Cenovus Energy FY2028 EPS Forecast Lowered by Raymond James

Cenovus Energy Inc. (TSE:CVE) (NYSE:CVE) – Investment analysts at Raymond James dropped their FY2028 earnings per share (EPS) estimates for shares of Cenovus Energy in a research report issued to clients and investors on Thursday, May 8th. Raymond James analyst M. Barth now expects that the company will post earnings per share of $2.72 for the year, down from their previous estimate of $2.93. 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 FY2029 earnings at $2.90 EPS.

A number of other research firms have also recently issued reports on CVE. National Bank Financial cut Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. decreased their price target on shares of Cenovus Energy from C$34.00 to C$32.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. National Bankshares cut shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from C$28.00 to C$25.00 in a research report on Friday, February 21st. Royal Bank of Canada cut their target price on shares of Cenovus Energy from C$28.00 to C$26.00 in a research report on Tuesday, January 14th. Finally, CIBC lowered their price target on shares of Cenovus Energy from C$32.00 to C$28.00 in a report on Thursday, April 10th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Cenovus Energy has a consensus rating of “Moderate Buy” and an average target price of C$28.15.

Cenovus Energy Price Performance

Shares of CVE stock opened at C$18.45 on Monday. The business has a fifty day simple moving average of C$17.74 and a 200 day simple moving average of C$20.28. The company has a market cap of C$33.61 billion, a P/E ratio of 9.09, a P/E/G ratio of 0.09 and a beta of 2.63. The company has a quick ratio of 1.00, a current ratio of 1.59 and a debt-to-equity ratio of 33.59. Cenovus Energy has a twelve month low of C$14.48 and a twelve month high of C$28.82.

Insider Activity at Cenovus Energy

In other news, Senior Officer Jeffery George Lawson acquired 10,000 shares of Cenovus Energy stock in a transaction dated Friday, February 21st. The shares were bought at an average cost of C$21.39 per share, with a total value of C$213,900.00. Also, Senior Officer Karamjit Singh Sandhar acquired 6,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of C$17.97 per share, with a total value of C$107,808.00. Insiders purchased 32,934 shares of company stock worth $637,721 over the last three months. Company insiders own 32.03% of the company’s stock.

Cenovus Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were paid a $0.18 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.72 annualized dividend and a dividend yield of 3.90%. Cenovus Energy’s dividend payout ratio is 35.49%.

Cenovus Energy Company Profile

Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 472 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds 6.7 billion boe of proven and probable reserves.