111 Capital Acquires 32,092 Shares of Cenovus Energy Inc $CVE

111 Capital raised its holdings in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 75.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 74,541 shares of the oil and gas company’s stock after purchasing an additional 32,092 shares during the period. 111 Capital’s holdings in Cenovus Energy were worth $1,015,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CVE. Foundation Resource Management Inc. increased its position in shares of Cenovus Energy by 3.8% during the first quarter. Foundation Resource Management Inc. now owns 451,615 shares of the oil and gas company’s stock valued at $6,282,000 after acquiring an additional 16,351 shares in the last quarter. Bruce G. Allen Investments LLC bought a new stake in shares of Cenovus Energy during the first quarter valued at approximately $38,000. Elevation Point Wealth Partners LLC increased its position in shares of Cenovus Energy by 14.8% during the first quarter. Elevation Point Wealth Partners LLC now owns 24,988 shares of the oil and gas company’s stock valued at $348,000 after acquiring an additional 3,213 shares in the last quarter. Keystone Wealth Services LLC increased its position in shares of Cenovus Energy by 28.6% during the first quarter. Keystone Wealth Services LLC now owns 15,408 shares of the oil and gas company’s stock valued at $214,000 after acquiring an additional 3,428 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of Cenovus Energy by 20.8% during the first quarter. Janney Montgomery Scott LLC now owns 54,405 shares of the oil and gas company’s stock valued at $757,000 after acquiring an additional 9,376 shares in the last quarter. Institutional investors own 51.19% of the company’s stock.

Cenovus Energy Trading Up 1.3%

NYSE:CVE opened at $16.97 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.78 and a debt-to-equity ratio of 0.24. Cenovus Energy Inc has a 12 month low of $10.23 and a 12 month high of $18.61. The company has a market cap of $30.33 billion, a PE ratio of 16.80 and a beta of 0.92. The company has a 50 day simple moving average of $16.19 and a two-hundred day simple moving average of $14.32.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Thursday, July 31st. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.19. Cenovus Energy had a net margin of 5.18% and a return on equity of 9.06%. The firm had revenue of $10.66 billion during the quarter, compared to the consensus estimate of $10.64 billion. During the same quarter in the previous year, the firm posted $0.62 EPS. The company’s revenue for the quarter was down 12.6% compared to the same quarter last year. Research analysts forecast that Cenovus Energy Inc will post 1.49 earnings per share for the current year.

Cenovus Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.7%. Cenovus Energy’s payout ratio is presently 57.43%.

Analyst Ratings Changes

Several brokerages recently weighed in on CVE. Royal Bank Of Canada raised their price target on shares of Cenovus Energy from $25.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Jefferies Financial Group reissued a “buy” rating on shares of Cenovus Energy in a research report on Tuesday, September 2nd. UBS Group reissued a “buy” rating on shares of Cenovus Energy in a research report on Monday, August 25th. Wall Street Zen raised shares of Cenovus Energy from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. Finally, TD Securities reaffirmed a “buy” rating on shares of Cenovus Energy in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $23.33.

About Cenovus Energy

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.