Brokers Issue Forecasts for Cenovus Energy FY2028 Earnings

Cenovus Energy Inc. (TSE:CVE - Free Report) NYSE: CVE - Stock analysts at Raymond James reduced their FY2028 earnings per share estimates for shares of Cenovus Energy in a report issued on Thursday, May 8th. Raymond James analyst M. Barth now anticipates that the company will post earnings per share of $2.72 for the year, down from their prior estimate of $2.93. The consensus estimate for Cenovus Energy's current full-year earnings is $2.26 per share. Raymond James also issued estimates for Cenovus Energy's FY2029 earnings at $2.90 EPS.

CVE has been the topic of a number of other reports. Jefferies Financial Group cut their price target on Cenovus Energy from C$32.00 to C$30.00 in a report on Thursday, January 30th. TD Securities lifted their price target on Cenovus Energy from C$25.00 to C$26.00 and gave the company a "buy" rating in a report on Friday, May 9th. National Bank Financial downgraded Cenovus Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 20th. Desjardins dropped their target price on Cenovus Energy from C$24.50 to C$22.50 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Finally, Veritas downgraded Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Cenovus Energy presently has an average rating of "Moderate Buy" and an average target price of C$28.15.

Cenovus Energy Stock Up 0.7%

TSE CVE traded up C$0.14 on Monday, reaching C$19.18. 7,560,091 shares of the stock traded hands, compared to its average volume of 5,980,237. The company has a debt-to-equity ratio of 33.59, a quick ratio of 1.00 and a current ratio of 1.59. The company has a fifty day moving average price of C$17.85 and a 200-day moving average price of C$20.17. The company has a market cap of C$34.94 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 0.09 and a beta of 2.63. Cenovus Energy has a 12 month low of C$14.48 and a 12 month high of C$28.82.

Cenovus Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.72 annualized dividend and a yield of 3.75%. Cenovus Energy's payout ratio is presently 35.49%.

Insider Buying and Selling at Cenovus Energy

In other news, insider Hutchison Whampoa Europe Investments S.à r.l. sold 77,429 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of C$19.60, for a total value of C$1,517,987.80. Also, Senior Officer Karamjit Singh Sandhar acquired 5,000 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was bought at an average cost of C$20.05 per share, with a total value of C$100,250.00. In the last 90 days, insiders have bought 32,934 shares of company stock worth $637,721. 32.03% of the stock is currently owned by insiders.

Cenovus Energy Company Profile

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.