Cenovus Energy CEO Brian Ferguson will retire, shares take tumble

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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.

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