Cenovus Energy Inc (CVE) To Go Ex-Dividend on March 13th

Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) declared a quarterly dividend on Thursday, February 19th. Stockholders of record on Friday, March 13th will be paid a dividend of 0.20 per share by the oil and gas company on Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Friday, March 13th.

Cenovus Energy has increased its dividend payment by an average of 0.6%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Cenovus Energy has a dividend payout ratio of 55.2% meaning its dividend is sufficiently covered by earnings. Equities 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 $0.58 annual dividend with an expected future payout ratio of 30.4%.

Cenovus Energy Trading Down 0.8%

Cenovus Energy stock opened at $22.63 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.57 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average price of $20.02 and a two-hundred day moving average price of $18.23. The firm has a market capitalization of $42.55 billion, a price-to-earnings ratio of 14.79 and a beta of 0.43. Cenovus Energy has a 52-week low of $10.23 and a 52-week high of $23.89.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results on Thursday, February 19th. The oil and gas company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.28 by $0.08. Cenovus Energy had a return on equity of 13.25% and a net margin of 7.92%.The firm had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $10.89 billion. During the same period last year, the firm earned $0.07 EPS. Sell-side analysts expect that Cenovus Energy will post 1.49 earnings per share for the current year.

Institutional Trading of Cenovus Energy

Several large investors have recently added to or reduced their stakes in the company. Financial Management Professionals Inc. purchased a new position in shares of Cenovus Energy during the fourth quarter valued at $25,000. Transamerica Financial Advisors LLC lifted its stake in Cenovus Energy by 1,302.7% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,543 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 1,433 shares in the last quarter. NBC Securities Inc. boosted its position in Cenovus Energy by 961.5% during the 4th quarter. NBC Securities Inc. now owns 1,656 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 1,500 shares during the period. Atlantic Union Bankshares Corp purchased a new position in Cenovus Energy during the 2nd quarter valued at about $27,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of Cenovus Energy in the 4th quarter valued at about $38,000. 51.19% of the stock is owned by institutional investors and hedge funds.

About Cenovus Energy

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.