Wall Street analysts expect that Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) will post $0.14 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Cenovus Energy’s earnings. The highest EPS estimate is $0.18 and the lowest is $0.08. Cenovus Energy reported earnings per share of $0.18 during the same quarter last year, which would suggest a negative year-over-year growth rate of 22.2%. The company is expected to announce its next earnings report on Thursday, November 1st.

According to Zacks, analysts expect that Cenovus Energy will report full-year earnings of ($0.27) per share for the current financial year, with EPS estimates ranging from ($0.42) to ($0.05). For the next fiscal year, analysts anticipate that the business will post earnings of $0.87 per share, with EPS estimates ranging from $0.57 to $1.47. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Cenovus Energy.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings data on Thursday, July 26th. The oil and gas company reported ($0.19) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.21). Cenovus Energy had a negative net margin of 2.56% and a negative return on equity of 6.66%. The business had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.25 billion. During the same quarter in the prior year, the company earned $0.36 earnings per share.

CVE has been the subject of several recent analyst reports. National Bank Financial raised shares of Cenovus Energy from a “sector perform overweight” rating to an “outperform overweight” rating in a research note on Thursday, May 31st. Raymond James raised shares of Cenovus Energy from an “underperform” rating to a “market perform” rating in a research report on Tuesday, April 24th. ValuEngine raised shares of Cenovus Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 2nd. Morgan Stanley lowered their price objective on shares of Cenovus Energy from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Monday, April 16th. Finally, Macquarie raised shares of Cenovus Energy from an “underperform” rating to a “neutral” rating in a research report on Wednesday, August 1st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. Cenovus Energy currently has a consensus rating of “Hold” and a consensus target price of $14.08.

NYSE:CVE traded down $0.25 during trading hours on Friday, hitting $9.75. The stock had a trading volume of 93,249 shares, compared to its average volume of 2,795,349. Cenovus Energy has a one year low of $7.09 and a one year high of $11.52. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.81 and a current ratio of 1.17. The company has a market capitalization of $12.46 billion, a PE ratio of -493.00 and a beta of 0.66.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be given a $0.038 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Thursday, September 13th. Cenovus Energy’s dividend payout ratio (DPR) is currently -750.00%.

A number of institutional investors have recently added to or reduced their stakes in the stock. Trexquant Investment LP bought a new position in Cenovus Energy in the second quarter valued at $518,000. SG Americas Securities LLC bought a new position in Cenovus Energy in the second quarter valued at $1,894,000. Letko Brosseau & Associates Inc. grew its position in Cenovus Energy by 0.5% in the second quarter. Letko Brosseau & Associates Inc. now owns 39,769,651 shares of the oil and gas company’s stock valued at $412,677,000 after purchasing an additional 194,244 shares in the last quarter. Toronto Dominion Bank grew its position in Cenovus Energy by 101.7% in the second quarter. Toronto Dominion Bank now owns 6,585,468 shares of the oil and gas company’s stock valued at $68,253,000 after purchasing an additional 3,321,205 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Cenovus Energy by 102.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 454,472 shares of the oil and gas company’s stock valued at $4,716,000 after purchasing an additional 230,049 shares in the last quarter. 73.89% of the stock is owned by institutional investors and hedge funds.

About Cenovus Energy

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen and natural gas in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as projects in the early stages of development, such as Telephone Lake.

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

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