Cenovus Energy Inc (NYSE:CVE) Expected to Post Q2 2018 Earnings of $0.09 Per Share

Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) – Stock analysts at Cormark issued their Q2 2018 earnings per share (EPS) estimates for shares of Cenovus Energy in a research report issued to clients and investors on Friday. Cormark analyst A. Arif forecasts that the oil and gas company will earn $0.09 per share for the quarter. Cormark also issued estimates for Cenovus Energy’s Q3 2018 earnings at $0.10 EPS and FY2019 earnings at $0.58 EPS.

A number of other research analysts have also recently commented on CVE. Canaccord Genuity restated a “hold” rating and issued a $16.50 price target on shares of Cenovus Energy in a research report on Wednesday, April 26th. Zacks Investment Research cut Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Monday, May 1st. Credit Suisse Group restated an “outperform” rating on shares of Cenovus Energy in a research report on Friday, May 26th. ValuEngine cut Cenovus Energy from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Finally, BidaskClub upgraded Cenovus Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $17.34.

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Cenovus Energy (NYSE CVE) traded down 2.97% during midday trading on Monday, hitting $8.16. 4,263,901 shares of the stock traded hands. The firm’s 50 day moving average is $7.55 and its 200-day moving average is $10.57. Cenovus Energy has a 12-month low of $6.76 and a 12-month high of $16.82. The stock has a market capitalization of $10.03 billion, a PE ratio of 3.45 and a beta of 0.55.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results on Thursday, July 27th. The oil and gas company reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.24. Cenovus Energy had a net margin of 17.89% and a return on equity of 3.20%. The business had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same quarter in the prior year, the firm earned ($0.05) EPS.

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 issued a dividend of $0.039 per share. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Thursday, September 14th. Cenovus Energy’s payout ratio is 8.33%.

Hedge funds have recently added to or reduced their stakes in the company. FNY Partners Fund LP purchased a new stake in Cenovus Energy during the first quarter valued at $113,000. Allegis Investment Advisors LLC bought a new position in Cenovus Energy during the first quarter worth approximately $135,000. Neuberger Berman Group LLC raised its position 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 in the last quarter. Acadian Asset Management LLC raised its position 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 in the last quarter. Finally, Two Sigma Securities LLC bought a new position in Cenovus Energy during the first quarter worth approximately $182,000. Institutional investors own 56.04% of the company’s stock.

Cenovus Energy Company Profile

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

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