Cenovus Energy Inc (CVE) to Issue Quarterly Dividend of $0.05
Cenovus Energy Inc (TSE:CVE) (NYSE:CVE) declared a quarterly dividend on Tuesday, October 30th, Zacks reports. Shareholders of record on Friday, December 14th will be paid a dividend of 0.05 per share on Monday, December 31st. This represents a $0.20 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, December 13th.
CVE stock traded down C$0.07 during trading on Friday, reaching C$10.16. 6,116,800 shares of the company’s stock were exchanged, compared to its average volume of 4,576,986. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 52.75. Cenovus Energy has a 1-year low of C$9.02 and a 1-year high of C$14.84.
Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings results on Wednesday, October 31st. The company reported C($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.22 by C($0.42). The business had revenue of C$6.14 billion during the quarter, compared to the consensus estimate of C$5.77 billion. As a group, research analysts predict that Cenovus Energy will post 0.879999954243271 earnings per share for the current year.
A number of brokerages have issued reports on CVE. CIBC reduced their price target on Cenovus Energy from C$17.00 to C$14.50 in a research report on Thursday, November 22nd. Canaccord Genuity dropped their price objective on Cenovus Energy from C$13.50 to C$12.50 in a research note on Tuesday, November 20th. Morgan Stanley dropped their price objective on Cenovus Energy from C$17.00 to C$15.00 in a research note on Tuesday, November 20th. Raymond James reissued a “market perform” rating and issued a C$17.00 price objective on shares of Cenovus Energy in a research note on Thursday, November 1st. Finally, TD Securities boosted their price objective on Cenovus Energy from C$14.00 to C$15.00 and gave the stock a “buy” rating in a research note on Thursday, November 1st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Cenovus Energy currently has an average rating of “Buy” and an average price target of C$16.17.
About Cenovus Energy
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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