Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) – Equities research analysts at Cormark lowered their Q3 2017 earnings per share (EPS) estimates for Cenovus Energy in a research note issued to investors on Wednesday. Cormark analyst A. Arif now anticipates that the oil and gas company will post earnings of $0.04 per share for the quarter, down from their prior forecast of $0.07. Cormark also issued estimates for Cenovus Energy’s Q4 2017 earnings at $0.06 EPS, Q1 2018 earnings at $0.05 EPS, Q2 2018 earnings at $0.05 EPS, Q3 2018 earnings at $0.06 EPS and Q4 2018 earnings at $0.06 EPS.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results on Thursday, July 27th. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.24. The firm had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.40 billion. Cenovus Energy had a net margin of 17.89% and a return on equity of 3.20%. During the same quarter in the prior year, the company earned ($0.05) EPS. TRADEMARK VIOLATION WARNING: “Cenovus Energy Inc Forecasted to Post Q3 2017 Earnings of $0.04 Per Share (CVE)” was first published by Watch List News and is the property of of Watch List News. If you are accessing this article on another domain, it was illegally copied and republished in violation of United States & international copyright and trademark legislation. The correct version of this article can be read at https://www.watchlistnews.com/cenovus-energy-inc-forecasted-to-post-q3-2017-earnings-of-0-04-per-share-cve/1547377.html.

Several other equities research analysts have also issued reports on the company. Canaccord Genuity reiterated a “buy” rating and set a $14.00 price target on shares of Cenovus Energy in a report on Tuesday. BidaskClub lowered Cenovus Energy from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. ValuEngine upgraded Cenovus Energy from a “sell” rating to a “hold” rating in a report on Friday, July 28th. Zacks Investment Research lowered Cenovus Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 26th. Finally, Morgan Stanley lowered Cenovus Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, July 19th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $17.04.

Shares of Cenovus Energy (NYSE CVE) opened at 8.40 on Thursday. Cenovus Energy has a 52-week low of $6.76 and a 52-week high of $16.82. The firm has a market cap of $10.32 billion, a P/E ratio of 3.58 and a beta of 0.56. The company’s 50-day moving average is $7.88 and its 200-day moving average is $9.44.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC lifted its holdings in Cenovus Energy by 23.7% in the 2nd quarter. FMR LLC now owns 54,026,588 shares of the oil and gas company’s stock worth $398,284,000 after purchasing an additional 10,341,993 shares during the last quarter. TD Asset Management Inc. lifted its holdings in Cenovus Energy by 5.3% in the 2nd quarter. TD Asset Management Inc. now owns 43,148,765 shares of the oil and gas company’s stock worth $317,627,000 after purchasing an additional 2,169,650 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in Cenovus Energy by 1.4% in the 2nd quarter. First Eagle Investment Management LLC now owns 32,113,640 shares of the oil and gas company’s stock worth $236,678,000 after purchasing an additional 437,897 shares during the last quarter. Letko Brosseau & Associates Inc. lifted its holdings in Cenovus Energy by 37.1% in the 2nd quarter. Letko Brosseau & Associates Inc. now owns 27,158,632 shares of the oil and gas company’s stock worth $199,920,000 after purchasing an additional 7,354,590 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Cenovus Energy by 15.1% in the 2nd quarter. Vanguard Group Inc. now owns 24,273,550 shares of the oil and gas company’s stock worth $178,896,000 after purchasing an additional 3,186,725 shares during the last quarter. Hedge funds and other institutional investors own 56.17% of the company’s stock.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.039 dividend. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a yield of 1.86%. The ex-dividend date is Thursday, September 14th. Cenovus Energy’s payout ratio is 8.33%.

About Cenovus Energy

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

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