Cenovus Energy (CVE) Scheduled to Post Quarterly Earnings on Wednesday

Cenovus Energy (NYSE:CVE) (TSE:CVE) will post its quarterly earnings results before the market opens on Wednesday, May 1st. Analysts expect Cenovus Energy to post earnings of $0.35 per share for the quarter.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its earnings results on Thursday, February 15th. The oil and gas company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The company had revenue of $9.65 billion during the quarter, compared to analysts’ expectations of $9.73 billion. Cenovus Energy had a return on equity of 14.85% and a net margin of 7.88%. During the same quarter last year, the business posted $0.29 EPS. On average, analysts expect Cenovus Energy to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Cenovus Energy Stock Up 0.1 %

Shares of CVE traded up $0.03 on Thursday, reaching $21.26. The stock had a trading volume of 2,595,846 shares, compared to its average volume of 11,185,492. The firm has a market capitalization of $39.65 billion, a price-to-earnings ratio of 13.44 and a beta of 2.15. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.91 and a current ratio of 1.56. The company has a 50-day simple moving average of $19.16 and a 200-day simple moving average of $18.02. Cenovus Energy has a 12-month low of $14.69 and a 12-month high of $21.90.

Cenovus Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.1033 dividend. This represents a $0.41 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.10. Cenovus Energy’s dividend payout ratio (DPR) is presently 25.95%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Morgan Stanley lifted their price objective on Cenovus Energy from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Royal Bank of Canada restated an “outperform” rating and issued a $28.00 price objective on shares of Cenovus Energy in a research report on Friday, January 26th. UBS Group raised Cenovus Energy from a “neutral” rating to a “buy” rating in a research note on Friday, February 23rd. Finally, StockNews.com raised Cenovus Energy from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $26.67.

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.