Cenovus Energy Inc (NYSE:CVE) Plans C$0.20 Quarterly Dividend

Key Points

• Cenovus Energy Inc has declared a quarterly dividend of C$0.20, set to be paid on September 29th to stockholders of record as of September 15th.
• The company reported $0.33 EPS for the last quarter, exceeding analysts' estimates, while its quarterly revenue was down 12.6% year-over-year.
• Cenovus Energy has a current payout ratio of 55.2%, indicating that its dividend is well-supported by earnings, with projections for $1.91 EPS next year.

Cenovus Energy Inc (NYSE:CVE - Get Free Report) TSE: CVE declared a quarterly dividend on Thursday, July 31st. Stockholders of record on Monday, September 15th will be given a dividend of 0.20 per share by the oil and gas company on Monday, September 29th. This represents a c) dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Monday, September 15th.

Cenovus Energy has a payout ratio of 55.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Cenovus Energy to earn $1.91 per share next year, which means the company should continue to be able to cover its $0.58 annual dividend with an expected future payout ratio of 30.4%.

Cenovus Energy Trading Down 0.1%

Cenovus Energy stock traded down $0.01 during trading on Friday, hitting $16.89. The company's stock had a trading volume of 28,727,279 shares, compared to its average volume of 14,035,722. The stock has a market capitalization of $30.38 billion, a price-to-earnings ratio of 16.72 and a beta of 0.99. The stock's fifty day moving average is $15.31 and its 200 day moving average is $13.89. Cenovus Energy has a 1-year low of $10.23 and a 1-year high of $18.61. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.78 and a current ratio of 1.32.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last released its earnings results on Thursday, July 31st. The oil and gas company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.14 by $0.19. The firm 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 business's quarterly revenue was down 12.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.62 earnings per share. As a group, equities research analysts predict that Cenovus Energy will post 1.49 EPS for the current year.

Institutional Trading of Cenovus Energy

Hedge funds have recently added to or reduced their stakes in the business. Ridgewood Investments LLC bought a new stake in Cenovus Energy during the 2nd quarter valued at $27,000. Atlantic Union Bankshares Corp bought a new stake in Cenovus Energy during the 2nd quarter valued at $27,000. Allworth Financial LP raised its stake in shares of Cenovus Energy by 104.3% in the 2nd quarter. Allworth Financial LP now owns 2,288 shares of the oil and gas company's stock worth $31,000 after buying an additional 1,168 shares in the last quarter. Bruce G. Allen Investments LLC bought a new stake in shares of Cenovus Energy in the 1st quarter worth $38,000. Finally, Cromwell Holdings LLC raised its stake in shares of 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 worth $42,000 after buying an additional 2,808 shares in the last quarter. Institutional investors own 51.19% of the company's stock.

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.

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