Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) announced a quarterly dividend on Thursday, February 14th, Wall Street Journal reports. Stockholders of record on Friday, March 15th will be paid a dividend of 0.0377 per share by the oil and gas company on Friday, March 29th. This represents a $0.15 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Thursday, March 14th.

Cenovus Energy has decreased its dividend by an average of 39.1% per year over the last three years. Cenovus Energy has a dividend payout ratio of -41.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Cenovus Energy to earn $0.46 per share next year, which means the company should continue to be able to cover its $0.15 annual dividend with an expected future payout ratio of 32.6%.

Shares of CVE opened at $8.36 on Friday. Cenovus Energy has a fifty-two week low of $6.15 and a fifty-two week high of $11.47. The stock has a market cap of $10.25 billion, a PE ratio of -4.80, a price-to-earnings-growth ratio of 3.11 and a beta of 0.72. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 0.91.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its earnings results on Wednesday, February 13th. The oil and gas company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.87). Cenovus Energy had a negative return on equity of 15.37% and a negative net margin of 12.41%. The business had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter last year, the company posted ($0.42) EPS. On average, sell-side analysts anticipate that Cenovus Energy will post 0.45 EPS for the current year.

CVE has been the subject of several recent research reports. BMO Capital Markets reiterated an “average” rating and set a $13.50 target price on shares of Cenovus Energy in a research note on Monday, January 7th. Scotiabank upgraded shares of Cenovus Energy from a “sector perform” rating to a “buy” rating in a research note on Tuesday, October 30th. TD Securities upgraded shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research note on Monday, October 22nd. Zacks Investment Research reiterated a “buy” rating and set a $9.25 target price on shares of Cenovus Energy in a research note on Tuesday, November 13th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Cenovus Energy in a research note on Tuesday, December 11th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $12.54.

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About Cenovus Energy

Cenovus Energy, Inc engages in gas and oil provisions. Its activities include development, production, and marketing of crude oil, natural gas liquids, and natural gas in Canada. It operates through four segments: Oil Sands, Deep Basin, Refining & Marketing, and Corporate & Eliminations. The Oil sands segment includes the development and production of bitumen and natural gas in northeast Alberta including Foster Creek, Christina Lake and Narrows Lake as well as projects in the early stages of development, such as Grand Rapids and Telephone Lake.

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Dividend History for Cenovus Energy (NYSE:CVE)

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