Cenovus Energy (NYSE:CVE) Issues Earnings Results

Cenovus Energy (NYSE:CVE) (TSE:CVE) released its quarterly earnings data on Thursday. The oil and gas company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.27), Zacks reports. Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $11.08 billion.

Cenovus Energy Trading Down 4.5 %

Shares of Cenovus Energy stock opened at $14.61 on Friday. The firm has a 50-day moving average of $14.99 and a 200-day moving average of $16.30. The stock has a market cap of $26.64 billion, a PE ratio of 12.07 and a beta of 1.99. Cenovus Energy has a 52-week low of $13.76 and a 52-week high of $21.90. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59.

Cenovus Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.1269 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 3.47%. Cenovus Energy’s payout ratio is presently 42.15%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Royal Bank of Canada reduced their price objective on shares of Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Friday. StockNews.com cut shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. National Bank Financial cut shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday. Finally, BMO Capital Markets reduced their price objective on shares of Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Cenovus Energy presently has an average rating of “Moderate Buy” and a consensus price target of $29.25.

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.