Cenovus Energy FY2025 EPS Raised by Raymond James Financial

Key Points

• Raymond James Financial has raised its FY2025 earnings estimate for Cenovus Energy to $1.70 per share from $1.60, maintaining an "Outperform" rating with a target price of $30.00.
• The company recently declared a quarterly dividend of $0.20 per share, providing a 3.4% yield, with an ex-dividend date of September 15th.
• Cenovus Energy has experienced various target price adjustments from analysts, with a consensus target price of C$28.20 and ratings reflecting a general optimism as nine analysts have a "Buy" rating on the stock.

Cenovus Energy Inc. (TSE:CVE - Free Report) NYSE: CVE - Investment analysts at Raymond James Financial lifted their FY2025 earnings estimates for Cenovus Energy in a report released on Wednesday, September 10th. Raymond James Financial analyst M. Barth now expects that the company will post earnings per share of $1.70 for the year, up from their previous forecast of $1.60. Raymond James Financial currently has a "Outperform" rating and a $30.00 price objective on the stock. The consensus estimate for Cenovus Energy's current full-year earnings is $2.26 per share. Raymond James Financial also issued estimates for Cenovus Energy's FY2026 earnings at $1.43 EPS, FY2027 earnings at $1.63 EPS and FY2028 earnings at $2.81 EPS.

Several other research analysts have also recently commented on the stock. Desjardins raised their target price on shares of Cenovus Energy from C$27.50 to C$29.00 in a report on Monday, August 25th. National Bankshares raised their target price on shares of Cenovus Energy from C$28.00 to C$29.00 and gave the stock an "outperform" rating in a report on Wednesday. Jefferies Financial Group raised their target price on shares of Cenovus Energy from C$25.00 to C$29.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. Royal Bank Of Canada raised their price target on shares of Cenovus Energy from C$25.00 to C$26.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Cenovus Energy from C$32.00 to C$29.00 and set an "overweight" rating for the company in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Cenovus Energy presently has an average rating of "Buy" and a consensus target price of C$27.90.

Cenovus Energy Stock Performance

Shares of CVE remained flat at C$23.38 during midday trading on Thursday. 13,256,853 shares of the company's stock traded hands, compared to its average volume of 7,477,356. Cenovus Energy has a one year low of C$14.48 and a one year high of C$25.31. The stock's fifty day moving average price is C$21.07 and its 200-day moving average price is C$19.29. The company has a market capitalization of C$42.08 billion, a price-to-earnings ratio of 16.24, a P/E/G ratio of 0.09 and a beta of 0.78. The company has a current ratio of 1.59, a quick ratio of 1.00 and a debt-to-equity ratio of 33.59.

Cenovus Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 29th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Monday, September 15th. Cenovus Energy's dividend payout ratio (DPR) is presently 51.39%.

Insiders Place Their Bets

In related news, insider Hutchison Whampoa Europe Investments S.à r.l. sold 684,838 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of C$20.28, for a total transaction of C$13,886,994.98. Insiders own 32.03% of the company's stock.

About Cenovus Energy

Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 472 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds 6.7 billion boe of proven and probable reserves.