September 29, 2026, Cenovus paid a quarterly dividend of CAD 0.22 per share, as reported by MarketBeat. The October 5 acquisition announcement then set the current strategic direction with a CAD 5.7 billion transaction value.

What does Athabasca add?

The acquisition is designed to add approximately 45,000 barrels of oil equivalent per day to Cenovus's thermal oil sands production. Reuters reported on October 5, 2026, that the acquired assets could reach 115,000 barrels per day by 2032. That creates operating upside, but the transaction also depends on regulatory and shareholder approvals.

Analyst opinion moved in the same direction after the announcement. MarketBeat reported on October 6, 2026, that Raymond James raised its target for Cenovus from CAD 51.00 to CAD 53.00 while retaining an outperform rating. The revision gives the market a numerical reference for the deal's potential, while the closing conditions remain an execution risk.

Key dates for Cenovus Energy

Zacks lists October 30, 2026, as the estimated date for Cenovus's next earnings release. The Athabasca transaction is expected to close in December 2026, subject to approvals, according to the October 5, 2026, company announcement.

Stock price and investor reference

Cenovus Energy stock was trading at EUR 28.35 at Lang & Schwarz on October 13, 2026, at 12:31 p.m. CEST. The price provides the euro reference for German investors while the acquisition, second-quarter figures and target revision define the company-specific context.

The further course of trading is shown by the continuously updated real-time quote of Cenovus Energy stock.