Cenovus Completes Acquisition of MEG Energy
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 13 2025
0mins
Source: Globenewswire
Cenovus Energy Acquisition: Cenovus Energy Inc. has completed its acquisition of MEG Energy Corp., enhancing its portfolio with long-life, low-cost oil sands assets and adding approximately 110,000 barrels per day of production capacity.
Financial Details: The acquisition involved a total consideration of $4.2 billion, including cash payments and the issuance of Cenovus common shares, along with the assumption of approximately $800 million in net debt.
Strategic Impact: Cenovus's President & CEO, Jon McKenzie, stated that the acquisition will have an immediate positive impact, creating significant value through identified synergies in both the short and long term.
Future Guidance: Cenovus plans to provide updated guidance reflecting the MEG acquisition with its 2026 budget on December 11, 2025, while MEG common shares are expected to be delisted from the Toronto Stock Exchange on November 14, 2025.
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Analyst Views on MEG
Wall Street analysts forecast MEG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for MEG is 33.50 USD with a low forecast of 32.00 USD and a high forecast of 36.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Analyst Rating
4 Buy
2 Hold
0 Sell
Moderate Buy
Current: 22.450
Low
32.00
Averages
33.50
High
36.00
Current: 22.450
Low
32.00
Averages
33.50
High
36.00
About MEG
Montrose Environmental Group, Inc. is an environmental solutions company focused on supporting commercial and government organizations. Its Assessment, Permitting and Response segment provides scientific advisory and consulting services to support environmental assessments, environmental emergency response and recovery, toxicology consulting and environmental audits and permits for current operations, facility upgrades, new projects, decommissioning and development projects. Its Measurement and Analysis segment provides environmental testing and laboratory services in North America, including source and ambient air testing and monitoring, leak detection, and advanced multimedia laboratory services. Its Remediation and Reuse segment provides clients with engineering, design, and implementation services, primarily treatment technologies that treat contaminated water, remove contaminants from soil or create renewable energy from waste.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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