Cenovus Energy (NYSE:CVE) Announces Quarterly Earnings Results, Misses Expectations By $0.27 EPS

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE issued its quarterly earnings data on Thursday. The oil and gas company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.27), Zacks reports. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. The business had revenue of $8.40 billion during the quarter, compared to analyst estimates of $11.08 billion.

Cenovus Energy Stock Performance

Shares of CVE traded down $0.19 during trading hours on Monday, hitting $14.41. The company had a trading volume of 12,614,880 shares, compared to its average volume of 10,810,155. Cenovus Energy has a 12 month low of $13.76 and a 12 month high of $21.90. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The firm has a market cap of $26.27 billion, a price-to-earnings ratio of 11.90 and a beta of 1.99. The business has a fifty day moving average of $14.99 and a 200-day moving average of $16.27.

Cenovus Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.1269 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 3.52%. Cenovus Energy's payout ratio is 42.15%.

Wall Street Analysts Forecast Growth

CVE has been the subject of a number of research reports. Royal Bank of Canada lowered their price target on Cenovus Energy from $26.00 to $25.00 and set an "outperform" rating for the company in a research report on Friday. BMO Capital Markets decreased their target price on Cenovus Energy from $31.00 to $28.00 and set an "outperform" rating for the company in a research report on Friday, November 1st. StockNews.com lowered Cenovus Energy from a "buy" rating to a "hold" rating in a report on Saturday, December 28th. Finally, National Bank Financial downgraded shares of Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Cenovus Energy has a consensus rating of "Moderate Buy" and a consensus price target of $29.25.

About Cenovus Energy

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.