Cenovus Energy (CVE) Set to Announce Quarterly Earnings on Wednesday

Cenovus Energy (TSE:CVE) (NYSE:CVE) will be issuing its quarterly earnings data 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 posted its quarterly earnings results on Thursday, February 15th. The company reported C$0.39 EPS for the quarter, beating the consensus estimate of C$0.33 by C$0.06. Cenovus Energy had a net margin of 7.87% and a return on equity of 14.60%. The business had revenue of C$13.13 billion during the quarter, compared to analyst estimates of C$13.06 billion. During the same period in the previous year, the business posted $0.39 EPS.

Cenovus Energy Stock Performance

Shares of TSE CVE traded down C$0.50 during midday trading on Tuesday, hitting C$28.93. The company’s stock had a trading volume of 1,456,491 shares, compared to its average volume of 4,564,846. Cenovus Energy has a 1-year low of C$19.82 and a 1-year high of C$29.96. The firm’s fifty day moving average price is C$26.52 and its 200-day moving average price is C$24.48. The company has a debt-to-equity ratio of 34.64, a quick ratio of 1.00 and a current ratio of 1.56. The firm has a market cap of C$54.10 billion, a P/E ratio of 13.88, a P/E/G ratio of 0.09 and a beta of 2.78.

Cenovus Energy Announces Dividend

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

Insider Activity at Cenovus Energy

In other news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the stock in a transaction on 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 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 transaction of C$525,835.80. Also, Senior Officer Jonathan Michael Mckenzie bought 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were purchased at an average price of C$23.49 per share, with a total value of C$1,174,500.00. Insiders sold a total of 87,000 shares of company stock worth $2,414,507 in the last ninety days. 31.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CVE shares. Scotiabank reduced their target price on shares of Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating for the company in a research note on Tuesday, January 16th. JPMorgan Chase & Co. reduced their price target on shares of Cenovus Energy from C$35.00 to C$34.00 in a research note on Thursday, January 11th. CIBC upped their price target on shares of Cenovus Energy from C$31.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Monday, April 22nd. Jefferies Financial Group upped their price target on shares of Cenovus Energy from C$28.00 to C$36.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Finally, Royal Bank of Canada boosted their target price on shares of Cenovus Energy from C$28.00 to C$32.00 in a report on Tuesday, April 9th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Cenovus Energy presently has an average rating of “Moderate Buy” and an average target price of C$33.35.

About Cenovus Energy

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.