Jefferies Financial Group Comments on Cenovus Energy Inc.’s Q4 2022 Earnings (TSE:CVE)

Cenovus Energy Inc. (TSE:CVE – Get Rating) (NYSE:CVE) – Stock analysts at Jefferies Financial Group reduced their Q4 2022 earnings per share estimates for Cenovus Energy in a research report issued on Tuesday, January 17th. Jefferies Financial Group analyst L. Byrne now anticipates that the company will post earnings per share of $0.90 for the quarter, down from their previous estimate of $1.00. Jefferies Financial Group has a “Buy” rating and a $35.00 price target on the stock. The consensus estimate for Cenovus Energy’s current full-year earnings is $4.02 per share. Jefferies Financial Group also issued estimates for Cenovus Energy’s FY2023 earnings at $3.71 EPS and FY2024 earnings at $3.65 EPS.

Cenovus Energy (TSE:CVE – Get Rating) (NYSE:CVE) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported C$0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.07 by C($0.26). The company had revenue of C$17.47 billion during the quarter, compared to analysts’ expectations of C$14.34 billion.

A number of other equities research analysts have also weighed in on CVE. Credit Suisse Group raised shares of Cenovus Energy to an “outperform” rating and set a C$35.00 price objective on the stock in a report on Monday, November 21st. Scotiabank reduced their price target on shares of Cenovus Energy from C$34.00 to C$33.00 in a research report on Thursday, October 13th. National Bankshares cut their price objective on shares of Cenovus Energy from C$38.00 to C$36.00 in a report on Friday, September 30th. Royal Bank of Canada raised their price target on shares of Cenovus Energy from C$31.00 to C$32.00 and gave the stock an “outperform” rating in a report on Thursday, November 3rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Cenovus Energy from C$36.00 to C$34.00 in a research report on Tuesday. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, Cenovus Energy presently has an average rating of “Buy” and a consensus target price of C$31.07.

Cenovus Energy Stock Performance

Shares of CVE stock opened at C$25.47 on Friday. The business’s fifty day simple moving average is C$25.89 and its 200-day simple moving average is C$24.72. The company has a market cap of C$48.87 billion and a PE ratio of 9.76. The company has a current ratio of 1.55, a quick ratio of 1.00 and a debt-to-equity ratio of 41.92. Cenovus Energy has a 12-month low of C$16.52 and a 12-month high of C$31.19.

Cenovus Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Friday, December 30th were given a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Wednesday, December 14th. Cenovus Energy’s dividend payout ratio (DPR) is 10.73%.

Cenovus Energy Company Profile

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Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada, the United States, and the Asia Pacific region. The company operates through Oil Sands, Conventional, Offshore, Canadian Manufacturing, U.S. Manufacturing, and Retail segments.