Cenovus Energy Inc. (NYSE:CVE) is listed among the 15 Global Dividend Stocks to Diversify Your Portfolio. TD Securities raised Cenovus Energy’s price target to C$29 from C$28 and maintained a Buy rating on the shares. The company announced its 2026 capital budget, with investments projected between $5.0 billion and $5.3 billion, including $350 million for turnaround costs. Additionally, $850 million is allocated for the recently acquired Christina Lake North asset.

The majority of the budget focuses on maintaining the existing business, with sustaining capital expected to range from $3.5 billion to $3.6 billion. Cenovus plans to invest $1.2 billion to $1.4 billion in growth projects, including an expansion at Christina Lake North. The company also intends to allocate between $450 million and $500 million for its conventional portfolio, with total conventional output forecasted at 120,000 to 125,000 BOE per day.

Cenovus Energy Inc. (NYSE:CVE) is an integrated energy company operating in Canada and the Asia Pacific region, with oil and natural gas production, upgrading, refining, and marketing operations across Canada and the United States. While CVE presents investment potential, other AI stocks may offer greater upside with lower downside risk. For more information, refer to the report on the best short-term AI stock.

Read more at Yahoo Finance: TD Securities Raises Cenovus Energy (CVE) Price Target After Review