Equities research analysts predict that Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) will announce $4.07 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Cenovus Energy’s earnings. The highest sales estimate is $4.17 billion and the lowest is $3.98 billion. Cenovus Energy posted sales of $3.44 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 18.3%. The business is expected to report its next quarterly earnings results on Wednesday, February 12th.
On average, analysts expect that Cenovus Energy will report full year sales of $15.61 billion for the current fiscal year, with estimates ranging from $14.73 billion to $16.49 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $14.03 billion, with estimates ranging from $9.34 billion to $16.70 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Cenovus Energy.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results on Thursday, October 31st. The oil and gas company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.08. Cenovus Energy had a negative return on equity of 5.76% and a net margin of 3.41%. The company had revenue of $4.70 billion during the quarter, compared to analyst estimates of $5.33 billion. During the same period in the previous year, the company earned ($0.20) earnings per share. The company’s quarterly revenue was down 20.3% compared to the same quarter last year.
Shares of Cenovus Energy stock traded up $0.26 during midday trading on Friday, hitting $8.79. The company had a trading volume of 196,881 shares, compared to its average volume of 2,439,267. Cenovus Energy has a 1-year low of $6.15 and a 1-year high of $10.82. The business’s 50 day simple moving average is $8.90 and its two-hundred day simple moving average is $8.85. The stock has a market cap of $10.92 billion, a PE ratio of -5.04, a P/E/G ratio of 1.14 and a beta of 0.98. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.12 and a quick ratio of 0.60.
Large investors have recently added to or reduced their stakes in the company. TD Asset Management Inc. raised its position in Cenovus Energy by 4.2% in the second quarter. TD Asset Management Inc. now owns 43,206,265 shares of the oil and gas company’s stock worth $381,888,000 after purchasing an additional 1,739,611 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Cenovus Energy by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 30,349,261 shares of the oil and gas company’s stock worth $267,681,000 after buying an additional 427,499 shares in the last quarter. Beutel Goodman & Co Ltd. raised its holdings in shares of Cenovus Energy by 6.9% in the 3rd quarter. Beutel Goodman & Co Ltd. now owns 22,323,456 shares of the oil and gas company’s stock worth $9,096,000 after buying an additional 1,444,938 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Cenovus Energy by 8.7% during the 3rd quarter. CIBC Asset Management Inc now owns 15,168,528 shares of the oil and gas company’s stock worth $142,332,000 after buying an additional 1,213,641 shares during the period. Finally, Lincluden Management Ltd. lifted its position in shares of Cenovus Energy by 10.2% during the 2nd quarter. Lincluden Management Ltd. now owns 5,891,532 shares of the oil and gas company’s stock worth $52,649,000 after buying an additional 544,920 shares during the period. 76.86% of the stock is owned by institutional investors.
About Cenovus Energy
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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