Cenovus Energy Inc (CVE) To Go Ex-Dividend on March 13th

Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) announced a quarterly dividend on Thursday, February 19th. Stockholders of record on Friday, March 13th will be paid a dividend of 0.20 per share by the oil and gas company on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Friday, March 13th.

Cenovus Energy has increased its dividend payment by an average of 0.3%per year over the last three years and has raised its dividend every year for the last 4 years. Cenovus Energy has a payout ratio of 54.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cenovus Energy to earn $1.91 per share next year, which means the company should continue to be able to cover its $0.57 annual dividend with an expected future payout ratio of 29.8%.

Cenovus Energy Stock Performance

Shares of CVE opened at $22.58 on Friday. The stock has a market capitalization of $42.44 billion, a price-to-earnings ratio of 14.75 and a beta of 0.48. Cenovus Energy has a 12 month low of $10.23 and a 12 month high of $23.39. The firm has a fifty day simple moving average of $18.65 and a 200 day simple moving average of $17.56. The company has a current ratio of 1.73, a quick ratio of 1.18 and a debt-to-equity ratio of 0.25.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results on Thursday, February 19th. The oil and gas company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.28 by $0.08. Cenovus Energy had a net margin of 7.92% and a return on equity of 13.53%. The firm had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $10.89 billion. During the same period in the previous year, the firm posted $0.07 EPS. Research analysts forecast that Cenovus Energy will post 1.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CVE has been the subject of several recent research reports. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Cenovus Energy in a research report on Tuesday, January 20th. Royal Bank Of Canada upped their price objective on Cenovus Energy from $29.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday. The Goldman Sachs Group reissued a “buy” rating and issued a $22.00 target price on shares of Cenovus Energy in a research note on Monday, February 2nd. Wall Street Zen upgraded shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research note on Sunday, February 15th. Finally, TD Securities restated a “buy” rating on shares of Cenovus Energy in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Cenovus Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.33.

About Cenovus Energy

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.