Canadian Natural Resources (CNQ) vs Cenovus Energy (CVE)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Cenovus Energy (CVE) has outperformed Canadian Natural Resources (CNQ) over the past year, gaining 75.9% versus a gain of 45.0%. Over five years, CVE leads with a +162.7% price change compared with +129.0% for CNQ. Canadian Natural Resources is the larger company by market cap ($101.12 billion vs $58.08 billion), about 1.7 times the size.
On valuation, Cenovus Energy trades at a lower forward P/E (11.7x vs 12.8x for Canadian Natural Resources). Canadian Natural Resources offers the higher dividend yield (4.94% vs 2.60%).
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | CNQ | CVE |
|---|---|---|
| Share price | $49.05 | $31.49 |
| Market cap | $101.12B | $58.08B |
| 1-day change | +3.26% | +2.81% |
| YTD return | +40.32% | +81.03% |
| 1-year return | +44.99% | +75.93% |
| 5-year return | +129.03% | +162.69% |
| P/E ratio (TTM) | 12.05 | 12.11 |
| Forward P/E | 12.76 | 11.74 |
| EPS (TTM) | $4.07 | $2.60 |
| Dividend yield | 4.94% | 2.60% |
| Annual dividend | $2.43 | $0.82 |
| 52-week high | $52.31 | $34.16 |
| 52-week low | $29.68 | $15.63 |
| Distance from 52-week high | -6.23% | -7.82% |
| Analyst consensus | buy | strong_buy |
| Avg. price target upside | -1.69% | +17.53% |
| Average volume | 6.59M | 7.10M |
| Shares outstanding | 2.06B | 1.84B |
| Employees | 10,750 | 7,211 |
| Sector | Energy | Energy |
| Industry | Oil & Gas Production | Oil & Gas Production |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- CVE has outperformed CNQ by 30.9 percentage points over the past year.
- Canadian Natural Resources offers a meaningfully higher dividend yield (4.94% vs 2.60%).
About Canadian Natural Resources
CNQ stock →Canadian Natural Resources Limited engages in the acquisition, exploration, development, production, marketing, and sale of crude oil, natural gas, and natural gas liquids (NGLs) in Western Canada, the United Kingdom sector of the North Sea, and Offshore Africa. The company offers synthetic crude oil (SCO), mining bitumen, light and medium crude oil and NGLs, thermal bitumen, primary heavy crude oil and Pelican Lake heavy crude oil.
Energy · Oil & Gas Production · 10,750 employees
About Cenovus Energy
CVE stock →Cenovus Energy Inc., together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada, the United States, and China. It operates through Upstream and Downstream segments.
Energy · Oil & Gas Production · 7,211 employees
CNQ vs CVE FAQ
Which is bigger, Canadian Natural Resources or Cenovus Energy?
Canadian Natural Resources (CNQ) is larger, with a market capitalization of $101.12B compared with $58.08B for Cenovus Energy (CVE).
Which stock has performed better over the past year, CNQ or CVE?
CVE returned +75.93% over the past 12 months, compared with +44.99% for CNQ (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, CNQ or CVE?
CNQ has the lower trailing P/E at 12.1, versus 12.1 for CVE. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Canadian Natural Resources or Cenovus Energy?
Canadian Natural Resources has the higher yield at 4.94%, compared with 2.60% for Cenovus Energy.
Are Canadian Natural Resources and Cenovus Energy in the same industry?
Yes. Both are classified in the Oil & Gas Production industry within the Energy sector.