Cenovus Energy Inc. (NYSE:CVE) Plans Quarterly Dividend of $0.13

Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) announced a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be paid 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 is Friday, March 14th.

Cenovus Energy has increased its dividend payment by an average of 98.1% annually over the last three years. Cenovus Energy has a payout ratio of 28.0% meaning its dividend is sufficiently covered by earnings. 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 Trading Down 4.5 %

Shares of Cenovus Energy stock opened at $14.61 on Friday. The stock has a market cap of $26.64 billion, a PE ratio of 12.07 and a beta of 1.99. The firm has a fifty day moving average price of $14.99 and a 200 day moving average price of $16.30. 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 current ratio of 1.59 and a quick ratio of 0.95.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CVE. Royal Bank of Canada dropped their price objective on shares of Cenovus Energy from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Friday. BMO Capital Markets dropped their price target on shares of Cenovus Energy from $31.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. National Bank Financial downgraded shares of Cenovus Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday. Finally, StockNews.com cut Cenovus Energy from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $29.25.

About Cenovus Energy

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.