Cenovus Energy Inc (TSE:CVE) (NYSE:CVE) – Equities researchers at National Bank Financial issued their FY2019 earnings per share estimates for Cenovus Energy in a note issued to investors on Thursday. National Bank Financial analyst T. Wood expects that the company will post earnings per share of $0.33 for the year. National Bank Financial has a “Sector Perform” rating and a $13.50 price objective on the stock.
A number of other research analysts also recently weighed in on the company. Scotiabank downgraded Cenovus Energy from an “outperform” rating to a “sector perform” rating and set a C$14.00 price target for the company. in a research note on Wednesday, November 15th. AltaCorp Capital downgraded Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Thursday, November 9th. Citigroup raised their price target on Cenovus Energy from C$10.00 to C$13.00 in a research note on Monday, December 11th. CIBC raised their price target on Cenovus Energy from C$14.50 to C$16.00 in a research note on Tuesday, November 14th. Finally, Eight Capital set a C$15.00 price target on Cenovus Energy and gave the company a “neutral” rating in a research note on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. Cenovus Energy currently has a consensus rating of “Hold” and a consensus target price of C$15.23.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.20 annualized dividend and a yield of 2.12%. Cenovus Energy’s dividend payout ratio (DPR) is presently 9.57%.
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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.
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