Wall Street analysts expect Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) to announce $4.10 billion in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Cenovus Energy’s earnings, with estimates ranging from $3.86 billion to $4.35 billion. Cenovus Energy posted sales of $2.48 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 65.3%. The firm is expected to report its next quarterly earnings report on Thursday, October 26th.

On average, analysts expect that Cenovus Energy will report full year sales of $4.10 billion for the current fiscal year, with estimates ranging from $12.16 billion to $15.55 billion. For the next year, analysts expect that the firm will post sales of $15.23 billion per share, with estimates ranging from $13.11 billion to $17.50 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Cenovus Energy.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.24. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.40 billion. Cenovus Energy had a return on equity of 3.20% and a net margin of 17.89%. During the same period last year, the company earned ($0.05) earnings per share.

Several research firms have recently weighed in on CVE. UBS AG cut Cenovus Energy from a “market perform” rating to an “underperform” rating in a research report on Wednesday, July 5th. BidaskClub cut Cenovus Energy from a “hold” rating to a “sell” rating in a research report on Thursday. Zacks Investment Research raised Cenovus Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Barclays PLC reaffirmed an “overweight” rating and set a $22.00 price objective (up from $15.00) on shares of Cenovus Energy in a research report on Wednesday, July 12th. Finally, ValuEngine raised Cenovus Energy from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $17.34.

Cenovus Energy (CVE) opened at 7.45 on Friday. The firm has a market capitalization of $9.15 billion, a price-to-earnings ratio of 3.18 and a beta of 0.57. The stock’s 50 day moving average price is $7.71 and its 200-day moving average price is $10.06. Cenovus Energy has a one year low of $6.76 and a one year high of $16.82.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors 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 is a boost from Cenovus Energy’s previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a yield of 2.09%. Cenovus Energy’s dividend payout ratio is 8.33%.

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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Gateway Investment Advisers LLC boosted its position in shares of Cenovus Energy by 0.5% in the second quarter. Gateway Investment Advisers LLC now owns 75,312 shares of the oil and gas company’s stock valued at $555,000 after buying an additional 376 shares during the period. Intact Investment Management Inc. boosted its stake in Cenovus Energy by 0.4% in the second quarter. Intact Investment Management Inc. now owns 151,950 shares of the oil and gas company’s stock worth $1,446,000 after buying an additional 600 shares during the last quarter. World Asset Management Inc boosted its stake in Cenovus Energy by 1.4% in the first quarter. World Asset Management Inc now owns 51,918 shares of the oil and gas company’s stock worth $587,000 after buying an additional 695 shares during the last quarter. Bank of Nova Scotia Trust Co. boosted its stake in Cenovus Energy by 2.6% in the second quarter. Bank of Nova Scotia Trust Co. now owns 28,366 shares of the oil and gas company’s stock worth $209,000 after buying an additional 725 shares during the last quarter. Finally, Highstreet Asset Management Inc. boosted its stake in 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 during the last quarter. 55.77% of the stock is owned by hedge funds and other institutional investors.

Cenovus Energy Company Profile

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

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