Cenovus Energy (TSE:CVE) (NYSE:CVE) released its quarterly earnings results on Wednesday. The company reported C($0.74) EPS for the quarter, missing the consensus estimate of C($0.11) by C($0.63), RTT News reports. Cenovus Energy had a negative return on equity of 16.53% and a negative net margin of 15.99%.
Shares of TSE CVE traded up C$0.66 during mid-day trading on Wednesday, hitting C$12.85. The company had a trading volume of 11,596,428 shares, compared to its average volume of 4,764,601. Cenovus Energy has a 1-year low of C$8.89 and a 1-year high of C$14.65.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Wednesday, March 14th.
Several research analysts have recently commented on the company. Raymond James upgraded Cenovus Energy from an “underperform” rating to a “market perform” rating and raised their price target for the stock from C$10.00 to C$14.00 in a research report on Tuesday. CSFB raised their price target on Cenovus Energy from C$15.00 to C$17.00 in a research report on Friday, April 13th. Canaccord Genuity reduced their price objective on Cenovus Energy from C$16.00 to C$14.50 in a research note on Wednesday, April 11th. National Bank Financial reduced their price objective on Cenovus Energy from C$13.50 to C$12.50 and set a “sector perform” rating on the stock in a research note on Friday, March 23rd. Finally, AltaCorp Capital upgraded Cenovus Energy from a “sector perform” rating to an “outperform” rating in a research note on Friday, February 16th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of C$15.43.
In related news, insider Keith Chiasson acquired 2,635 shares of Cenovus Energy stock in a transaction dated Monday, March 5th. The shares were acquired at an average cost of C$9.60 per share, for a total transaction of C$25,296.00.
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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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