Cenovus Energy (NYSE:CVE) Announces Quarterly Earnings Results

Cenovus Energy (NYSE:CVE) (TSE:CVE) posted its earnings results on Thursday. 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), Zacks reports. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $11.08 billion. Cenovus Energy had a net margin of 6.72% and a return on equity of 12.88%.

Cenovus Energy Trading Down 3.8 %

Cenovus Energy stock traded down $0.59 during midday trading on Friday, reaching $14.71. 2,920,116 shares of the stock traded hands, compared to its average volume of 10,455,688. The company has a 50-day simple moving average of $15.00 and a two-hundred day simple moving average of $16.32. Cenovus Energy has a 12-month low of $13.76 and a 12-month high of $21.90. The firm has a market cap of $26.82 billion, a PE ratio of 10.14 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.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CVE shares. StockNews.com cut shares of Cenovus Energy from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. BMO Capital Markets lowered their price target 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. National Bank Financial downgraded Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $28.00 price target on shares of Cenovus Energy in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

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.