Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) declared a quarterly dividend on Friday, April 27th, Wall Street Journal reports. Investors of record on Friday, June 15th will be paid a dividend of 0.0389 per share by the oil and gas company on Friday, June 29th. This represents a $0.16 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Thursday, June 14th.
Cenovus Energy has decreased its dividend by an average of 46.3% per year over the last three years. Cenovus Energy has a payout ratio of 27.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Cenovus Energy to earn $0.77 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 20.8%.
Shares of Cenovus Energy opened at $9.81 on Wednesday, according to MarketBeat.com. The stock has a market capitalization of $12.18 billion, a P/E ratio of -490.50 and a beta of 0.71. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.12 and a quick ratio of 0.72. Cenovus Energy has a 52-week low of $6.76 and a 52-week high of $11.52.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Wednesday, April 25th. The oil and gas company reported ($0.48) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.35). Cenovus Energy had a net margin of 13.13% and a negative return on equity of 3.24%. The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter last year, the business posted ($0.05) EPS. equities research analysts expect that Cenovus Energy will post -0.16 EPS for the current fiscal year.
Several research firms have recently weighed in on CVE. Zacks Investment Research lowered shares of Cenovus Energy from a “hold” rating to a “sell” rating in a research report on Monday, March 5th. ValuEngine lowered shares of Cenovus Energy from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 1st. Tudor Pickering upgraded shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, March 28th. National Bank Financial upgraded shares of Cenovus Energy from a “sector perform overweight” rating to an “outperform overweight” rating in a research report on Thursday, May 31st. Finally, Bank of America began coverage on shares of Cenovus Energy in a research report on Thursday, April 5th. They set a “neutral” rating and a $9.00 price objective for the company. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. Cenovus Energy currently has a consensus rating of “Hold” and an average price target of $14.31.
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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