12 Best Stocks Under $25 To Invest In Right Now

3. Cenovus Energy Inc. (NYSE:CVE)

Average Upside Potential: 41.61%

Share Price: $15.62

Cenovus Energy Inc. (NYSE:CVE) is an integrated energy company headquartered in Calgary, Canada. The firm operates through various segments including Oil Sands, Conventional, and Offshore as its Upstream segments while Canadian Refining and US Refining serve as its Downstream segments.

For the third quarter of 2024, Cenovus Energy Inc. (NYSE:CVE) recorded total revenues of approximately $14.2 billion which declined year-over-year, primarily due to lower commodity prices affecting both upstream and downstream results. Total upstream production was 771,300 barrels of oil equivalent per day, a decrease over the year due to turnarounds at Christina Lake, Rainbow Lake, and other Conventional facilities. In the downstream, total throughput rose by about 20,000 barrels per day from the second quarter to almost 643,000 barrels per day, and a major turnaround was completed at the Lima Refinery.

Additionally, Cenovus is progressing well on many projects that are expected to improve shareholder returns for the long term. While the firm started production from two new well pads at Sunrise which will ramp up in the 4^th quarter, it progressed the tie-back of Narrows Lake, constructing a 17-km pipeline connecting the reservoir to the Christina Lake processing facility. Furthermore, the optimization project at Foster Creek is on track for startup by the middle of 2026. Thus, Cenovus Energy Inc. (NYSE:CVE) is pursuing bright growth prospects and currently trades at a price below $25.