Cenovus Energy Inc. (NYSE:CVE) Plans Quarterly Dividend of $0.13

Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) declared a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Stockholders of record on Friday, March 14th will be given a dividend of 0.1269 per share by the oil and gas company on Monday, March 31st. This represents a $0.51 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Friday, March 14th.

Cenovus Energy has increased its dividend payment by an average of 98.1% per year over the last three years. Cenovus Energy has a dividend payout ratio of 28.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Cenovus Energy to earn $1.91 per share next year, which means the company should continue to be able to cover its $0.51 annual dividend with an expected future payout ratio of 26.7%.

Cenovus Energy Price Performance

CVE stock opened at $14.61 on Friday. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. Cenovus Energy has a one year low of $13.76 and a one year high of $21.90. The firm has a market capitalization of $26.64 billion, a PE ratio of 12.07 and a beta of 1.99. The firm has a 50-day moving average of $14.99 and a two-hundred day moving average of $16.29.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Thursday, February 20th. The oil and gas company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.27). The firm had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $11.08 billion. Cenovus Energy had a net margin of 5.82% and a return on equity of 10.73%. On average, analysts forecast that Cenovus Energy will post 1.49 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CVE. Royal Bank of Canada cut their price objective on shares of Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Friday. National Bank Financial downgraded shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday. BMO Capital Markets reduced 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. Finally, StockNews.com cut Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cenovus Energy presently has a consensus 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.