Cenovus Energy Inc (CVE) Short Interest Update
Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 34,393,424 shares, a growth of 26.6% from the August 15th total of 27,177,354 shares. Approximately 3.4% of the company’s stock are short sold. Based on an average daily volume of 2,956,757 shares, the short-interest ratio is currently 11.6 days.
Shares of Cenovus Energy (NYSE CVE) opened at 9.04 on Friday. Cenovus Energy has a one year low of $6.76 and a one year high of $16.82. The company has a market cap of $11.11 billion, a P/E ratio of 3.80 and a beta of 0.56. The company has a 50 day moving average price of $8.02 and a 200 day moving average price of $9.27.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.24. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.40 billion. Cenovus Energy had a return on equity of 3.20% and a net margin of 17.89%. During the same period in the previous year, the business earned ($0.05) earnings per share. Equities research analysts expect that Cenovus Energy will post $0.40 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.039 per share. This represents a $0.16 dividend on an annualized basis and a yield of 1.73%. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Thursday, September 14th. Cenovus Energy’s payout ratio is presently 8.89%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVE. Acadian Asset Management LLC boosted its holdings in Cenovus Energy by 51.6% during the first quarter. Acadian Asset Management LLC now owns 13,800 shares of the oil and gas company’s stock valued at $156,000 after purchasing an additional 4,700 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Cenovus Energy by 16.1% during the first quarter. Wells Fargo & Company MN now owns 81,531 shares of the oil and gas company’s stock valued at $921,000 after purchasing an additional 11,313 shares in the last quarter. First Trust Advisors LP boosted its holdings in Cenovus Energy by 17.8% during the first quarter. First Trust Advisors LP now owns 43,183 shares of the oil and gas company’s stock valued at $488,000 after purchasing an additional 6,521 shares in the last quarter. World Asset Management Inc boosted its holdings in Cenovus Energy by 1.4% during the first quarter. World Asset Management Inc now owns 51,918 shares of the oil and gas company’s stock valued at $587,000 after purchasing an additional 695 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its holdings in Cenovus Energy by 2.3% during the first quarter. UBS Asset Management Americas Inc. now owns 2,208,908 shares of the oil and gas company’s stock valued at $24,927,000 after purchasing an additional 49,076 shares in the last quarter. 56.17% of the stock is currently owned by institutional investors.
A number of research analysts have commented on the company. Canaccord Genuity raised Cenovus Energy from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. Zacks Investment Research raised Cenovus Energy from a “hold” rating to a “buy” rating and set a $8.25 target price on the stock in a report on Tuesday, July 25th. Morgan Stanley downgraded Cenovus Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, July 19th. ValuEngine raised Cenovus Energy from a “sell” rating to a “hold” rating in a report on Friday, July 28th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $8.00 target price on shares of Cenovus Energy in a report on Thursday, June 22nd. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $17.04.
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Cenovus Energy Company Profile
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