Cenovus Energy (CVE) Scheduled to Post Earnings on Wednesday

Cenovus Energy (NYSE:CVEGet Rating) (TSE:CVE) will announce its earnings results before the market opens on Wednesday, April 27th. Analysts expect the company to announce earnings of $0.56 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Cenovus Energy (NYSE:CVEGet Rating) (TSE:CVE) last posted its quarterly earnings data on Tuesday, February 8th. The oil and gas company reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.02. Cenovus Energy had a net margin of 1.25% and a return on equity of 8.92%. The company had revenue of $16.37 billion during the quarter, compared to analyst estimates of $13.99 billion. During the same quarter last year, the business posted ($0.35) earnings per share. The company’s revenue was up 12.7% on a year-over-year basis. On average, analysts expect Cenovus Energy to post $3 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Shares of NYSE:CVE opened at $17.95 on Wednesday. Cenovus Energy has a twelve month low of $7.16 and a twelve month high of $18.34. The firm has a market cap of $35.59 billion, a PE ratio of 81.59 and a beta of 2.76. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.10 and a current ratio of 1.64. The business has a fifty day moving average of $16.15 and a 200-day moving average of $13.93.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Tuesday, March 15th were paid a $0.028 dividend. The ex-dividend date of this dividend was Monday, March 14th. This represents a $0.11 dividend on an annualized basis and a dividend yield of 0.62%. Cenovus Energy’s dividend payout ratio (DPR) is presently 50.00%.

Institutional investors and hedge funds have recently modified their holdings of the stock. JustInvest LLC acquired a new stake in Cenovus Energy during the 4th quarter worth approximately $152,000. LPL Financial LLC increased its position in shares of Cenovus Energy by 16.3% during the third quarter. LPL Financial LLC now owns 17,072 shares of the oil and gas company’s stock worth $172,000 after acquiring an additional 2,394 shares in the last quarter. Synovus Financial Corp bought a new stake in shares of Cenovus Energy during the fourth quarter worth $461,000. Squarepoint Ops LLC bought a new stake in shares of Cenovus Energy during the fourth quarter worth $666,000. Finally, Alliancebernstein L.P. increased its position in shares of Cenovus Energy by 13.6% during the fourth quarter. Alliancebernstein L.P. now owns 371,538 shares of the oil and gas company’s stock worth $4,562,000 after acquiring an additional 44,357 shares in the last quarter. Institutional investors and hedge funds own 46.85% of the company’s stock.

CVE has been the subject of a number of research reports. Scotiabank raised their price target on shares of Cenovus Energy from C$24.00 to C$25.00 in a report on Monday. Royal Bank of Canada raised their price target on shares of Cenovus Energy from C$20.00 to C$24.00 in a report on Friday, January 28th. Zacks Investment Research raised shares of Cenovus Energy from a “hold” rating to a “strong-buy” rating and set a $18.00 price target for the company in a report on Friday, February 11th. The Goldman Sachs Group reiterated a “buy” rating and issued a $19.00 price objective on shares of Cenovus Energy in a research report on Thursday, March 31st. Finally, National Bank Financial lifted their price objective on Cenovus Energy from C$28.00 to C$35.00 in a research report on Thursday, April 14th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $21.96.

About Cenovus Energy (Get Rating)

Cenovus Energy, Inc engages in provision of gas and oil. Its activities include development, production, and marketing of crude oil, natural gas liquids (NGLS), and natural gas in Canada. The firm operates through four segments: Oil Sands, Conventional, Refining & Marketing, and Corporate & Eliminations.

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Earnings History for Cenovus Energy (NYSE:CVE)

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