Cenovus Energy (CVE) to Release Earnings on Wednesday

Cenovus Energy (TSE:CVE) (NYSE:CVE) will announce its earnings results before the market opens on Wednesday, May 1st. Analysts expect the company to announce earnings of C$0.47 per share for the quarter.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last released its quarterly earnings data on Thursday, February 15th. The company reported C$0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.33 by C$0.06. Cenovus Energy had a net margin of 7.87% and a return on equity of 14.60%. The firm had revenue of C$13.13 billion for the quarter, compared to analysts’ expectations of C$13.06 billion. During the same quarter last year, the business posted $0.39 earnings per share.

Cenovus Energy Stock Performance

Shares of TSE:CVE remained flat at C$29.10 during midday trading on Thursday. 1,244,260 shares of the company were exchanged, compared to its average volume of 4,600,833. The firm has a market capitalization of C$54.42 billion, a PE ratio of 13.72, a PEG ratio of 0.09 and a beta of 2.78. Cenovus Energy has a 12-month low of C$19.82 and a 12-month high of C$29.96. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 34.64. The company’s 50 day moving average is C$26.17 and its two-hundred day moving average is C$24.46.

Cenovus Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 28th were issued a dividend of $0.14 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.56 annualized dividend and a yield of 1.92%. Cenovus Energy’s payout ratio is presently 26.42%.

Insiders Place Their Bets

In related news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of C$29.21, for a total value of C$525,835.80. In other news, Senior Officer Jonathan Michael Mckenzie purchased 50,000 shares of the stock in a transaction dated Friday, February 16th. The stock was acquired at an average price of C$23.49 per share, for a total transaction of C$1,174,500.00. Also, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of C$29.21, for a total value of C$525,835.80. In the last 90 days, insiders have sold 87,000 shares of company stock worth $2,414,507. Company insiders own 31.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on CVE shares. Desjardins lifted their price target on shares of Cenovus Energy from C$29.50 to C$31.50 and gave the company a “buy” rating in a research note on Tuesday. Jefferies Financial Group boosted their price target on Cenovus Energy from C$28.00 to C$36.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. BMO Capital Markets lifted their price target on Cenovus Energy from C$29.00 to C$33.00 in a research report on Thursday, March 28th. CIBC increased their price objective on shares of Cenovus Energy from C$31.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Scotiabank dropped their price objective on shares of Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 16th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cenovus Energy has an average rating of “Moderate Buy” and a consensus price target of C$33.35.

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.