Cenovus Energy FY2024 EPS Forecast Lowered by Raymond James

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) – Investment analysts at Raymond James lowered their FY2024 EPS estimates for shares of Cenovus Energy in a research note issued on Thursday, October 31st. Raymond James analyst M. Barth now expects that the company will post earnings of $2.19 per share for the year, down from their prior forecast of $2.37. The consensus estimate for Cenovus Energy’s current full-year earnings is $2.26 per share. Raymond James also issued estimates for Cenovus Energy’s FY2025 earnings at $2.25 EPS, FY2026 earnings at $2.45 EPS, FY2027 earnings at $2.81 EPS and FY2028 earnings at $3.33 EPS.

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada dropped their target price on shares of Cenovus Energy from C$29.00 to C$28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. TD Securities upgraded shares of Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 3rd. BMO Capital Markets decreased their target price on shares of Cenovus Energy from C$31.00 to C$28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. National Bankshares decreased their target price on shares of Cenovus Energy from C$38.00 to C$31.00 in a research report on Friday, September 27th. Finally, Scotiabank decreased their target price on shares of Cenovus Energy from C$35.00 to C$34.00 in a research report on Friday, July 12th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$31.90.

Cenovus Energy Trading Down 1.0 %

Shares of CVE stock opened at C$22.33 on Monday. The company has a market cap of C$41.53 billion, a price-to-earnings ratio of 8.90, a PEG ratio of 0.09 and a beta of 2.63. The company has a debt-to-equity ratio of 33.34, a current ratio of 1.66 and a quick ratio of 1.00. The firm has a fifty day moving average price of C$23.40 and a 200-day moving average price of C$25.79. Cenovus Energy has a 1 year low of C$19.82 and a 1 year high of C$29.96.

Cenovus Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.18 per share. The ex-dividend date is Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.22%. Cenovus Energy’s dividend payout ratio is presently 28.69%.

Insider Activity at Cenovus Energy

In other news, Senior Officer Jeffery George Lawson bought 4,000 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was bought at an average price of C$22.50 per share, with a total value of C$90,000.00. In other news, Senior Officer Keith Chiasson purchased 25,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of C$23.40 per share, for a total transaction of C$585,000.00. Also, Senior Officer Jeffery George Lawson purchased 4,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were purchased at an average price of C$22.50 per share, for a total transaction of C$90,000.00. Insiders bought 152,700 shares of company stock valued at $3,470,597 over the last 90 days. Insiders own 32.03% of the company’s stock.

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.