Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) – Equities research analysts at Cormark reduced their FY2018 earnings per share (EPS) estimates for shares of Cenovus Energy in a research report issued on Wednesday. Cormark analyst A. Arif now forecasts that the oil and gas company will post earnings of $0.23 per share for the year, down from their previous forecast of $0.38. Cormark also issued estimates for Cenovus Energy’s FY2019 earnings at $0.40 EPS.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its 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. Cenovus Energy had a return on equity of 3.20% and a net margin of 17.89%. The business had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter in the prior year, the firm earned ($0.05) earnings per share.

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A number of other research firms also recently issued reports on CVE. Credit Suisse Group reiterated an “outperform” rating on shares of Cenovus Energy in a research report on Friday, May 26th. ValuEngine downgraded shares of Cenovus Energy from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. BidaskClub upgraded shares of Cenovus Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Canaccord Genuity reiterated a “buy” rating and set a $14.00 price target on shares of Cenovus Energy in a research report on Tuesday. Finally, Zacks Investment Research downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, July 26th. Four investment 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. Cenovus Energy presently has an average rating of “Hold” and an average price target of $17.04.

Shares of Cenovus Energy (NYSE CVE) traded down 2.14% during trading on Friday, hitting $8.22. The company’s stock had a trading volume of 1,040,423 shares. Cenovus Energy has a one year low of $6.76 and a one year high of $16.82. The stock has a market cap of $10.10 billion, a PE ratio of 3.50 and a beta of 0.56. The company has a 50-day moving average price of $7.88 and a 200-day moving average price of $9.44.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.039 dividend. The ex-dividend date is Thursday, September 14th. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a yield of 1.86%. Cenovus Energy’s payout ratio is 8.33%.

Several hedge funds and other institutional investors have recently made changes to their positions in CVE. Acadian Asset Management LLC grew its stake in shares of Cenovus Energy by 51.6% during the 1st quarter. Acadian Asset Management LLC now owns 13,800 shares of the oil and gas company’s stock valued at $156,000 after buying an additional 4,700 shares during the period. Wells Fargo & Company MN grew its stake in shares of Cenovus Energy by 16.1% during the 1st quarter. Wells Fargo & Company MN now owns 81,531 shares of the oil and gas company’s stock valued at $921,000 after buying an additional 11,313 shares during the period. First Trust Advisors LP grew its stake in shares of Cenovus Energy by 17.8% during the 1st quarter. First Trust Advisors LP now owns 43,183 shares of the oil and gas company’s stock valued at $488,000 after buying an additional 6,521 shares during the period. Princeton Alpha Management LP grew its stake in shares of Cenovus Energy by 26.2% during the 1st quarter. Princeton Alpha Management LP now owns 25,850 shares of the oil and gas company’s stock valued at $292,000 after buying an additional 5,374 shares during the period. Finally, World Asset Management Inc grew its stake in shares of Cenovus Energy by 1.4% during the 1st quarter. World Asset Management Inc now owns 51,918 shares of the oil and gas company’s stock valued at $587,000 after buying an additional 695 shares during the period. 56.17% of the stock is owned by institutional investors.

About Cenovus Energy

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

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