Cenovus Energy Inc (CVE) Expected to Post Quarterly Sales of $3.78 Billion

Wall Street brokerages expect that Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) will announce sales of $3.78 billion for the current quarter, according to Zacks. Two analysts have provided estimates for Cenovus Energy’s earnings. The highest sales estimate is $4.18 billion and the lowest is $3.37 billion. Cenovus Energy reported sales of $4.00 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 5.5%. The company is scheduled to issue its next quarterly earnings results before the market opens on Wednesday, February 13th.

According to Zacks, analysts expect that Cenovus Energy will report full-year sales of $16.10 billion for the current fiscal year, with estimates ranging from $15.63 billion to $16.84 billion. For the next year, analysts expect that the company will report sales of $16.44 billion, with estimates ranging from $14.20 billion to $19.47 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Cenovus Energy.

Several equities analysts recently commented on CVE shares. Canaccord Genuity reissued a “hold” rating on shares of Cenovus Energy in a research note on Tuesday, October 16th. Raymond James reissued a “hold” rating on shares of Cenovus Energy in a research report on Thursday, November 1st. Zacks Investment Research reissued a “buy” rating and set a $9.25 price target on shares of Cenovus Energy in a research report on Tuesday, November 13th. TD Securities raised shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research report on Monday, October 22nd. Finally, Scotiabank raised shares of Cenovus Energy from a “sector perform” rating to a “buy” rating in a research report on Tuesday, October 30th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. Cenovus Energy presently has a consensus rating of “Hold” and an average target price of $12.54.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Blume Capital Management Inc. grew its stake in Cenovus Energy by 21.6% during the fourth quarter. Blume Capital Management Inc. now owns 12,381 shares of the oil and gas company’s stock valued at $87,000 after acquiring an additional 2,200 shares in the last quarter. D.A. Davidson & CO. grew its stake in Cenovus Energy by 4.5% during the fourth quarter. D.A. Davidson & CO. now owns 71,778 shares of the oil and gas company’s stock valued at $505,000 after acquiring an additional 3,078 shares in the last quarter. Neuberger Berman Group LLC grew its stake in Cenovus Energy by 3.9% during the third quarter. Neuberger Berman Group LLC now owns 90,889 shares of the oil and gas company’s stock valued at $913,000 after acquiring an additional 3,435 shares in the last quarter. Whittier Trust Co. grew its stake in Cenovus Energy by 52.8% during the fourth quarter. Whittier Trust Co. now owns 11,876 shares of the oil and gas company’s stock valued at $84,000 after acquiring an additional 4,104 shares in the last quarter. Finally, Gateway Investment Advisers LLC grew its stake in Cenovus Energy by 9.5% during the fourth quarter. Gateway Investment Advisers LLC now owns 62,617 shares of the oil and gas company’s stock valued at $440,000 after acquiring an additional 5,429 shares in the last quarter. Hedge funds and other institutional investors own 74.94% of the company’s stock.

Shares of Cenovus Energy stock traded up $0.08 during trading on Friday, hitting $7.57. 349,256 shares of the stock were exchanged, compared to its average volume of 3,974,710. The firm has a market capitalization of $8.90 billion, a PE ratio of -378.75, a P/E/G ratio of 2.84 and a beta of 0.72. Cenovus Energy has a 1-year low of $6.15 and a 1-year high of $11.47. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 0.91.

About Cenovus Energy

Cenovus Energy, Inc engages in gas and oil provisions. Its activities include development, production, and marketing of crude oil, natural gas liquids, and natural gas in Canada. It operates through four segments: Oil Sands, Deep Basin, Refining & Marketing, and Corporate & Eliminations. The Oil sands segment includes the development and production of bitumen and natural gas in northeast Alberta including Foster Creek, Christina Lake and Narrows Lake as well as projects in the early stages of development, such as Grand Rapids and Telephone Lake.

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