Cenovus Energy Inc (CVE) To Go Ex-Dividend on September 15th

Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) announced a quarterly dividend on Wednesday, July 29th. Stockholders of record on Tuesday, September 15th will be given a dividend of 0.22 per share by the oil and gas company on Tuesday, September 29th. This represents a c) annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Tuesday, September 15th.

Cenovus Energy has raised its dividend payment by an average of 0.6%per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Cenovus Energy has a payout ratio of 60.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cenovus Energy to earn $3.08 per share next year, which means the company should continue to be able to cover its $0.63 annual dividend with an expected future payout ratio of 20.5%.

Cenovus Energy Price Performance

Shares of CVE stock opened at $33.08 on Friday. The stock’s fifty day simple moving average is $30.00 and its 200 day simple moving average is $27.63. Cenovus Energy has a one year low of $15.63 and a one year high of $34.16. The firm has a market cap of $60.94 billion, a price-to-earnings ratio of 12.72 and a beta of 0.35. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.63 and a quick ratio of 1.04.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $1.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.11. The firm had revenue of $14.59 billion during the quarter, compared to analyst estimates of $11.87 billion. Cenovus Energy had a return on equity of 21.08% and a net margin of 12.37%.The business’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.45 earnings per share. On average, analysts expect that Cenovus Energy will post 3.57 earnings per share for the current fiscal year.

About Cenovus Energy

Cenovus Energy Inc is an integrated Canadian energy company headquartered in Calgary, Alberta. The company explores for, develops, produces and markets crude oil, natural gas and natural gas liquids, with a significant focus on oil sands projects in Alberta. Its upstream operations include oil sands mining and in situ production, conventional oil and natural gas assets, and offshore production interests in the Atlantic region.

Cenovus also operates downstream businesses that upgrade, refine and market petroleum products.