Cenovus Energy (NYSE:CVE) Issues Quarterly Earnings Results, Misses Estimates By $0.27 EPS

Cenovus Energy (NYSE:CVE) (TSE:CVE) announced its quarterly earnings results on Thursday. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.27), Zacks reports. Cenovus Energy had a net margin of 6.72% and a return on equity of 12.88%.

Cenovus Energy Price Performance

Shares of NYSE CVE traded down $0.63 during trading on Thursday, reaching $15.01. The company had a trading volume of 6,686,979 shares, compared to its average volume of 10,518,489. Cenovus Energy has a 52 week low of $13.76 and a 52 week high of $21.90. The stock has a market cap of $27.37 billion, a PE ratio of 10.36 and a beta of 1.99. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59. The business’s 50 day moving average price is $15.00 and its 200-day moving average price is $16.33.

Analysts Set New Price Targets

CVE has been the subject of several analyst reports. StockNews.com downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a report on Saturday, December 28th. BMO Capital Markets cut their price target on shares of Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $28.00 price target on shares of Cenovus Energy in a report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Cenovus Energy presently has an average rating of “Moderate Buy” and a consensus price target of $30.00.

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.