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

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

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results on Thursday, February 15th. The oil and gas company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Cenovus Energy had a return on equity of 14.85% and a net margin of 7.88%. The firm had revenue of $9.65 billion during the quarter, compared to analyst estimates of $9.73 billion. During the same period last year, the company earned $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 Trading Up 0.1 %

Shares of CVE stock traded up $0.03 on Thursday, reaching $21.26. 2,595,846 shares of the company’s stock were exchanged, compared to its average volume of 11,185,492. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.25. The company’s fifty day simple moving average is $19.16 and its 200 day simple moving average is $18.02. The stock has a market capitalization of $39.65 billion, a PE ratio of 13.44 and a beta of 2.15. Cenovus Energy has a 52 week low of $14.69 and a 52 week high of $21.90.

Cenovus Energy Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CVE. UBS Group raised Cenovus Energy from a “neutral” rating to a “buy” rating in a research report on Friday, February 23rd. StockNews.com raised Cenovus Energy from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th. Royal Bank of Canada reissued an “outperform” rating and issued a $28.00 price target on shares of Cenovus Energy in a research report on Friday, January 26th. Finally, Morgan Stanley boosted their price target on Cenovus Energy from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Cenovus Energy currently has an average 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.