Cenovus Energy (NYSE:CVE) Posts Earnings Results, Misses Estimates By $0.27 EPS

Cenovus Energy (NYSE:CVE) (TSE:CVE) announced its quarterly earnings results on Thursday. The oil and gas company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.27), Zacks reports. Cenovus Energy had a net margin of 6.72% and a return on equity of 12.88%.

Cenovus Energy Stock Performance

Shares of CVE traded down $0.58 during trading hours on Thursday, reaching $15.06. 7,237,747 shares of the company traded hands, compared to its average volume of 10,539,780. The stock has a market capitalization of $27.46 billion, a P/E ratio of 10.38 and a beta of 1.99. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. Cenovus Energy has a 12-month low of $13.76 and a 12-month high of $21.90. The business has a fifty day moving average price of $15.00 and a 200-day moving average price of $16.33.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. BMO Capital Markets lowered their price target 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $28.00 price target on shares of Cenovus Energy in a report on Monday, January 6th. Finally, StockNews.com downgraded shares of Cenovus Energy from a “buy” rating to a “hold” rating in a report on Saturday, December 28th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.