Cenovus Energy Inc. (CVE) To Go Ex-Dividend on March 14th

Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) declared a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend is Friday, March 14th.

Cenovus Energy has increased its dividend by an average of 98.1% per year over the last three years. Cenovus Energy has a dividend payout ratio of 28.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cenovus Energy to earn $1.91 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 26.2%.

Cenovus Energy Stock Performance

NYSE:CVE opened at $12.99 on Wednesday. The stock has a market capitalization of $23.68 billion, a P/E ratio of 10.73 and a beta of 1.99. 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 1 year low of $12.07 and a 1 year high of $21.90. The firm has a 50 day moving average of $14.63 and a 200-day moving average of $15.78.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.27). The business 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%. As a group, sell-side analysts anticipate that Cenovus Energy will post 1.49 EPS for the current fiscal year.

Analysts Set New Price Targets

CVE has been the topic of a number of research reports. StockNews.com lowered shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. National Bank Financial downgraded Cenovus Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, February 21st. Finally, Royal Bank of Canada decreased their price objective on Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $29.25.

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.