Cenovus Energy Inc (NYSE:CVE) Raises Dividend to $0.04 Per Share

Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) declared a quarterly dividend on Wednesday, July 24th, Zacks reports. Investors of record on Friday, September 13th will be paid a dividend of 0.038 per share by the oil and gas company on Monday, September 30th. This represents a $0.15 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Thursday, September 12th. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.04.

Cenovus Energy has decreased its dividend by an average of 39.1% per year over the last three years.

Cenovus Energy stock traded up $0.20 on Tuesday, hitting $9.46. The company’s stock had a trading volume of 68,969 shares, compared to its average volume of 2,997,540. The firm has a market cap of $11.19 billion, a P/E ratio of -5.42, a price-to-earnings-growth ratio of 2.96 and a beta of 0.96. The company has a quick ratio of 0.54, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. The company has a fifty day moving average price of $8.72 and a 200-day moving average price of $8.91. Cenovus Energy has a one year low of $6.15 and a one year high of $10.65.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.07). Cenovus Energy had a negative return on equity of 8.70% and a net margin of 1.25%. The business had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.38 billion. During the same period in the previous year, the business posted ($0.24) earnings per share. Analysts anticipate that Cenovus Energy will post 0.51 EPS for the current year.

Separately, CIBC raised shares of Cenovus Energy from a “neutral” rating to an “outperform” rating in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $13.41.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as other projects in the early stages of development, such as Telephone Lake.

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Dividend History for Cenovus Energy (NYSE:CVE)

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