Analysts predict that Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) will post $4.10 billion in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Cenovus Energy’s earnings. The lowest sales estimate is $3.86 billion and the highest is $4.35 billion. Cenovus Energy reported sales of $2.48 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 65.3%. The business is scheduled to issue its next earnings report on Thursday, October 26th.

According to Zacks, analysts expect that Cenovus Energy will report full-year sales of $4.10 billion for the current fiscal year, with estimates ranging from $12.16 billion to $15.55 billion. For the next fiscal year, analysts expect that the company will report sales of $15.23 billion per share, with estimates ranging from $13.11 billion to $17.50 billion. Zacks’ sales calculations are an average based on a survey of 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, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.24. Cenovus Energy had a return on equity of 3.20% and a net margin of 17.89%. The firm had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the previous year, the firm posted ($0.05) EPS.

CVE has been the subject of several research analyst reports. BidaskClub downgraded shares of Cenovus Energy from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd. UBS AG downgraded shares of Cenovus Energy from a “market perform” rating to an “underperform” rating in a research report on Wednesday, July 5th. Credit Suisse Group restated an “outperform” rating on shares of Cenovus Energy in a research report on Friday, May 26th. Raymond James Financial, Inc. downgraded shares of Cenovus Energy from a “market perform” rating to an “underperform” rating in a research report on Wednesday, July 5th. Finally, ValuEngine upgraded shares of Cenovus Energy from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $17.34.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FNY Partners Fund LP bought a new stake in Cenovus Energy during the first quarter worth about $113,000. Allegis Investment Advisors LLC bought a new stake in Cenovus Energy during the first quarter worth about $135,000. Neuberger Berman Group LLC raised its stake in Cenovus Energy by 7.4% in the first quarter. Neuberger Berman Group LLC now owns 12,992 shares of the oil and gas company’s stock worth $147,000 after buying an additional 900 shares during the period. Acadian Asset Management LLC raised its stake in Cenovus Energy by 51.6% in the first quarter. Acadian Asset Management LLC now owns 13,800 shares of the oil and gas company’s stock worth $156,000 after buying an additional 4,700 shares during the period. Finally, Cigna Investments Inc. New bought a new stake in Cenovus Energy during the second quarter worth about $110,000. Institutional investors own 56.04% of the company’s stock.

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Cenovus Energy (NYSE:CVE) traded down 1.47% during mid-day trading on Monday, reaching $8.06. 6,099,156 shares of the company’s stock traded hands. The company has a 50-day moving average of $7.54 and a 200-day moving average of $10.52. Cenovus Energy has a 52-week low of $6.76 and a 52-week high of $16.82. The company has a market capitalization of $9.90 billion, a price-to-earnings ratio of 5.25 and a beta of 0.57.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.039 per share. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.16 annualized dividend and a dividend yield of 1.94%. Cenovus Energy’s dividend payout ratio is 8.33%.

Cenovus Energy Company Profile

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

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