Cenovus Energy (NYSE:CVE) Announces Earnings Results, Misses Estimates By $0.27 EPS

Cenovus Energy (NYSE:CVE) (TSE:CVE) posted its quarterly earnings results on Thursday. The oil and gas company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.27), Zacks reports. The company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $11.08 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%.

Cenovus Energy Stock Performance

Cenovus Energy stock opened at $14.61 on Friday. The business has a 50 day moving average of $14.99 and a 200-day moving average of $16.30. Cenovus Energy has a 1 year low of $13.76 and a 1 year high of $21.90. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 0.95. The company has a market capitalization of $26.64 billion, a P/E ratio of 12.07 and a beta of 1.99.

Cenovus Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.1269 dividend. This represents a $0.51 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Friday, March 14th. Cenovus Energy’s dividend payout ratio is currently 42.15%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. StockNews.com downgraded Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. BMO Capital Markets lowered their target price on Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. National Bank Financial downgraded Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday. Finally, Royal Bank of Canada lowered their target price on Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Friday. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.25.

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.