Equities research analysts expect Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) to report earnings of $0.05 per share for the current quarter, Zacks reports. Two analysts have provided estimates for Cenovus Energy’s earnings, with the highest EPS estimate coming in at $0.09 and the lowest estimate coming in at $0.02. Cenovus Energy posted earnings per share of ($0.22) during the same quarter last year, which would suggest a positive year-over-year growth rate of 122.7%. The company is scheduled to issue its next quarterly earnings report on Thursday, October 26th.

According to Zacks, analysts expect that Cenovus Energy will report full year earnings of $0.31 per share for the current financial year, with EPS estimates ranging from $0.14 to $0.42. For the next year, analysts anticipate that the firm will report earnings of $0.17 per share, with EPS estimates ranging from ($0.30) to $0.50. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover Cenovus Energy.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its earnings results on Thursday, July 27th. The oil and gas company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.24. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.40 billion. Cenovus Energy had a return on equity of 65.90% and a net margin of 63.93%. During the same period last year, the firm earned ($0.05) earnings per share.

A number of research analysts have weighed in on CVE shares. Canaccord Genuity reissued a “hold” rating and set a $16.50 target price on shares of Cenovus Energy in a research report on Wednesday, April 26th. Zacks Investment Research lowered shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Monday, May 1st. Credit Suisse Group reissued an “outperform” rating on shares of Cenovus Energy in a research report on Friday, May 26th. ValuEngine lowered shares of Cenovus Energy from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Finally, BidaskClub raised shares of Cenovus Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $17.34.

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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Allegis Investment Advisors LLC raised its position in shares of Cenovus Energy by 16.9% in the second quarter. Allegis Investment Advisors LLC now owns 13,933 shares of the oil and gas company’s stock worth $103,000 after buying an additional 2,016 shares in the last quarter. Cigna Investments Inc. New bought a new position in shares of Cenovus Energy during the second quarter worth approximately $110,000. FNY Partners Fund LP bought a new position in shares of Cenovus Energy during the first quarter worth approximately $113,000. First Commonwealth Financial Corp PA bought a new position in shares of Cenovus Energy during the second quarter worth approximately $114,000. Finally, Sciencast Management LP bought a new position in shares of Cenovus Energy during the second quarter worth approximately $124,000. 55.77% of the stock is owned by institutional investors and hedge funds.

Shares of Cenovus Energy (NYSE CVE) traded up 0.52% during mid-day trading on Wednesday, hitting $7.68. The stock had a trading volume of 305,588 shares. Cenovus Energy has a 52 week low of $6.76 and a 52 week high of $16.82. The stock has a 50-day moving average price of $7.70 and a 200 day moving average price of $10.10. The stock has a market cap of $9.44 billion, a P/E ratio of 3.24 and a beta of 0.57.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.039 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.04%. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.04. Cenovus Energy’s dividend payout ratio is currently 8.33%.

Cenovus Energy Company Profile

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

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