FY2028 EPS Estimates for Cenovus Energy Cut by Raymond James

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) – Equities researchers at Raymond James cut their FY2028 earnings per share estimates for shares of Cenovus Energy in a research note issued to investors on Thursday, May 8th. Raymond James analyst M. Barth now expects that the company will post earnings of $2.72 per share for the year, down from their previous estimate of $2.93. The consensus estimate for Cenovus Energy’s current full-year earnings is $2.26 per share. Raymond James also issued estimates for Cenovus Energy’s FY2029 earnings at $2.90 EPS.

A number of other research firms also recently commented on CVE. Desjardins reduced their price objective on shares of Cenovus Energy from C$24.50 to C$22.50 and set a “buy” rating for the company in a research note on Tuesday, April 15th. National Bank Financial lowered Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 20th. TD Securities increased their price objective on Cenovus Energy from C$25.00 to C$26.00 and gave the company a “buy” rating in a report on Friday. JPMorgan Chase & Co. decreased their target price on shares of Cenovus Energy from C$34.00 to C$32.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Finally, Royal Bank of Canada dropped their price target on shares of Cenovus Energy from C$28.00 to C$26.00 in a research report on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Cenovus Energy presently has an average rating of “Moderate Buy” and a consensus price target of C$28.15.

Cenovus Energy Stock Performance

Shares of CVE opened at C$18.45 on Monday. The stock has a market capitalization of C$33.61 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 0.09 and a beta of 2.63. Cenovus Energy has a 12 month low of C$14.48 and a 12 month high of C$28.82. The firm has a fifty day simple moving average of C$17.74 and a 200 day simple moving average of C$20.28. The company has a current ratio of 1.59, a quick ratio of 1.00 and a debt-to-equity ratio of 33.59.

Insiders Place Their Bets

In related news, Senior Officer Jeffery George Lawson purchased 10,000 shares of Cenovus Energy stock in a transaction that occurred on Friday, February 21st. The shares were acquired at an average price of C$21.39 per share, with a total value of C$213,900.00. Also, Senior Officer John F. Soini acquired 4,104 shares of the stock in a transaction on Tuesday, March 18th. The shares were bought at an average price of C$19.48 per share, for a total transaction of C$79,945.92. Insiders purchased 32,934 shares of company stock worth $637,721 over the last three months. Insiders own 32.03% of the company’s stock.

Cenovus Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were issued a $0.18 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.72 annualized dividend and a yield of 3.90%. Cenovus Energy’s dividend payout ratio is currently 35.49%.

Cenovus Energy Company Profile

Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 472 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds 6.7 billion boe of proven and probable reserves.