Militia Capital Management LLC Buys Shares of 65,600 Cenovus Energy Inc $CVE

Key Points

• Militia Capital Management opened a new position in Cenovus Energy, buying 65,600 shares worth about $1.74 million in the first quarter.
• Cenovus posted better-than-expected quarterly results, earning $0.61 per share on revenue of $10.79 billion, both above analyst estimates.
• The company also raised its quarterly dividend to $0.22 per share, and analysts currently rate the stock a Buy with a consensus target price of $35.25.

Militia Capital Management LLC purchased a new stake in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 65,600 shares of the oil and gas company's stock, valued at approximately $1,740,000.

Other large investors have also recently made changes to their positions in the company. Financial Management Professionals Inc. bought a new position in Cenovus Energy during the fourth quarter valued at approximately $25,000. Transamerica Financial Advisors LLC grew its position in Cenovus Energy by 1,302.7% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,543 shares of the oil and gas company's stock worth $26,000 after purchasing an additional 1,433 shares during the period. NBC Securities Inc. grew its position in Cenovus Energy by 961.5% in the 4th quarter. NBC Securities Inc. now owns 1,656 shares of the oil and gas company's stock worth $28,000 after purchasing an additional 1,500 shares during the period. Kestra Advisory Services LLC purchased a new stake in Cenovus Energy during the 4th quarter valued at $38,000. Finally, Geneos Wealth Management Inc. raised its stake in Cenovus Energy by 74.1% during 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 buying an additional 1,384 shares during the last quarter. 51.19% of the stock is currently owned by institutional investors.

Cenovus Energy Stock Performance

Shares of CVE opened at $29.04 on Thursday. The business has a 50-day simple moving average of $27.50 and a two-hundred day simple moving average of $24.65. The company has a quick ratio of 1.00, a current ratio of 1.57 and a debt-to-equity ratio of 0.33. Cenovus Energy Inc has a 52 week low of $13.98 and a 52 week high of $32.07. The stock has a market cap of $54.03 billion, a price-to-earnings ratio of 15.96 and a beta of 0.34.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last announced its quarterly earnings data on Wednesday, May 6th. The oil and gas company reported $0.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.05. The company had revenue of $10.79 billion during the quarter, compared to the consensus estimate of $9.47 billion. Cenovus Energy had a return on equity of 15.29% and a net margin of 9.53%.The firm's revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 EPS. On average, analysts expect that Cenovus Energy Inc will post 3.02 EPS for the current year.

Cenovus Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a dividend of $0.22 per share. This is an increase from Cenovus Energy's previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Monday, June 15th. Cenovus Energy's payout ratio is presently 35.16%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CVE shares. Scotiabank upgraded Cenovus Energy to a "strong-buy" rating in a research note on Friday, June 26th. UBS Group reiterated a "buy" rating on shares of Cenovus Energy in a research report on Thursday, April 9th. Zacks Research downgraded Cenovus Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 16th. Royal Bank Of Canada raised their target price on Cenovus Energy from $45.00 to $47.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 19th. Finally, Wall Street Zen upgraded Cenovus Energy from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $35.25.

Cenovus Energy Company Profile

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.

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