Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) – Equities researchers at Cormark raised their Q3 2019 earnings estimates for Cenovus Energy in a research note issued on Friday, July 26th. Cormark analyst A. Arif now expects that the oil and gas company will post earnings per share of $0.18 for the quarter, up from their prior forecast of $0.15. Cormark also issued estimates for Cenovus Energy’s Q4 2019 earnings at $0.14 EPS, Q1 2020 earnings at $0.13 EPS, Q2 2020 earnings at $0.12 EPS, Q3 2020 earnings at $0.11 EPS and Q4 2020 earnings at $0.08 EPS.
Other equities analysts have also issued reports about the company. ValuEngine lowered China Southern Airlines from a “hold” rating to a “sell” rating in a report on Monday, April 29th. CIBC reiterated a “hold” rating and set a $2.50 price objective on shares of Advantage Oil & Gas in a research report on Thursday, July 18th. GMP Securities reiterated a “buy” rating and set a $17.50 price objective on shares of Cenovus Energy in a research report on Thursday, April 25th. Finally, Goldman Sachs Group boosted their price objective on MEG Energy from C$6.00 to C$7.00 in a research report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $13.41.
NYSE:CVE opened at $9.26 on Monday. The company has a market capitalization of $11.32 billion, a price-to-earnings ratio of -5.32, a PEG ratio of 2.84 and a beta of 0.97. The company’s 50 day moving average is $9.02. Cenovus Energy has a 52 week low of $6.15 and a 52 week high of $10.65. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.54.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results on Thursday, July 25th. The oil and gas company reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.07). The company had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.38 billion. Cenovus Energy had a net margin of 1.25% and a negative return on equity of 8.70%. During the same period last year, the company posted ($0.24) earnings per share.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a dividend of $0.038 per share. The ex-dividend date of this dividend is Thursday, September 12th. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.04. This represents a $0.15 annualized dividend and a dividend yield of 1.64%. Cenovus Energy’s payout ratio is currently -8.62%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its position in Cenovus Energy by 8.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 14,989 shares of the oil and gas company’s stock worth $130,000 after purchasing an additional 1,168 shares during the period. Mraz Amerine & Associates Inc. lifted its position in Cenovus Energy by 4.5% in the first quarter. Mraz Amerine & Associates Inc. now owns 36,395 shares of the oil and gas company’s stock worth $316,000 after purchasing an additional 1,575 shares during the period. Pictet Asset Management Ltd. lifted its position in Cenovus Energy by 0.4% in the first quarter. Pictet Asset Management Ltd. now owns 402,723 shares of the oil and gas company’s stock worth $3,497,000 after purchasing an additional 1,600 shares during the period. SeaBridge Investment Advisors LLC lifted its position in Cenovus Energy by 66.7% in the second quarter. SeaBridge Investment Advisors LLC now owns 5,000 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 2,000 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Cenovus Energy in the first quarter worth approximately $25,000. Institutional investors and hedge funds own 76.11% of the company’s stock.
Cenovus Energy Company Profile
Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake.
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