FY2027 EPS Estimates for Cenovus Energy Cut by Raymond James

Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) – Analysts at Raymond James cut their FY2027 earnings per share (EPS) estimates for shares of Cenovus Energy in a research note issued on Thursday, December 12th. Raymond James analyst M. Barth now expects that the oil and gas company will post earnings per share of $2.01 for the year, down from their previous forecast of $2.02. The consensus estimate for Cenovus Energy’s current full-year earnings is $1.48 per share. Raymond James also issued estimates for Cenovus Energy’s FY2028 earnings at $2.39 EPS.

A number of other research firms have also weighed in on CVE. TD Securities lowered Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. BMO Capital Markets reduced their price target on shares of Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, StockNews.com lowered shares of Cenovus Energy from a “buy” rating to a “hold” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Cenovus Energy currently has a consensus rating of “Moderate Buy” and an average price target of $30.00.

Cenovus Energy Stock Down 2.5 %

Shares of NYSE:CVE opened at $14.87 on Monday. The firm has a market capitalization of $27.16 billion, a PE ratio of 10.26 and a beta of 2.02. The business has a 50 day simple moving average of $16.19 and a two-hundred day simple moving average of $17.79. Cenovus Energy has a 1 year low of $14.69 and a 1 year high of $21.90. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 0.95.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its earnings results on Thursday, October 31st. The oil and gas company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.08. Cenovus Energy had a net margin of 6.72% and a return on equity of 12.88%. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $10.25 billion. During the same quarter in the prior year, the firm posted $0.72 earnings per share. The business’s revenue for the quarter was down 17.9% on a year-over-year basis.

Cenovus Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.133 dividend. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.13. This represents a $0.53 dividend on an annualized basis and a yield of 3.58%. Cenovus Energy’s dividend payout ratio is 36.55%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVE. Truvestments Capital LLC purchased a new stake in shares of Cenovus Energy in the 3rd quarter worth approximately $25,000. Blue Trust Inc. raised its stake in Cenovus Energy by 640.3% in the third quarter. Blue Trust Inc. now owns 3,065 shares of the oil and gas company’s stock worth $51,000 after buying an additional 2,651 shares in the last quarter. SevenBridge Financial Group LLC purchased a new stake in Cenovus Energy during the third quarter worth $162,000. Northwestern Mutual Wealth Management Co. boosted its position in Cenovus Energy by 8.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,648 shares of the oil and gas company’s stock valued at $170,000 after acquiring an additional 643 shares in the last quarter. Finally, FCG Investment Co purchased a new position in shares of Cenovus Energy in the 3rd quarter valued at $211,000. 51.19% of the stock is currently owned by institutional investors.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.