X Square Capital LLC Invests $665,000 in Cenovus Energy Inc $CVE

X Square Capital LLC purchased a new position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 26,788 shares of the oil and gas company’s stock, valued at approximately $665,000.

Several other institutional investors have also recently made changes to their positions in CVE. Transamerica Financial Advisors LLC lifted its stake in Cenovus Energy by 1,302.7% in the fourth 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 during the period. NBC Securities Inc. grew its holdings 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 in the last quarter. Gables Capital Management Inc. purchased a new position in Cenovus Energy during the 2nd quarter valued at about $35,000. Kestra Advisory Services LLC purchased a new position in Cenovus Energy during the 4th quarter valued at about $38,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Cenovus Energy by 74.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 3,253 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 1,384 shares in the last quarter. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Wall Street Analyst Weigh In

CVE has been the subject of several research reports. Morgan Stanley reaffirmed an “overweight” rating on shares of Cenovus Energy in a research report on Wednesday. Zacks Research downgraded shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Royal Bank Of Canada upped their target price on Cenovus Energy from $47.00 to $51.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Cenovus Energy in a research report on Wednesday, May 13th. Finally, Raymond James Financial downgraded Cenovus Energy from a “strong-buy” rating to an “outperform” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Cenovus Energy has an average rating of “Moderate Buy” and a consensus target price of $36.25.

Cenovus Energy Stock Performance

Shares of CVE stock opened at $32.99 on Friday. Cenovus Energy Inc has a 12-month low of $15.44 and a 12-month high of $33.40. The business’s fifty day simple moving average is $27.83 and its 200-day simple moving average is $26.46. The company has a current ratio of 1.63, a quick ratio of 1.04 and a debt-to-equity ratio of 0.25. The company has a market cap of $61.01 billion, a PE ratio of 12.69 and a beta of 0.34.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $1.11 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.11. Cenovus Energy had a return on equity of 21.08% and a net margin of 12.37%.The firm had revenue of $14.59 billion during the quarter, compared to analysts’ expectations of $11.87 billion. During the same quarter last year, the firm earned $0.45 EPS. The business’s quarterly revenue was up 47.9% on a year-over-year basis. Analysts expect that Cenovus Energy Inc will post 3.2 earnings per share for the current fiscal year.

Cenovus Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a $0.22 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.88 dividend on an annualized basis and a yield of 2.7%. Cenovus Energy’s dividend payout ratio (DPR) is 24.62%.

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.