FY2028 EPS Estimates for Cenovus Energy Reduced by Analyst

Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) – Equities researchers at Raymond James dropped their FY2028 EPS estimates for Cenovus Energy in a note issued to investors on Thursday, May 8th. Raymond James analyst M. Barth now expects that the oil and gas company will post earnings per share of $1.96 for the year, down from their previous forecast of $2.05. The consensus estimate for Cenovus Energy’s current full-year earnings is $1.49 per share. Raymond James also issued estimates for Cenovus Energy’s FY2029 earnings at $2.09 EPS.

CVE has been the subject of several other reports. Morgan Stanley reissued an “overweight” rating on shares of Cenovus Energy in a research note on Tuesday, April 15th. Scotiabank raised shares of Cenovus Energy to a “strong-buy” rating in a research note on Wednesday, March 19th. The Goldman Sachs Group dropped their price target on Cenovus Energy from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $25.00 price objective on shares of Cenovus Energy in a research report on Friday, April 11th. Finally, National Bank Financial cut Cenovus Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.75.

Cenovus Energy Price Performance

Shares of Cenovus Energy stock opened at $13.29 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 0.95. The business has a 50 day simple moving average of $12.57 and a two-hundred day simple moving average of $14.29. The stock has a market capitalization of $24.22 billion, a P/E ratio of 10.98 and a beta of 0.95. Cenovus Energy has a 12 month low of $10.23 and a 12 month high of $21.08.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings results on Thursday, May 8th. The oil and gas company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.03. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. The firm had revenue of $11.15 billion during the quarter, compared to the consensus estimate of $12.39 billion. During the same quarter in the prior year, the firm earned $0.62 EPS.

Institutional Investors Weigh In On Cenovus Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. increased its position in shares of Cenovus Energy by 105.0% during the 4th quarter. Franklin Resources Inc. now owns 4,337,551 shares of the oil and gas company’s stock worth $65,667,000 after purchasing an additional 2,221,549 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Cenovus Energy by 4.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,226,155 shares of the oil and gas company’s stock valued at $79,176,000 after acquiring an additional 245,302 shares during the last quarter. Amundi raised its stake in shares of Cenovus Energy by 1.7% in the 4th quarter. Amundi now owns 4,678,976 shares of the oil and gas company’s stock valued at $71,775,000 after acquiring an additional 77,548 shares during the period. Alberta Investment Management Corp raised its stake in shares of Cenovus Energy by 10.1% in the 4th quarter. Alberta Investment Management Corp now owns 4,494,400 shares of the oil and gas company’s stock valued at $68,094,000 after acquiring an additional 411,000 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Cenovus Energy during the 4th quarter worth approximately $3,649,000. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Cenovus Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.1269 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.51 annualized dividend and a yield of 3.82%. Cenovus Energy’s dividend payout ratio (DPR) is 51.40%.

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.