FY2027 EPS Estimates for Cenovus Energy Cut by Raymond James

Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) – Investment analysts at Raymond James lowered their FY2027 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 earn $2.01 per share 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.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Thursday, October 31st. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.08. Cenovus Energy had a return on equity of 12.88% and a net margin of 6.72%. The firm had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $10.25 billion. During the same period last year, the company earned $0.72 EPS. The company’s quarterly revenue was down 17.9% on a year-over-year basis.

Several other analysts also recently weighed in on CVE. StockNews.com downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a report on Thursday, December 5th. BMO Capital Markets cut their price objective on Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, TD Securities cut Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Cenovus Energy presently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Cenovus Energy Price Performance

Shares of CVE opened at $15.25 on Monday. The firm has a 50-day simple moving average of $16.26 and a two-hundred day simple moving average of $17.83. 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 has a 1-year low of $14.69 and a 1-year high of $21.90. The stock has a market cap of $27.85 billion, a PE ratio of 10.52 and a beta of 2.02.

Institutional Investors Weigh In On Cenovus Energy

Hedge funds have recently bought and sold shares of the stock. 1832 Asset Management L.P. grew its position in shares of Cenovus Energy by 81.1% during the second quarter. 1832 Asset Management L.P. now owns 12,538,499 shares of the oil and gas company’s stock worth $246,507,000 after buying an additional 5,613,320 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Cenovus Energy by 32,791.8% during the 2nd quarter. Acadian Asset Management LLC now owns 4,440,391 shares of the oil and gas company’s stock worth $87,246,000 after acquiring an additional 4,426,891 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Cenovus Energy by 2,236.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 4,610,779 shares of the oil and gas company’s stock valued at $90,608,000 after purchasing an additional 4,413,405 shares during the last quarter. Smead Capital Management Inc. raised its holdings in shares of Cenovus Energy by 39.3% in the 3rd quarter. Smead Capital Management Inc. now owns 15,416,146 shares of the oil and gas company’s stock valued at $257,831,000 after purchasing an additional 4,351,960 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Cenovus Energy by 4,319.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,218,376 shares of the oil and gas company’s stock worth $43,609,000 after purchasing an additional 2,168,176 shares during the last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.

Cenovus Energy Increases Dividend

The business 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 $0.133 dividend. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.13. This represents a $0.53 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend is Friday, December 13th. Cenovus Energy’s dividend payout ratio (DPR) is presently 36.55%.

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.