Equities research analysts expect that Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) will report $4.08 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Cenovus Energy’s earnings, with the highest sales estimate coming in at $4.26 billion and the lowest estimate coming in at $3.89 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 64.5%. The business is expected to issue its next quarterly earnings results on Thursday, October 26th.

On average, analysts expect that Cenovus Energy will report full-year sales of $4.08 billion for the current fiscal year, with estimates ranging from $13.46 billion to $15.37 billion. For the next year, analysts anticipate that the firm will post sales of $15.20 billion per share, with estimates ranging from $13.02 billion to $17.30 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Cenovus Energy.

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

Several research firms have recently commented on CVE. Canaccord Genuity reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Cenovus Energy in a research note on Tuesday, September 5th. BidaskClub downgraded Cenovus Energy from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. ValuEngine raised Cenovus Energy from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Zacks Investment Research downgraded Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 26th. Finally, Morgan Stanley downgraded Cenovus Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 19th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $17.04.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Airain ltd purchased a new position in Cenovus Energy during the 1st quarter valued at approximately $224,000. Tobam purchased a new position in Cenovus Energy during the 2nd quarter valued at approximately $309,000. Segantii Capital Management Ltd purchased a new position in Cenovus Energy during the 1st quarter valued at approximately $56,319,000. Aviva PLC grew its holdings in Cenovus Energy by 23.4% during the 2nd quarter. Aviva PLC now owns 639,225 shares of the oil and gas company’s stock valued at $4,707,000 after buying an additional 121,210 shares in the last quarter. Finally, Capital Fund Management S.A. grew its holdings in Cenovus Energy by 80.2% during the 2nd quarter. Capital Fund Management S.A. now owns 933,736 shares of the oil and gas company’s stock valued at $6,882,000 after buying an additional 415,456 shares in the last quarter. Institutional investors and hedge funds own 56.17% of the company’s stock.

Cenovus Energy (NYSE:CVE) opened at 10.28 on Friday. Cenovus Energy has a 12-month low of $6.76 and a 12-month high of $16.82. The company has a market capitalization of $12.63 billion, a PE ratio of 4.20 and a beta of 0.56. The stock has a 50 day moving average of $8.07 and a 200 day moving average of $9.17.

The company 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 dividend of $0.039 per share. This represents a $0.16 annualized dividend and a yield of 1.52%. The ex-dividend date is Thursday, September 14th. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.04. Cenovus Energy’s dividend payout ratio (DPR) is currently 8.89%.

About Cenovus Energy

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

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