Shares of Cenovus Energy Inc. (NYSE:CVE – Get Free Report) (TSE:CVE) have received a consensus rating of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $30.00.
Several research analysts have recently commented on the company. StockNews.com lowered Cenovus Energy from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. TD Securities downgraded shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Finally, BMO Capital Markets decreased their target price on shares of Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st.
Read Our Latest Research Report on CVE
Institutional Investors Weigh In On Cenovus Energy
Cenovus Energy Stock Down 1.8 %
Shares of NYSE CVE opened at $15.74 on Friday. The stock has a market cap of $28.79 billion, a PE ratio of 10.86 and a beta of 2.05. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. Cenovus Energy has a 12-month low of $14.69 and a 12-month high of $21.90. The company has a 50-day moving average of $16.84 and a 200 day moving average of $18.60.
Cenovus Energy (NYSE:CVE – Get Free Report) (TSE:CVE) last posted its quarterly earnings results on Thursday, October 31st. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.08. Cenovus Energy had a return on equity of 12.88% and a net margin of 6.72%. The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $10.25 billion. During the same period in the prior year, the business earned $0.72 earnings per share. The business’s revenue was down 17.9% compared to the same quarter last year. As a group, sell-side analysts predict that Cenovus Energy will post 1.5 EPS for the current fiscal year.
Cenovus Energy Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $0.133 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.53 dividend on an annualized basis and a yield of 3.38%. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.13. Cenovus Energy’s dividend payout ratio is presently 36.55%.
About Cenovus Energy
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.
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