Analysts Anticipate Cenovus Energy Inc. (NYSE:CVE) to Announce $0.16 Earnings Per Share

Wall Street analysts expect that Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) will post $0.16 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Cenovus Energy’s earnings. Cenovus Energy posted earnings per share of ($0.25) during the same quarter last year, which indicates a positive year-over-year growth rate of 164%. The company is expected to issue its next earnings results on Thursday, July 22nd.

On average, analysts expect that Cenovus Energy will report full-year earnings of $0.56 per share for the current year. For the next fiscal year, analysts expect that the firm will post earnings of $0.64 per share. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Cenovus Energy.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its earnings results on Thursday, May 6th. The oil and gas company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.04). The firm had revenue of $7.52 billion for the quarter, compared to the consensus estimate of $7.32 billion. Cenovus Energy had a negative return on equity of 12.48% and a negative net margin of 14.15%. During the same period in the prior year, the business earned ($0.12) EPS.

Several research firms recently commented on CVE. Raymond James raised Cenovus Energy from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 16th. Zacks Investment Research downgraded shares of Cenovus Energy from a “hold” rating to a “sell” rating and set a $7.00 target price on the stock. in a research report on Friday, February 12th. National Bank Financial restated an “outperform” rating on shares of Cenovus Energy in a report on Thursday, April 15th. TD Securities cut their price objective on shares of Cenovus Energy from $10.50 to $10.00 and set a “buy” rating on the stock in a research report on Friday, January 29th. Finally, Desjardins upgraded Cenovus Energy from a “hold” rating to a “buy” rating and increased their price target for the stock from $8.00 to $14.00 in a report on Friday, March 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $9.52.

Shares of CVE stock traded down $0.20 during mid-day trading on Thursday, hitting $7.70. The company’s stock had a trading volume of 11,514,565 shares, compared to its average volume of 9,920,142. The company has a market cap of $15.53 billion, a PE ratio of -6.02 and a beta of 3.12. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.80 and a current ratio of 1.38. The company’s fifty day simple moving average is $7.74 and its 200-day simple moving average is $6.48. Cenovus Energy has a 52 week low of $3.15 and a 52 week high of $8.57.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Tuesday, June 15th will be issued a dividend of $0.0144 per share. The ex-dividend date of this dividend is Monday, June 14th. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a yield of 0.75%.

Several hedge funds and other institutional investors have recently bought and sold shares of CVE. CIBC World Markets Inc. boosted its holdings in Cenovus Energy by 1.4% in the 4th quarter. CIBC World Markets Inc. now owns 8,436,104 shares of the oil and gas company’s stock worth $50,954,000 after buying an additional 113,412 shares during the period. Toronto Dominion Bank grew its position in shares of Cenovus Energy by 12.0% in the fourth quarter. Toronto Dominion Bank now owns 6,720,687 shares of the oil and gas company’s stock valued at $40,807,000 after purchasing an additional 718,954 shares in the last quarter. Boston Partners grew its position in shares of Cenovus Energy by 489.6% in the first quarter. Boston Partners now owns 6,526,372 shares of the oil and gas company’s stock valued at $58,999,000 after purchasing an additional 5,419,505 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Cenovus Energy by 12.4% during the 4th quarter. JPMorgan Chase & Co. now owns 5,512,037 shares of the oil and gas company’s stock valued at $33,292,000 after purchasing an additional 609,503 shares during the period. Finally, Swiss National Bank lifted its holdings in Cenovus Energy by 22.0% during the 1st quarter. Swiss National Bank now owns 5,317,035 shares of the oil and gas company’s stock worth $39,923,000 after purchasing an additional 960,135 shares in the last quarter. 72.72% of the stock is currently owned by institutional investors.

About Cenovus Energy

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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