Analysts predict that Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) will post sales of $4.07 billion for the current quarter, according to Zacks. Two analysts have issued estimates for Cenovus Energy’s earnings. The highest sales estimate is $4.26 billion and the lowest is $3.87 billion. Cenovus Energy posted sales of $2.48 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 64.1%. The firm is expected to report its next earnings report before the market opens on Thursday, November 2nd.

On average, analysts expect that Cenovus Energy will report full-year sales of $4.07 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 company will post sales of $15.35 billion per share, with estimates ranging from $13.02 billion to $17.30 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Cenovus Energy.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued 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 Thomson Reuters’ consensus estimate of $0.03 by $0.24. Cenovus Energy had a net margin of 17.89% and a return on equity of 3.20%. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter last year, the company earned ($0.05) earnings per share.

A number of analysts have recently issued reports on CVE shares. Canaccord Genuity restated a “buy” rating and set a $14.00 price objective on shares of Cenovus Energy in a research report on Tuesday, September 5th. Morgan Stanley cut Cenovus Energy from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, July 19th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $8.00 price objective on shares of Cenovus Energy in a research report on Thursday, June 22nd. Zacks Investment Research cut Cenovus Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, National Bank Financial started coverage on Cenovus Energy in a research report on Tuesday, June 27th. They set a “sector perform” rating on the stock. Four analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $16.84.

Several institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC lifted its stake in shares of Cenovus Energy by 23.7% during the second quarter. FMR LLC now owns 54,026,588 shares of the oil and gas company’s stock valued at $398,284,000 after acquiring an additional 10,341,993 shares during the period. TD Asset Management Inc. lifted its stake in shares of Cenovus Energy by 5.3% during the second quarter. TD Asset Management Inc. now owns 43,148,765 shares of the oil and gas company’s stock valued at $317,627,000 after acquiring an additional 2,169,650 shares during the period. First Eagle Investment Management LLC lifted its stake in shares of Cenovus Energy by 1.4% during the second quarter. First Eagle Investment Management LLC now owns 32,113,640 shares of the oil and gas company’s stock valued at $236,678,000 after acquiring an additional 437,897 shares during the period. Letko Brosseau & Associates Inc. lifted its stake in shares of Cenovus Energy by 37.1% during the second quarter. Letko Brosseau & Associates Inc. now owns 27,158,632 shares of the oil and gas company’s stock valued at $199,920,000 after acquiring an additional 7,354,590 shares during the period. Finally, Burgundy Asset Management Ltd. lifted its stake in shares of Cenovus Energy by 49.0% during the second quarter. Burgundy Asset Management Ltd. now owns 25,289,102 shares of the oil and gas company’s stock valued at $186,301,000 after acquiring an additional 8,322,165 shares during the period. 56.17% of the stock is currently owned by institutional investors and hedge funds.

Shares of Cenovus Energy (CVE) traded up 1.99% during mid-day trading on Friday, reaching $9.76. 1,398,748 shares of the company’s stock traded hands. Cenovus Energy has a 1-year low of $6.76 and a 1-year high of $16.82. The firm has a 50-day moving average price of $9.09 and a 200-day moving average price of $8.92. The company has a market capitalization of $11.99 billion, a P/E ratio of 3.98 and a beta of 0.60.

The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were paid a dividend of $0.039 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Thursday, September 14th. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.04. Cenovus Energy’s dividend payout ratio is 8.89%.

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

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