Wall Street brokerages expect Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) to announce $3.40 billion in sales for the current quarter, Zacks reports. Three analysts have made estimates for Cenovus Energy’s earnings. The lowest sales estimate is $2.87 billion and the highest is $3.70 billion. Cenovus Energy posted sales of $2.33 billion in the same quarter last year, which suggests a positive year over year growth rate of 45.9%. The company is scheduled to report its next quarterly earnings report before the market opens on Thursday, July 27th.

According to Zacks, analysts expect that Cenovus Energy will report full-year sales of $3.40 billion for the current fiscal year, with estimates ranging from $12.16 billion to $14.97 billion. For the next year, analysts forecast that the firm will report sales of $14.94 billion per share, with estimates ranging from $13.11 billion to $16.33 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Cenovus Energy.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Wednesday, April 26th. The oil and gas company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.02 by $0.06. The company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $3.21 billion. Cenovus Energy had a positive return on equity of 0.03% and a negative net margin of 1.64%. During the same period in the previous year, the company earned ($0.51) EPS.

Several research firms recently issued reports on CVE. Macquarie upgraded Cenovus Energy from an “underperform” rating to a “neutral” rating in a report on Thursday, March 30th. TD Securities upgraded Cenovus Energy from a “hold” rating to a “buy” rating in a report on Friday, March 24th. Canaccord Genuity reiterated a “hold” rating and issued a $16.50 price target on shares of Cenovus Energy in a report on Wednesday, April 26th. Zacks Investment Research cut Cenovus Energy from a “buy” rating to a “hold” rating in a report on Monday, May 1st. Finally, Credit Suisse Group reiterated an “outperform” rating on shares of Cenovus Energy in a report on Friday, May 26th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $18.95.

Shares of Cenovus Energy (NYSE CVE) traded down 2.472% during midday trading on Friday, reaching $6.905. 6,311,202 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $8.48 and its 200 day moving average price is $11.79. The firm’s market capitalization is $5.75 billion. Cenovus Energy has a 52-week low of $6.76 and a 52-week high of $16.82.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 15th were given a dividend of $0.0371 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Tuesday, June 13th. Cenovus Energy’s dividend payout ratio is currently -71.43%.

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Several large investors have recently added to or reduced their stakes in the company. Airain ltd acquired a new stake in Cenovus Energy during the first quarter worth approximately $224,000. TradeLink Capital LLC purchased a new stake in shares of Cenovus Energy during the first quarter worth about $497,000. Segantii Capital Management Ltd purchased a new stake in shares of Cenovus Energy during the first quarter worth about $56,319,000. British Columbia Investment Management Corp raised its stake in shares of Cenovus Energy by 23.7% in the first quarter. British Columbia Investment Management Corp now owns 157,700 shares of the oil and gas company’s stock worth $1,336,000 after buying an additional 30,200 shares in the last quarter. Finally, Highstreet Asset Management Inc. raised its stake in shares of Cenovus Energy by 2.3% in the first quarter. Highstreet Asset Management Inc. now owns 35,282 shares of the oil and gas company’s stock worth $399,000 after buying an additional 782 shares in the last quarter. 56.96% of the stock is currently owned by institutional investors.

Cenovus Energy Company Profile

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Earnings History and Estimates for Cenovus Energy (NYSE:CVE)

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