Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) – Research analysts at Cormark cut their Q3 2017 earnings estimates for shares of Cenovus Energy in a note issued to investors on Wednesday. Cormark analyst A. Arif now expects that the oil and gas company will post earnings per share of $0.04 for the quarter, down from their prior estimate of $0.07. Cormark also issued estimates for Cenovus Energy’s Q4 2017 earnings at $0.06 EPS, Q1 2018 earnings at $0.05 EPS, Q2 2018 earnings at $0.05 EPS, Q3 2018 earnings at $0.06 EPS and Q4 2018 earnings at $0.06 EPS.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.24. The firm 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 quarter in the prior year, the business earned ($0.05) EPS.

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Several other analysts have also weighed in on CVE. Credit Suisse Group reiterated an “outperform” rating on shares of Cenovus Energy in a research note on Friday, May 26th. ValuEngine lowered shares of Cenovus Energy from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. BidaskClub upgraded shares of Cenovus Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Macquarie lowered shares of Cenovus Energy from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 21st. Finally, Canaccord Genuity upgraded shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $17.04.

Shares of Cenovus Energy (NYSE:CVE) opened at 8.12 on Thursday. The firm has a market cap of $9.98 billion, a PE ratio of 3.46 and a beta of 0.56. Cenovus Energy has a 52 week low of $6.76 and a 52 week high of $16.82. The company’s 50-day moving average is $7.89 and its 200-day moving average is $9.43.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.039 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.16 annualized dividend and a dividend yield of 1.92%. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.04. Cenovus Energy’s dividend payout ratio is currently 8.33%.

Several institutional investors have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd grew its position in shares of Cenovus Energy by 12.1% during the second quarter. Dynamic Technology Lab Private Ltd now owns 28,063 shares of the oil and gas company’s stock worth $207,000 after acquiring an additional 3,021 shares during the last quarter. Koch Industries Inc. bought a new position in shares of Cenovus Energy during the second quarter worth about $172,000. Verition Fund Management LLC grew its position in shares of Cenovus Energy by 22.7% during the second quarter. Verition Fund Management LLC now owns 22,856 shares of the oil and gas company’s stock worth $168,000 after acquiring an additional 4,233 shares during the last quarter. Scotia Capital Inc. grew its position in shares of Cenovus Energy by 37.9% during the second quarter. Scotia Capital Inc. now owns 2,783,442 shares of the oil and gas company’s stock worth $20,499,000 after acquiring an additional 764,869 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of Cenovus Energy by 77.6% during the second quarter. Tower Research Capital LLC TRC now owns 65,085 shares of the oil and gas company’s stock worth $623,000 after acquiring an additional 28,440 shares during the last quarter. Institutional investors and hedge funds own 56.17% of the company’s stock.

About Cenovus Energy

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

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