Cenovus Energy Inc (TSE:CVE) (NYSE:CVE) – Equities research analysts at National Bank Financial upped their FY2019 earnings per share (EPS) estimates for Cenovus Energy in a note issued to investors on Wednesday, May 30th, Zacks Investment Research reports. National Bank Financial analyst T. Wood now anticipates that the company will post earnings per share of $0.54 for the year, up from their previous forecast of $0.51. National Bank Financial has a “Outperform Overweight” rating and a $17.00 price target on the stock.
Several other equities analysts also recently commented on CVE. Canaccord Genuity lowered their price target on Cenovus Energy from C$16.00 to C$14.50 in a report on Wednesday, April 11th. CSFB increased their price target on Cenovus Energy from C$15.00 to C$17.00 in a report on Friday, April 13th. Raymond James upgraded Cenovus Energy from an “underperform” rating to a “market perform” rating and increased their price target for the company from C$10.00 to C$14.00 in a report on Tuesday, April 24th. BMO Capital Markets increased their price target on Cenovus Energy from C$12.00 to C$15.00 and gave the company a “market perform” rating in a report on Thursday, April 26th. Finally, Citigroup increased their price target on Cenovus Energy from C$11.00 to C$15.00 in a report on Wednesday, May 23rd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Cenovus Energy presently has an average rating of “Buy” and an average target price of C$16.21.
Cenovus Energy (TSE:CVE) (NYSE:CVE) last issued its quarterly earnings data on Wednesday, April 25th. The company reported C($0.61) earnings per share for the quarter, missing the consensus estimate of C($0.16) by C($0.45). Cenovus Energy had a negative net margin of 15.99% and a negative return on equity of 16.53%. The business had revenue of C$4.70 billion for the quarter, compared to the consensus estimate of C$4.89 billion.
In related news, insider Alan Craig Reid acquired 4,100 shares of the stock in a transaction dated Friday, June 15th. The shares were acquired at an average price of C$12.21 per share, for a total transaction of C$50,061.00.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 29th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.20 annualized dividend and a dividend yield of 1.65%.
Cenovus Energy Company Profile
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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