Cenovus Energy Inc (TSE:CVE) to Post FY2020 Earnings of $0.71 Per Share, National Bank Financial Forecasts

Cenovus Energy Inc (TSE:CVE) (NYSE:CVE) – National Bank Financial cut their FY2020 earnings per share (EPS) estimates for shares of Cenovus Energy in a report issued on Wednesday, February 12th. National Bank Financial analyst T. Wood now expects that the company will post earnings of $0.71 per share for the year, down from their previous estimate of $0.75. National Bank Financial has a “Outperform” rating and a $16.00 price target on the stock.

Several other research analysts have also weighed in on the stock. Tudor Pickering & Holt set a C$14.00 price objective on shares of Cenovus Energy and gave the company a “buy” rating in a research note on Wednesday. TD Securities decreased their price objective on shares of Cenovus Energy from C$17.00 to C$16.50 and set a “buy” rating for the company in a report on Thursday. Royal Bank of Canada reduced their price target on shares of Cenovus Energy from C$17.00 to C$15.00 in a report on Friday, October 18th. Scotiabank reduced their price target on shares of Cenovus Energy from C$15.00 to C$14.50 in a report on Tuesday, January 14th. Finally, Morgan Stanley cut shares of Cenovus Energy from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. Cenovus Energy has an average rating of “Buy” and a consensus price target of C$14.94.

Cenovus Energy stock opened at C$11.94 on Friday. The firm has a 50-day moving average price of C$12.36 and a two-hundred day moving average price of C$12.02. The firm has a market capitalization of $14.80 billion and a price-to-earnings ratio of 20.41. Cenovus Energy has a 52-week low of C$10.29 and a 52-week high of C$14.31. The company has a quick ratio of 0.60, a current ratio of 1.12 and a debt-to-equity ratio of 46.38.

In related news, Director Keith A.J. Macphail bought 20,000 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were purchased at an average cost of C$13.08 per share, for a total transaction of C$261,600.00. Following the acquisition, the director now owns 222,000 shares of the company’s stock, valued at approximately C$2,903,760.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.063 per share. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.06. This represents a $0.25 annualized dividend and a yield of 2.11%. The ex-dividend date is Thursday, March 12th. Cenovus Energy’s dividend payout ratio (DPR) is 34.19%.

Cenovus Energy Company Profile

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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