Cenovus Energy Inc. (CVE) To Go Ex-Dividend on May 16th

Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) declared a monthly dividend on Thursday, May 2nd, Wall Street Journal reports. Stockholders of record on Friday, May 17th will be paid a dividend of 0.0981 per share by the oil and gas company on Friday, May 31st. This represents a $1.18 dividend on an annualized basis and a dividend yield of 5.74%. The ex-dividend date of this dividend is Thursday, May 16th.

Cenovus Energy has increased its dividend by an average of 103.3% per year over the last three years and has increased its dividend every year for the last 2 years. Cenovus Energy has a dividend payout ratio of 17.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cenovus Energy to earn $2.27 per share next year, which means the company should continue to be able to cover its $0.41 annual dividend with an expected future payout ratio of 18.1%.

Cenovus Energy Stock Performance

Shares of NYSE:CVE opened at $20.49 on Friday. The firm has a market cap of $38.22 billion, a PE ratio of 11.38 and a beta of 2.10. The firm’s 50 day simple moving average is $19.74 and its 200-day simple moving average is $18.07. Cenovus Energy has a one year low of $14.69 and a one year high of $21.90. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.91 and a current ratio of 1.56.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its earnings results on Thursday, February 15th. The oil and gas company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The business had revenue of $9.65 billion for the quarter, compared to analyst estimates of $9.73 billion. Cenovus Energy had a net margin of 8.73% and a return on equity of 16.73%. During the same period last year, the company posted $0.29 earnings per share. As a group, equities analysts predict that Cenovus Energy will post 1.88 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of Cenovus Energy from a “buy” rating to a “strong-buy” rating in a research report on Friday. Royal Bank of Canada reiterated an “outperform” rating and set a $28.00 price objective on shares of Cenovus Energy in a research note on Friday, January 26th. UBS Group upgraded shares of Cenovus Energy from a “neutral” rating to a “buy” rating in a research note on Friday, February 23rd. Finally, Morgan Stanley increased their price objective on shares of Cenovus Energy from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Cenovus Energy currently has a consensus rating of “Buy” and an average target price of $26.67.

About Cenovus Energy

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.