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

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

Cenovus Energy Trading Down 1.3 %

NYSE:CVE traded down $0.19 during trading hours on Monday, reaching $14.41. The company's stock had a trading volume of 12,858,052 shares, compared to its average volume of 10,833,408. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59. The firm has a market capitalization of $26.27 billion, a price-to-earnings ratio of 11.90 and a beta of 1.99. The firm has a 50-day simple moving average of $14.99 and a 200-day simple moving average of $16.27. Cenovus Energy has a 1 year low of $13.76 and a 1 year high of $21.90.

Cenovus Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid 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 dividend payout ratio (DPR) is 42.15%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CVE shares. National Bank Financial downgraded Cenovus Energy from an "outperform" rating to a "sector perform" rating in a research report on Friday. Royal Bank of Canada dropped 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 cut their price objective on Cenovus Energy from $31.00 to $28.00 and set an "outperform" rating for the company in a report on Friday, November 1st. Finally, StockNews.com downgraded shares of Cenovus Energy from a "buy" rating to a "hold" rating in a research note on Saturday, December 28th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.