Cenovus Energy (CVE) Set to Announce Quarterly Earnings on Friday

Cenovus Energy (TSE:CVE) (NYSE:CVE) is scheduled to post its quarterly earnings results before the market opens on Friday, May 7th. Analysts expect Cenovus Energy to post earnings of C$0.19 per share for the quarter.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its quarterly earnings results on Tuesday, February 9th. The company reported C($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.08) by C($0.37). The business had revenue of C$3.57 billion during the quarter.

CVE stock opened at C$9.43 on Wednesday. The company has a market capitalization of C$19.02 billion and a P/E ratio of -4.86. The company has a debt-to-equity ratio of 55.78, a quick ratio of 0.67 and a current ratio of 1.26. Cenovus Energy has a 52-week low of C$4.15 and a 52-week high of C$10.77. The business has a 50-day simple moving average of C$9.72 and a two-hundred day simple moving average of C$8.00.

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Monday, March 15th were paid a dividend of $0.018 per share. The ex-dividend date of this dividend was Friday, March 12th. This represents a $0.07 dividend on an annualized basis and a yield of 0.76%. Cenovus Energy’s dividend payout ratio (DPR) is currently -3.22%.

A number of brokerages have recently weighed in on CVE. Citigroup boosted their target price on Cenovus Energy from C$8.00 to C$11.00 in a research note on Monday, January 25th. TD Securities cut their target price on Cenovus Energy from C$10.50 to C$10.00 and set a “buy” rating on the stock in a research note on Friday, January 29th. Tudor Pickering & Holt set a C$12.00 target price on Cenovus Energy and gave the stock a “buy” rating in a research note on Tuesday, April 13th. Royal Bank of Canada restated an “outperform” rating and issued a C$12.00 target price on shares of Cenovus Energy in a research note on Monday, March 15th. Finally, Scotiabank upgraded Cenovus Energy from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from C$9.25 to C$12.00 in a research note on Thursday, April 15th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of C$10.75.

In other Cenovus Energy news, Director Richard Joseph Marcogliese bought 5,000 shares of the stock in a transaction on Thursday, April 22nd. The shares were acquired at an average price of C$9.81 per share, with a total value of C$49,071.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately C$98,142.

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, the United States and the Asia Pacific region. The company operates through Oil Sands, Conventional, and Refining and Marketing segments. The Oil Sands segment develops and produces bitumen in northeast Alberta.

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Earnings History for Cenovus Energy (TSE:CVE)

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