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 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Friday, March 14th.

Cenovus Energy has raised its dividend payment by an average of 98.1% annually over the last three years. Cenovus Energy has a payout ratio of 28.0% indicating that 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

Cenovus Energy stock opened at $14.61 on Friday. The company’s 50 day simple moving average is $14.99 and its 200-day simple moving average is $16.29. The company has a market capitalization of $26.64 billion, a price-to-earnings ratio of 12.07 and a beta of 1.99. Cenovus Energy has a 1 year low of $13.76 and a 1 year high of $21.90. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.59.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its earnings results on Thursday, February 20th. The oil and gas company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.27). Cenovus Energy had a return on equity of 10.73% and a net margin of 5.82%. The business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $11.08 billion. As a group, equities research analysts expect that Cenovus Energy will post 1.49 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CVE. National Bank Financial cut shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday. Royal Bank of Canada cut their price target on shares of Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Friday. StockNews.com downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a report on Saturday, December 28th. Finally, BMO Capital Markets dropped their target price on shares of Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cenovus Energy currently 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.