Equities research analysts forecast that Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) will announce earnings per share (EPS) of $0.10 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Cenovus Energy’s earnings, with the lowest EPS estimate coming in at $0.05 and the highest estimate coming in at $0.12. Cenovus Energy posted earnings of $0.29 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 65.5%. The firm is expected to issue its next earnings results before the market opens on Thursday, February 15th.
On average, analysts expect that Cenovus Energy will report full-year earnings of $0.61 per share for the current year, with EPS estimates ranging from $0.57 to $0.70. For the next financial year, analysts anticipate that the company will post earnings of $0.22 per share, with EPS estimates ranging from $0.08 to $0.45. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Cenovus Energy.
A number of research analysts have weighed in on CVE shares. Canaccord Genuity reaffirmed a “buy” rating and set a $15.50 target price on shares of Cenovus Energy in a report on Monday, October 30th. Scotiabank lowered Cenovus Energy from an “outperform” rating to a “sector perform” rating in a report on Wednesday, November 15th. Zacks Investment Research lowered Cenovus Energy from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Desjardins reissued a “hold” rating on shares of Cenovus Energy in a report on Friday, January 12th. Finally, AltaCorp Capital lowered Cenovus Energy from an “outperform” rating to a “sector perform” rating in a report on Thursday, November 9th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $14.42.
Several hedge funds and other institutional investors have recently modified their holdings of CVE. GSA Capital Partners LLP lifted its position in Cenovus Energy by 175.4% in the 2nd quarter. GSA Capital Partners LLP now owns 37,562 shares of the oil and gas company’s stock worth $277,000 after buying an additional 23,924 shares during the last quarter. Vanguard Group Inc. lifted its position in Cenovus Energy by 15.1% in the 2nd quarter. Vanguard Group Inc. now owns 24,273,550 shares of the oil and gas company’s stock worth $178,896,000 after buying an additional 3,186,725 shares during the last quarter. Virtu KCG Holdings LLC lifted its position in Cenovus Energy by 57.5% in the 2nd quarter. Virtu KCG Holdings LLC now owns 35,775 shares of the oil and gas company’s stock worth $264,000 after buying an additional 13,065 shares during the last quarter. Voya Investment Management LLC lifted its position in Cenovus Energy by 107.8% in the 2nd quarter. Voya Investment Management LLC now owns 182,572 shares of the oil and gas company’s stock worth $1,346,000 after buying an additional 94,725 shares during the last quarter. Finally, Stifel Financial Corp bought a new stake in Cenovus Energy in the 2nd quarter worth approximately $170,000. 73.26% of the stock is owned by institutional investors.
About Cenovus Energy
Cenovus Energy Inc is a Canada-based integrated oil company. It operates in the business of developing, producing and marketing crude oil, Natural Gas Liquids (NGLs) and natural gas in Canada. The Company also conducts marketing activities and owns refining interests in the United States (U.S.). Its segments include: Oil Sands, which includes the development and production of bitumen and natural gas in northeast Alberta; Conventional, which includes the development and production of conventional crude oil, NGLs and natural gas in Alberta and Saskatchewan, including the heavy oil assets at Pelican Lake, the carbon dioxide (CO2) enhanced oil recovery (EOR) project at Weyburn and emerging tight oil opportunities; Refining and Marketing, which includes transporting and selling crude oil and natural gas and joint ownership of refineries in the U.S., as well as Corporate and Eliminations.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cenovus Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cenovus Energy and related companies with MarketBeat.com's FREE daily email newsletter.