Analysts expect that Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) will announce sales of $4.13 billion for the current quarter, Zacks reports. Two analysts have provided estimates for Cenovus Energy’s earnings, with estimates ranging from $4.05 billion to $4.21 billion. Cenovus Energy reported sales of $4.00 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.3%. The company is scheduled to report its next earnings report on Thursday, February 21st.

According to Zacks, analysts expect that Cenovus Energy will report full-year sales of $16.44 billion for the current fiscal year, with estimates ranging from $15.84 billion to $17.03 billion. For the next year, analysts anticipate that the firm will post sales of $16.44 billion, with estimates ranging from $13.37 billion to $18.78 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Cenovus Energy.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results on Wednesday, October 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.32). Cenovus Energy had a negative return on equity of 9.58% and a negative net margin of 3.15%. The firm had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.44 billion.

A number of analysts have recently commented on the company. Canaccord Genuity reiterated a “hold” rating on shares of Cenovus Energy in a research report on Tuesday, October 16th. JPMorgan Chase & Co. upgraded Cenovus Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, September 10th. CIBC assumed coverage on Cenovus Energy in a research report on Friday, October 5th. They issued a “sector outperform” rating on the stock. TheStreet cut Cenovus Energy from a “c-” rating to a “d+” rating in a research report on Tuesday, October 2nd. Finally, Goldman Sachs Group cut Cenovus Energy from a “neutral” rating to a “sell” rating in a research report on Friday, September 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $12.65.

Shares of CVE traded down $0.19 during midday trading on Friday, reaching $8.14. 4,672,004 shares of the stock were exchanged, compared to its average volume of 4,517,090. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.26. Cenovus Energy has a twelve month low of $6.89 and a twelve month high of $11.47. The stock has a market capitalization of $9.07 billion, a P/E ratio of -407.00 and a beta of 0.74.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 14th will be issued a $0.0382 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Thursday, December 13th. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.04. Cenovus Energy’s payout ratio is currently -750.00%.

A number of institutional investors and hedge funds have recently made changes to their positions in CVE. Blume Capital Management Inc. boosted its holdings in Cenovus Energy by 375.5% in the 3rd quarter. Blume Capital Management Inc. now owns 10,181 shares of the oil and gas company’s stock valued at $102,000 after purchasing an additional 8,040 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Cenovus Energy during the 2nd quarter worth approximately $223,000. United Services Automobile Association boosted its stake in shares of Cenovus Energy by 46.5% during the 2nd quarter. United Services Automobile Association now owns 21,948 shares of the oil and gas company’s stock worth $228,000 after acquiring an additional 6,969 shares in the last quarter. Natixis purchased a new stake in shares of Cenovus Energy during the 2nd quarter worth approximately $230,000. Finally, Atlas Capital Advisors LLC purchased a new stake in shares of Cenovus Energy during the 2nd quarter worth approximately $235,000. 75.33% of the stock is currently owned by institutional investors.

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.

Featured Article: What is a Swap?

Get a free copy of the Zacks research report on Cenovus Energy (CVE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Cenovus Energy (NYSE:CVE)

Receive News & Ratings for Cenovus Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cenovus Energy and related companies with MarketBeat.com's FREE daily email newsletter.