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

Cenovus Energy (NYSE:CVE) (TSE:CVE) is scheduled to be releasing its earnings data before the market opens on Wednesday, May 1st. Analysts expect Cenovus Energy to post earnings of $0.35 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Thursday, February 15th. The oil and gas company reported $0.29 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $9.73 billion. During the same period in the prior year, the firm posted $0.29 earnings per share. 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 Down 2.2 %

Shares of Cenovus Energy stock traded down $0.48 during trading hours on Tuesday, hitting $21.06. The company’s stock had a trading volume of 4,208,711 shares, compared to its average volume of 11,086,705. The firm has a fifty day moving average of $19.50 and a 200-day moving average of $18.04. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.91 and a current ratio of 1.56. The stock has a market cap of $39.28 billion, a price-to-earnings ratio of 13.35 and a beta of 2.15. Cenovus Energy has a twelve month low of $14.69 and a twelve month high of $21.90.

Cenovus Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.1033 dividend. This represents a $0.41 dividend on an annualized basis and a dividend yield of 1.96%. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Thursday, March 14th. Cenovus Energy’s payout ratio is 25.95%.

Wall Street Analyst Weigh In

CVE has been the subject of several research reports. StockNews.com upgraded shares of Cenovus Energy from a “hold” rating to a “buy” rating in a report on Thursday, April 11th. UBS Group raised Cenovus Energy from a “neutral” rating to a “buy” rating in a research note on Friday, February 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $28.00 target price on shares of Cenovus Energy in a research report on Friday, January 26th. Finally, Morgan Stanley increased their price target on shares of Cenovus Energy from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Cenovus Energy currently has an average rating of “Buy” and an average 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.