Wall Street brokerages expect that Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) will post $4.15 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Cenovus Energy’s earnings. The highest sales estimate is $4.30 billion and the lowest is $4.00 billion. Cenovus Energy posted sales of $2.73 billion during the same quarter last year, which would suggest a positive year over year growth rate of 52%. The firm is expected to issue its next earnings results on Thursday, February 15th.
According to Zacks, analysts expect that Cenovus Energy will report full year sales of $4.15 billion for the current year, with estimates ranging from $13.40 billion to $15.37 billion. For the next fiscal year, analysts forecast that the business will post sales of $15.41 billion per share, with estimates ranging from $13.63 billion to $17.30 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Cenovus Energy.
A number of equities analysts recently commented on CVE shares. Canaccord Genuity reaffirmed a “buy” rating and issued a $15.50 target price on shares of Cenovus Energy in a report on Monday, October 30th. Zacks Investment Research raised Cenovus Energy from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Thursday, October 19th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $15.00 target price on shares of Cenovus Energy in a report on Monday, October 16th. Morgan Stanley set a $15.00 target price on Cenovus Energy and gave the stock a “buy” rating in a report on Friday, October 13th. Finally, ValuEngine raised Cenovus Energy from a “sell” rating to a “hold” rating in a report on Friday, July 28th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $16.06.
A number of large investors have recently bought and sold shares of CVE. Capstone Asset Management Co. raised its holdings in Cenovus Energy by 1.6% during the second quarter. Capstone Asset Management Co. now owns 87,709 shares of the oil and gas company’s stock valued at $646,000 after acquiring an additional 1,350 shares during the period. Gateway Investment Advisers LLC grew its position in shares of Cenovus Energy by 0.5% during 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 purchasing an additional 376 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Cenovus Energy by 759.4% during the second quarter. Acadian Asset Management LLC now owns 118,600 shares of the oil and gas company’s stock valued at $873,000 after purchasing an additional 104,800 shares in the last quarter. Lincluden Management Ltd. grew its position in shares of Cenovus Energy by 106,932.2% during the second quarter. Lincluden Management Ltd. now owns 5,122,563 shares of the oil and gas company’s stock valued at $38,891,000 after purchasing an additional 5,117,777 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Cenovus Energy during the second quarter valued at about $386,000. 55.86% of the stock is currently owned by institutional investors and hedge funds.
Cenovus Energy (NYSE CVE) opened at $9.76 on Tuesday. Cenovus Energy has a twelve month low of $6.76 and a twelve month high of $16.82. The company has a market capitalization of $11,990.00, a price-to-earnings ratio of 14.51, a P/E/G ratio of 2.98 and a beta of 0.63. The company has a quick ratio of 1.10, a current ratio of 1.41 and a debt-to-equity ratio of 0.62.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.039 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.16 dividend on an annualized basis and a yield of 1.60%. Cenovus Energy’s dividend payout ratio is presently 7.14%.
Cenovus Energy Company Profile
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