Militia Capital Management LLC Makes New Investment in Cenovus Energy Inc $CVE

Key Points

• Militia Capital Management acquired 65,600 Cenovus Energy shares worth approximately $1.74 million in the first quarter. Institutional investors and hedge funds collectively own 51.19% of the company.
• Cenovus reported quarterly earnings of $1.11 per share and revenue of $14.59 billion, with revenue increasing 47.9% year over year. The company declared a quarterly dividend of $0.22 per share, representing a 2.9% annualized yield.
• Analyst sentiment remains favorable, with a MarketBeat consensus rating of “Moderate Buy” and an average price target of $36.25 versus the stock’s reported $30.14 price.

Militia Capital Management LLC acquired a new position in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 65,600 shares of the oil and gas company's stock, valued at approximately $1,740,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. bought a new position in shares of Cenovus Energy in the 4th quarter valued at $25,000. Transamerica Financial Advisors LLC raised its holdings in shares of Cenovus Energy by 1,302.7% during the 4th quarter. Transamerica Financial Advisors LLC now owns 1,543 shares of the oil and gas company's stock worth $26,000 after buying an additional 1,433 shares in the last quarter. NBC Securities Inc. lifted its position in shares of 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 buying an additional 1,500 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in Cenovus Energy in the fourth quarter valued at about $38,000. Finally, Advisory Services Network LLC acquired a new stake in Cenovus Energy in the third quarter valued at about $50,000. 51.19% of the stock is owned by institutional investors and hedge funds.

Cenovus Energy Stock Down 0.2%

Cenovus Energy stock opened at $30.14 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.63 and a debt-to-equity ratio of 0.25. Cenovus Energy Inc has a 12-month low of $14.48 and a 12-month high of $32.07. The firm's fifty day moving average is $27.28 and its 200 day moving average is $25.28. The company has a market capitalization of $56.07 billion, a PE ratio of 11.59 and a beta of 0.34.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued its earnings results on Wednesday, July 29th. The oil and gas company reported $1.11 EPS for the quarter, meeting the consensus estimate of $1.11. Cenovus Energy had a return on equity of 21.08% and a net margin of 12.37%.The company had revenue of $14.59 billion during the quarter, compared to the consensus estimate of $11.87 billion. During the same period last year, the business posted $0.45 EPS. The firm's revenue for the quarter was up 47.9% compared to the same quarter last year. As a group, sell-side analysts predict that Cenovus Energy Inc will post 2.89 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.88 annualized dividend and a yield of 2.9%. Cenovus Energy's dividend payout ratio is 23.46%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CVE shares. UBS Group reiterated a "buy" rating on shares of Cenovus Energy in a report on Thursday, April 9th. The Goldman Sachs Group restated a "buy" rating on shares of Cenovus Energy in a research report on Wednesday, May 13th. Desjardins upgraded Cenovus Energy to a "moderate buy" rating in a research report on Thursday, July 16th. Weiss Ratings cut Cenovus Energy from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, July 28th. Finally, Scotiabank reiterated an "outperform" rating on shares of Cenovus Energy in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $36.25.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source