Cenovus Energy Inc (CVE) To Go Ex-Dividend on June 15th

Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) announced a quarterly dividend on Wednesday, May 6th. Stockholders of record on Monday, June 15th will be given a dividend of 0.22 per share by the oil and gas company on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, June 15th. This is a 10.0% increase from Cenovus Energy’s previous quarterly dividend of $0.20.

Cenovus Energy has raised its dividend payment by an average of 0.6%annually over the last three years and has raised its dividend every year for the last 4 years. Cenovus Energy has a dividend payout ratio of 55.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cenovus Energy to earn $2.06 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 28.2%.

Cenovus Energy Price Performance

CVE stock opened at $28.48 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.04 and a current ratio of 1.57. Cenovus Energy has a 1 year low of $11.96 and a 1 year high of $30.84. The firm has a market cap of $53.39 billion, a P/E ratio of 15.65 and a beta of 0.37. The stock has a 50-day simple moving average of $25.34 and a 200-day simple moving average of $20.75.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results on Wednesday, May 6th. The oil and gas company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. Cenovus Energy had a return on equity of 15.70% and a net margin of 9.53%.The business had revenue of $10.79 billion during the quarter, compared to analyst estimates of $9.47 billion. During the same quarter last year, the firm earned $0.47 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities analysts predict that Cenovus Energy will post 2.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its holdings in shares of Cenovus Energy by 574.8% in the 1st quarter. Jones Financial Companies Lllp now owns 21,607 shares of the oil and gas company’s stock worth $301,000 after purchasing an additional 18,405 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Cenovus Energy by 6.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 747,472 shares of the oil and gas company’s stock valued at $10,397,000 after buying an additional 44,125 shares during the last quarter. Prudential Financial Inc. bought a new stake in Cenovus Energy in the second quarter valued at $525,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Cenovus Energy by 57.8% during the second quarter. EverSource Wealth Advisors LLC now owns 4,912 shares of the oil and gas company’s stock valued at $67,000 after acquiring an additional 1,800 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of Cenovus Energy during the second quarter valued at $495,000. Institutional investors own 51.19% of the company’s stock.

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.