Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE - Raymond James Financial boosted their FY2029 EPS estimates for shares of Cenovus Energy in a research report issued to clients and investors on Thursday, July 31st. Raymond James Financial analyst M. Barth now anticipates that the oil and gas company will post earnings per share of $2.10 for the year, up from their previous estimate of $2.09. The consensus estimate for Cenovus Energy's current full-year earnings is $1.49 per share.
A number of other brokerages also recently issued reports on CVE. Royal Bank Of Canada increased their price target on shares of Cenovus Energy from $25.00 to $26.00 and gave the stock an "outperform" rating in a report on Friday. National Bankshares reiterated a "sector perform" rating on shares of Cenovus Energy in a research report on Friday, April 25th. Wall Street Zen upgraded shares of Cenovus Energy from a "sell" rating to a "hold" rating in a research report on Sunday. Morgan Stanley reissued an "overweight" rating on shares of Cenovus Energy in a report on Tuesday, April 15th. Finally, Veritas lowered Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 14th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $23.33.
Check Out Our Latest Stock Analysis on CVE
Cenovus Energy Price Performance
CVE stock traded up $0.20 during trading on Monday, hitting $15.11. 11,631,508 shares of the company's stock traded hands, compared to its average volume of 12,508,957. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.78 and a current ratio of 1.32. The stock has a market capitalization of $27.29 billion, a price-to-earnings ratio of 14.96 and a beta of 0.97. The business has a fifty day simple moving average of $14.18 and a 200 day simple moving average of $13.69. Cenovus Energy has a 52 week low of $10.23 and a 52 week high of $20.03.
Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last posted its earnings results on Thursday, July 31st. The oil and gas company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.19. The business had revenue of $10.66 billion during the quarter, compared to analyst estimates of $10.64 billion. Cenovus Energy had a return on equity of 9.06% and a net margin of 5.18%. The company's quarterly revenue was down 12.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.62 EPS.
Institutional Investors Weigh In On Cenovus Energy
Several institutional investors have recently made changes to their positions in the stock. Ridgewood Investments LLC purchased a new stake in Cenovus Energy in the 2nd quarter valued at about $27,000. Bruce G. Allen Investments LLC purchased a new stake in Cenovus Energy in the 1st quarter valued at about $38,000. Cromwell Holdings LLC grew its holdings in Cenovus Energy by 1,165.1% in the 1st quarter. Cromwell Holdings LLC now owns 3,049 shares of the oil and gas company's stock valued at $42,000 after buying an additional 2,808 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Cenovus Energy in the 1st quarter valued at about $42,000. Finally, MassMutual Private Wealth & Trust FSB increased its position in Cenovus Energy by 190.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 5,988 shares of the oil and gas company's stock worth $81,000 after purchasing an additional 3,924 shares in the last quarter. 51.19% of the stock is currently owned by hedge funds and other institutional investors.
Cenovus Energy Increases Dividend
The business also recently announced a dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a dividend of $0.20 per share. This represents a dividend yield of 425.0%. The ex-dividend date was Friday, June 13th. This is an increase from Cenovus Energy's previous dividend of $0.11. Cenovus Energy's payout ratio is presently 57.43%.
About Cenovus Energy
(
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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.
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