Castle Rock Wealth Management LLC Takes $1.33 Million Position in Cenovus Energy Inc $CVE

Key Points

• Castle Rock Wealth Management LLC has acquired a new position in Cenovus Energy Inc, purchasing 94,079 shares valued at approximately $1.33 million during the second quarter.
• Cenovus Energy reported an EPS of $0.33 for the last quarter, surpassing estimates of $0.14, although its revenue fell by 12.6% compared to the same quarter last year.
• The company declared a quarterly dividend of $0.20 per share, reflecting a 4.6% dividend yield, with a payout ratio currently at 57.43%.

Castle Rock Wealth Management LLC bought a new stake in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 94,079 shares of the oil and gas company's stock, valued at approximately $1,331,000.

A number of other large investors have also recently modified their holdings of the company. Mraz Amerine & Associates Inc. boosted its holdings in shares of Cenovus Energy by 24.5% in the second quarter. Mraz Amerine & Associates Inc. now owns 331,398 shares of the oil and gas company's stock valued at $4,507,000 after purchasing an additional 65,305 shares during the period. 111 Capital boosted its holdings in shares of Cenovus Energy by 75.6% in the second quarter. 111 Capital now owns 74,541 shares of the oil and gas company's stock valued at $1,015,000 after purchasing an additional 32,092 shares during the period. Ascent Group LLC purchased a new stake in shares of Cenovus Energy in the second quarter valued at approximately $194,000. Truist Financial Corp boosted its holdings in shares of Cenovus Energy by 25.3% in the second quarter. Truist Financial Corp now owns 59,888 shares of the oil and gas company's stock valued at $814,000 after purchasing an additional 12,084 shares during the period. Finally, Signaturefd LLC boosted its holdings in shares of Cenovus Energy by 84.3% in the second quarter. Signaturefd LLC now owns 64,224 shares of the oil and gas company's stock valued at $873,000 after purchasing an additional 29,371 shares during the period. Hedge funds and other institutional investors own 51.19% of the company's stock.

Cenovus Energy Stock Down 0.4%

Cenovus Energy stock opened at $17.41 on Wednesday. The business has a fifty day moving average of $16.28 and a two-hundred day moving average of $14.37. The company has a quick ratio of 0.78, a current ratio of 1.32 and a debt-to-equity ratio of 0.24. The firm has a market cap of $31.11 billion, a P/E ratio of 17.23 and a beta of 0.92. Cenovus Energy Inc has a twelve month low of $10.23 and a twelve month high of $18.17.

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

Cenovus Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Monday, September 15th. Cenovus Energy's dividend payout ratio is currently 57.43%.

Analyst Ratings Changes

A number of brokerages recently issued reports on CVE. Weiss Ratings reiterated a "hold (c-)" rating on shares of Cenovus Energy in a report on Saturday, September 27th. National Bank Financial upgraded Cenovus Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, August 22nd. Royal Bank Of Canada boosted their price target on Cenovus Energy from $25.00 to $26.00 and gave the company an "outperform" rating in a report on Friday, August 1st. TD Securities restated a "buy" rating on shares of Cenovus Energy in a report on Tuesday, September 30th. Finally, UBS Group restated a "buy" rating on shares of Cenovus Energy in a report on Monday, August 25th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Cenovus Energy has an average rating of "Buy" and a consensus target price of $23.33.

Cenovus Energy Company Profile

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.

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