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

Cenovus Energy Price Performance

Shares of CVE traded down C$0.50 during trading hours on Tuesday, reaching C$28.93. 1,456,491 shares of the company’s stock traded hands, compared to its average volume of 4,564,846. The stock has a market cap of C$54.10 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 0.09 and a beta of 2.78. 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 firm’s 50 day simple moving average is C$26.52 and its 200-day simple moving average is C$24.48. Cenovus Energy has a 12 month low of C$19.82 and a 12 month high of C$29.96.

Cenovus Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 28th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.94%. Cenovus Energy’s dividend payout ratio (DPR) is presently 26.42%.

Insider Activity

In other Cenovus Energy news, Senior Officer Jonathan Michael Mckenzie purchased 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was bought at an average price of C$23.49 per share, with a total value of C$1,174,500.00. In other Cenovus Energy news, Senior Officer Andrew Dahlin sold 25,000 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of C$25.99, for a total value of C$649,657.50. Also, Senior Officer Jonathan Michael Mckenzie acquired 50,000 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was purchased at an average price of C$23.49 per share, with a total value of C$1,174,500.00. Over the last 90 days, insiders sold 87,000 shares of company stock valued at $2,414,507. 31.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on CVE shares. Desjardins lifted their price target on Cenovus Energy from C$29.50 to C$31.50 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Jefferies Financial Group raised their price objective on Cenovus Energy from C$28.00 to C$36.00 and gave the company a “buy” rating in a report on Friday, April 12th. Scotiabank decreased their price objective on Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating on the stock in a report on Tuesday, January 16th. Royal Bank of Canada raised their price objective on Cenovus Energy from C$28.00 to C$32.00 in a report on Tuesday, April 9th. Finally, National Bankshares raised their price objective on Cenovus Energy from C$29.00 to C$38.00 and gave the company an “outperform” rating in a report on Friday, April 19th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cenovus Energy currently has a consensus 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.