Cenovus Energy (CVE) Set to Announce Earnings on Wednesday

Cenovus Energy (TSE:CVE) (NYSE:CVE) is scheduled to 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 data on Thursday, February 15th. The company reported C$0.39 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of C$13.06 billion. Cenovus Energy had a net margin of 7.87% and a return on equity of 14.60%. During the same period in the prior year, the company posted $0.39 earnings per share.

Cenovus Energy Trading Up 0.8 %

Shares of TSE:CVE opened at C$29.32 on Monday. The stock has a market capitalization of C$54.83 billion, a PE ratio of 13.83, a P/E/G ratio of 0.09 and a beta of 2.78. Cenovus Energy has a 1 year low of C$19.82 and a 1 year high of C$29.96. The firm has a fifty day moving average price of C$26.40 and a 200 day moving average price of C$24.47. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 34.64.

Cenovus Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 28th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Thursday, March 14th. Cenovus Energy’s dividend payout ratio is presently 26.42%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. BMO Capital Markets upped their price target on shares of Cenovus Energy from C$29.00 to C$33.00 in a report on Thursday, March 28th. Jefferies Financial Group upped their price target on shares of Cenovus Energy from C$28.00 to C$36.00 and gave the company a “buy” rating in a report on Friday, April 12th. National Bankshares upped their price target on shares of Cenovus Energy from C$29.00 to C$38.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Desjardins upped 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 report on Tuesday, April 23rd. Finally, CIBC upped their price target on shares of Cenovus Energy from C$31.00 to C$35.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cenovus Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of C$33.35.

Insider Activity at Cenovus Energy

In related news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the 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 related news, Senior Officer Andrew Dahlin sold 20,000 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of C$27.08, for a total value of C$541,682.00. Also, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of C$29.21, for a total transaction of C$525,835.80. Over the last 90 days, insiders sold 87,000 shares of company stock worth $2,414,507. Company insiders own 31.50% of the company’s stock.

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.