Cenovus Energy FY2025 EPS Lifted by Raymond James Financial

Key Points

• Raymond James Financial has increased its FY2025 EPS estimate for Cenovus Energy from $1.22 to $1.44, maintaining a "Strong-Buy" rating on the stock.
• Cenovus Energy reported quarterly earnings of $0.33 per share, surpassing consensus estimates, but its revenue declined by 12.6% year-over-year.
• The company recently declared a quarterly dividend of $0.20 per share, equating to an annualized dividend of $0.80 and a dividend yield of 4.4%.

Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE - Investment analysts at Raymond James Financial boosted their FY2025 earnings per share (EPS) estimates for shares of Cenovus Energy in a research note issued on Thursday, October 9th. Raymond James Financial analyst M. Barth now anticipates that the oil and gas company will post earnings of $1.44 per share for the year, up from their previous estimate of $1.22. Raymond James Financial currently has a "Strong-Buy" rating on the stock. The consensus estimate for Cenovus Energy's current full-year earnings is $1.49 per share.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released its quarterly earnings data on Thursday, July 31st. The oil and gas company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.19. The business had revenue of $10.66 billion for the quarter, compared to analyst estimates of $10.64 billion. Cenovus Energy had a net margin of 5.18% and a return on equity of 9.06%. Cenovus Energy's quarterly revenue was down 12.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.62 EPS.

Other analysts also recently issued research reports about the company. National Bankshares reaffirmed an "outperform" rating on shares of Cenovus Energy in a research note on Wednesday, September 10th. Royal Bank Of Canada raised their price target on Cenovus Energy from $25.00 to $26.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Jefferies Financial Group reiterated a "buy" rating on shares of Cenovus Energy in a report on Tuesday, September 2nd. Weiss Ratings reissued a "hold (c-)" rating on shares of Cenovus Energy in a research note on Wednesday. Finally, Wall Street Zen raised shares of Cenovus Energy from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $23.33.

Cenovus Energy Stock Up 2.4%

Shares of NYSE:CVE opened at $18.11 on Friday. The company has a 50 day moving average price of $16.39 and a two-hundred day moving average price of $14.42. 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 company has a market capitalization of $32.37 billion, a PE ratio of 17.93 and a beta of 0.92. Cenovus Energy has a 52 week low of $10.23 and a 52 week high of $18.61.

Cenovus Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, September 15th. Cenovus Energy's dividend payout ratio (DPR) is currently 57.43%.

Institutional Trading of Cenovus Energy

Institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp grew its position in Cenovus Energy by 56.5% in the first quarter. Mackenzie Financial Corp now owns 19,481,233 shares of the oil and gas company's stock valued at $270,742,000 after purchasing an additional 7,035,004 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Cenovus Energy by 185.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 48,103 shares of the oil and gas company's stock valued at $669,000 after acquiring an additional 31,265 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its position in shares of Cenovus Energy by 68.2% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 655,133 shares of the oil and gas company's stock valued at $9,113,000 after acquiring an additional 265,638 shares during the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Cenovus Energy in the first quarter valued at about $1,907,000. Finally, 111 Capital raised its holdings in Cenovus Energy by 75.6% during the second quarter. 111 Capital now owns 74,541 shares of the oil and gas company's stock worth $1,015,000 after acquiring an additional 32,092 shares in the last quarter. Institutional investors own 51.19% 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.

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