Cenovus Energy (CVE) Set to Announce Earnings on Wednesday

Cenovus Energy (TSE:CVE) (NYSE:CVE) will release its earnings data before the market opens on Wednesday, May 1st. Analysts expect Cenovus Energy to post earnings of C$0.47 per share for the quarter.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its quarterly earnings data on Thursday, February 15th. The company reported C$0.39 EPS for the quarter, beating the consensus estimate of C$0.33 by C$0.06. Cenovus Energy had a return on equity of 14.60% and a net margin of 7.87%. The company had revenue of C$13.13 billion for the quarter, compared to analyst estimates of C$13.06 billion. During the same period last year, the company posted $0.39 earnings per share.

Cenovus Energy Trading Up 0.8 %

TSE:CVE opened at C$29.32 on Monday. The business’s 50-day moving average is C$26.40 and its two-hundred day moving average is C$24.47. The company has a debt-to-equity ratio of 34.64, a current ratio of 1.56 and a quick ratio of 1.00. Cenovus Energy has a 12 month low of C$19.82 and a 12 month high of C$29.96. The firm has a market capitalization of C$54.83 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 0.09 and a beta of 2.78.

Cenovus Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 28th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Thursday, March 14th. Cenovus Energy’s dividend payout ratio (DPR) is presently 26.42%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. JPMorgan Chase & Co. cut their price objective on Cenovus Energy from C$35.00 to C$34.00 in a research report on Thursday, January 11th. CIBC raised their price objective on Cenovus Energy from C$31.00 to C$35.00 and gave the company an “outperform” rating in a research report on Monday, April 22nd. Royal Bank of Canada raised their target price on Cenovus Energy from C$28.00 to C$32.00 in a research note on Tuesday, April 9th. Desjardins raised their target price on Cenovus Energy from C$29.50 to C$31.50 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Finally, National Bankshares raised their target price on Cenovus Energy from C$29.00 to C$38.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cenovus Energy presently has an average rating of “Moderate Buy” and an average target price of C$33.35.

Insider Buying and Selling

In related news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of Cenovus Energy stock in a transaction dated Monday, April 8th. The stock was sold at an average price of C$29.21, for a total value of C$525,835.80. In related news, Senior Officer Gary Frederick Molnar sold 24,000 shares of Cenovus Energy stock in a transaction dated Friday, April 5th. The stock was sold at an average price of C$29.06, for a total value of C$697,332.00. Also, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of C$29.21, for a total value of C$525,835.80. Over the last three months, insiders sold 87,000 shares of company stock worth $2,414,507. Corporate insiders own 31.50% of the company’s stock.

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.