Cenovus Energy CEO Brian Ferguson will retire, shares take tumble

Luxury Shopping Personal Touch

Luxury Shopping Personal Touch

For the next year, analysts forecast that the business will report earnings of $0.44 per share, with EPS estimates ranging from $0.35 to $0.56.

Cenovus Energy (NYSE: CVE) (TSE: CVE) last posted its earnings results on Wednesday, April 26th. The current consensus recommendation provided by covering analysts is 2.40. Analysts pegging the company with a rating of 3 would be indicating a Hold recommendation. During the same period in the previous year, the firm posted ($0.51) earnings per share.

Shares in the company fell more than 10% after the news, trading hands in Toronto at Cdn$9.31 at 10:47 ET. Instinet reduced their target price on Cenovus Energy from C$20.00 to C$18.00 in a research report on Friday, March 31st.

On Monday, April 3rd, Richard Joseph Marcogliese acquired 5,000 shares of Cenovus Energy stock. Vetr upgraded it to "Buy" rating and $51.66 target in Monday, August 24 report. Nomura upgraded Cenovus Energy Inc (USA) (NYSE: CVE) on Thursday, January 21 to "Neutral" rating. Cenovus Energy presently has a consensus rating of "Hold" and a consensus price target of $19.35. Cenovus Energy has a 52-week low of $7.81 and a 52-week high of $16.82. About 2.03M shares traded.

Another of the company's goal is to cut up to $1 billion in costs over the next three years, as well as to save about $375 million from general and administrative expenses, including from an optimized workforce. The stock's market cap is $5.77 billion. The firm's 50-day moving average is $9.13 and its 200-day moving average is $12.33.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be given a $0.0371 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Tuesday, June 13th. Cenovus Energy's dividend payout ratio (DPR) is now -71.43%.

Several other hedge funds have also modified their holdings of CVE. Virginia Retirement Systems ET AL raised its position in Cenovus Energy by 57.0% in the third quarter. The Commonwealth Bank Of Australia holds 174,022 shares with $2.63 million value, up from 150,172 last quarter. Finally, Harbor Advisors LLC bought a new stake in Cenovus Energy during the fourth quarter valued at $200,000. That's right - they think these 10 stocks are even better buys.

News articles about Cenovus Energy (NYSE: CVE) (TSE: CVE) have been trending positive this week, according to Alpha One Sentiment Analysis. World Asset Management Inc now owns 55,728 shares of the oil and gas company's stock valued at $801,000 after buying an additional 4,160 shares during the last quarter. First Eagle Investment Management LLC raised its stake in Cenovus Energy by 25.6% in the first quarter. Deprince Race & Zollo Inc owns 602,659 shares or 0.15% of their USA portfolio. If you are viewing this article on another site, it was illegally copied and reposted in violation of worldwide trademark and copyright law.

Cenovus Energy Inc. now has $8.54 B valuation.

Recommended News

  • Protests over Minnesota police shooting result in 18 arrests on freeway

    Yanez fired seven bullets into Castile's vehicle shortly after the 32-year-old black man disclosed that he was carrying a firearm. Another demonstrator said, "This was a case where we thought we would really get some justice, and it turns out we can't".

    For Georgia escapees, end of road is a driveway in Tennessee

    (AP) - The escaped inmates wanted in the slayings of two Georgia prison guards have been captured in Rutherford County. Their weapons were recovered at the crash site and no one was injured in the chase, according to the news station.
    New York City deli clerk gets jaw broken in avocado attack

    New York City deli clerk gets jaw broken in avocado attack

    Police say the 21-year-old employee was behind the counter at the stadium gourmet deli at the time. The suspect was angry about an order when he started hurling avocados and bananas, police said.
  • Gas prices down 1 cent per gallon in Rhode Island

    Gas prices down 1 cent per gallon in Rhode Island

    The average price for gasoline in Tennessee declined for the 20th consecutive day on Sunday, for a total discount of 6 cents. AAA found self-serve, regular selling for as low as $2.11 and as high as $2.46 per gallon.

    North Korea: US officials seized diplomatic package at JFK

    Does North Korea have a sense of humor after all? There was no official US comment on the claims, the News reported. North Korea has demanded the United States provide official explanations over an incident at New York's John F.
    College Station kids walk in Juneteenth celebration of freedom

    College Station kids walk in Juneteenth celebration of freedom

    The East Biloxi Community Collaborative will join the nationwide celebration by hosting the 2017 Juneteenth Celebration. The Cobb chapter of the NAACP will host a three-day celebration of Juneteenth on Marietta Square this weekend.
  • Rosenstein Says He Has Seen No Reason to Remove Mueller

    He added that fundraising records show some of the lawyers whom Mueller selected for his team have contributed to Democrats. Speculation is swirling about whether President Donald Trump will remove special counsel Robert Mueller from his post .

    Anger erupts in London as Grenfell protesters take to the streets

    Police also confirmed the first victim of the Grenfell Tower disaster has been formally identified as Mohammed Al Haj Ali . She said earlier that the national mood is somber but that Britain is resolute in the face of adversity.
    Carl Frampton to fight Andres Gutierrez in Belfast next month

    Carl Frampton to fight Andres Gutierrez in Belfast next month

    Many observers felt that Gutierrez was extremely unfortunate to lose that fight. 'I have lost one fight but I thought I won that. FORMER two-weight world champion Carl Frampton will fight Mexico's Andres Gutierrez at the Odyssey Arena in Belfast on July 29.
  • Retailers quaking as Amazon embraces bricks and mortar

    Retailers quaking as Amazon embraces bricks and mortar

    Both companies said there will be no layoffs, but they did not respond to other questions about Amazon's plans for Whole Foods . Furthermore, most Whole Foods markets are in neighborhoods that are more affluent and younger than America as a whole.

    Nintendo actively looking into bringing more Wii U games to Switch

    Fils-Aime says it comes down to phones offering a better overall experience for voice chat. It is a feature that gamers want and that Fils-Aime said Nintendo has heard that message.
    Dennis Rodman Says He's On 'Mission' To North Korea

    Dennis Rodman Says He's On 'Mission' To North Korea

    We're all so glad to hear that Otto Warmbier is coming home &will soon be reunited with his family in OH. Warmbier was detained in January of 2016 at the airport in Pyongyang while he was on his way home.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.