Brokers Issue Forecasts for Cenovus Energy FY2025 Earnings

Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) – Stock analysts at Raymond James Financial raised their FY2025 earnings estimates for Cenovus Energy in a report released on Wednesday, September 10th. Raymond James Financial analyst M. Barth now forecasts that the oil and gas company will earn $1.22 per share for the year, up from their prior estimate of $1.17. The consensus estimate for Cenovus Energy’s current full-year earnings is $1.49 per share. Raymond James Financial also issued estimates for Cenovus Energy’s FY2026 earnings at $1.03 EPS, FY2027 earnings at $1.17 EPS, FY2028 earnings at $2.02 EPS and FY2029 earnings at $2.12 EPS.

A number of other analysts also recently issued reports on CVE. National Bank Financial raised shares of Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 22nd. Jefferies Financial Group reiterated a “buy” rating on shares of Cenovus Energy in a research report on Tuesday, September 2nd. Royal Bank Of Canada increased their price objective on Cenovus Energy from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. UBS Group reissued a “buy” rating on shares of Cenovus Energy in a report on Monday, August 25th. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Cenovus Energy in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $23.33.

Cenovus Energy Price Performance

Cenovus Energy stock opened at $16.91 on Thursday. Cenovus Energy has a 52 week low of $10.23 and a 52 week high of $18.61. The company has a quick ratio of 0.78, a current ratio of 1.32 and a debt-to-equity ratio of 0.24. The firm’s 50-day simple moving average is $15.25 and its 200 day simple moving average is $13.87. The firm has a market capitalization of $30.41 billion, a PE ratio of 16.74 and a beta of 0.99.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results on Thursday, July 31st. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.19. The company had revenue of $10.66 billion during the quarter, compared to the consensus estimate of $10.64 billion. Cenovus Energy had a net margin of 5.18% and a return on equity of 9.06%. The firm’s quarterly revenue was down 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.62 earnings per share.

Cenovus Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, September 15th. This represents a $0.80 annualized dividend and a dividend yield of 4.7%. Cenovus Energy’s payout ratio is presently 57.43%.

Hedge Funds Weigh In On Cenovus Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVE. Ridgewood Investments LLC bought a new position in shares of Cenovus Energy during the second quarter worth approximately $27,000. Atlantic Union Bankshares Corp bought a new stake in Cenovus Energy in the second quarter valued at $27,000. Allworth Financial LP increased its position in shares of Cenovus Energy by 104.3% during the second quarter. Allworth Financial LP now owns 2,288 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 1,168 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new position in Cenovus Energy during the first quarter worth about $38,000. Finally, Cromwell Holdings LLC raised its position in shares of Cenovus Energy by 1,165.1% in the first quarter. Cromwell Holdings LLC now owns 3,049 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 2,808 shares during the period. 51.19% of the stock is owned by institutional investors and hedge funds.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.