Cenovus Energy (CVE) to Release Earnings on Thursday

Cenovus Energy (TSE:CVE) (NYSE:CVE) is scheduled to be releasing its earnings data before the market opens on Thursday, October 31st. Analysts expect Cenovus Energy to post earnings of C$0.71 per share for the quarter.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings results on Thursday, August 1st. The company reported C$0.53 EPS for the quarter, missing the consensus estimate of C$0.72 by C($0.19). Cenovus Energy had a net margin of 8.54% and a return on equity of 16.69%. The company had revenue of C$14.89 billion for the quarter, compared to analyst estimates of C$13.44 billion.

Cenovus Energy Trading Down 1.5 %

Shares of CVE stock opened at C$23.09 on Thursday. The business’s 50 day moving average is C$24.03 and its two-hundred day moving average is C$26.18. The company has a market cap of C$42.95 billion, a PE ratio of 9.20, a price-to-earnings-growth ratio of 0.09 and a beta of 2.63. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 33.34. Cenovus Energy has a 12 month low of C$19.82 and a 12 month high of C$29.96.

Cenovus Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were paid a $0.18 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.72 annualized dividend and a dividend yield of 3.12%. Cenovus Energy’s payout ratio is 28.69%.

Analyst Upgrades and Downgrades

CVE has been the topic of several research analyst reports. Desjardins raised their price objective on shares of Cenovus Energy from C$31.50 to C$33.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. National Bankshares reduced their target price on Cenovus Energy from C$38.00 to C$31.00 in a research report on Friday, September 27th. Jefferies Financial Group reduced their target price on Cenovus Energy from C$36.00 to C$33.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Scotiabank reduced their target price on Cenovus Energy from C$35.00 to C$34.00 in a research report on Friday, July 12th. Finally, BMO Capital Markets reduced their target price on Cenovus Energy from C$33.00 to C$31.00 in a research report on Friday, October 4th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$32.30.

Insider Activity at Cenovus Energy

In other Cenovus Energy news, Senior Officer Jeffery George Lawson purchased 4,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was acquired at an average cost of C$22.50 per share, with a total value of C$90,000.00. In other news, Senior Officer Jeffery George Lawson acquired 4,000 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average cost of C$22.50 per share, for a total transaction of C$90,000.00. Also, Senior Officer Keith Chiasson acquired 25,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of C$23.40 per share, with a total value of C$585,000.00. Insiders acquired 152,200 shares of company stock valued at $3,459,477 over the last ninety days. 32.03% of the stock is owned by insiders.

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.