Cenovus Energy (CVE) to Release Quarterly Earnings on Wednesday

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE is set to post its quarterly earnings results before the market opens on Wednesday, May 1st. Analysts expect Cenovus Energy to post earnings of $0.35 per share for the quarter.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last posted its quarterly earnings data on Thursday, February 15th. The oil and gas company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.25 by $0.04. Cenovus Energy had a return on equity of 14.85% and a net margin of 7.88%. The business had revenue of $9.65 billion for the quarter, compared to the consensus estimate of $9.73 billion. During the same quarter in the prior year, the business earned $0.29 earnings per share. On average, analysts expect Cenovus Energy to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Cenovus Energy Stock Performance

NYSE:CVE traded up $0.05 during trading hours on Thursday, reaching $21.28. The stock had a trading volume of 7,694,679 shares, compared to its average volume of 11,251,181. The stock has a 50 day simple moving average of $19.26 and a 200 day simple moving average of $18.04. Cenovus Energy has a 12-month low of $14.69 and a 12-month high of $21.90. The stock has a market cap of $39.69 billion, a P/E ratio of 13.47 and a beta of 2.15. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.91 and a current ratio of 1.56.

Cenovus Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.1033 per share. This is a boost from Cenovus Energy's previous quarterly dividend of $0.10. The ex-dividend date was Thursday, March 14th. This represents a $0.41 dividend on an annualized basis and a yield of 1.94%. Cenovus Energy's payout ratio is presently 25.95%.

Wall Street Analyst Weigh In

Several analysts have issued reports on CVE shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $28.00 target price on shares of Cenovus Energy in a research note on Friday, January 26th. UBS Group upgraded shares of Cenovus Energy from a "neutral" rating to a "buy" rating in a research report on Friday, February 23rd. StockNews.com raised Cenovus Energy from a "hold" rating to a "buy" rating in a research report on Thursday, April 11th. Finally, Morgan Stanley upped their price target on Cenovus Energy from $28.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday, March 28th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $26.67.

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.