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 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.

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