U.S. Capital Wealth Advisors LLC Buys 97,108 Shares of Cenovus Energy Inc $CVE

Key Points

• U.S. Capital Wealth Advisors LLC increased its holdings in Cenovus Energy Inc by 14.8%, owning 752,241 shares worth approximately $10.23 million as of the latest SEC filing.
• Other institutional investors have also shown significant interest in Cenovus, with notable increases in stakes from firms like Cromwell Holdings LLC and MassMutual Private Wealth & Trust FSB.
• Cenovus Energy recently reported $0.33 earnings per share, surpassing analysts' estimates, but its revenue decreased by 12.6% year-over-year, totaling $10.66 billion.

U.S. Capital Wealth Advisors LLC boosted its holdings in Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE by 14.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 752,241 shares of the oil and gas company's stock after acquiring an additional 97,108 shares during the quarter. U.S. Capital Wealth Advisors LLC's holdings in Cenovus Energy were worth $10,230,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVE. Bruce G. Allen Investments LLC acquired a new stake in Cenovus Energy during the 1st quarter worth about $38,000. Cromwell Holdings LLC grew its stake in shares of Cenovus Energy by 1,165.1% in the 1st quarter. Cromwell Holdings LLC now owns 3,049 shares of the oil and gas company's stock valued at $42,000 after buying an additional 2,808 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Cenovus Energy in the 1st quarter valued at approximately $42,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Cenovus Energy by 190.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 5,988 shares of the oil and gas company's stock valued at $81,000 after buying an additional 3,924 shares in the last quarter. Finally, Clarius Group LLC bought a new stake in shares of Cenovus Energy in the 1st quarter valued at approximately $150,000. Institutional investors and hedge funds own 51.19% of the company's stock.

Cenovus Energy Price Performance

Shares of NYSE:CVE traded up $0.09 during midday trading on Monday, reaching $17.08. The company's stock had a trading volume of 23,611,033 shares, compared to its average volume of 16,880,758. The business's fifty day simple moving average is $15.65 and its 200-day simple moving average is $14.08. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.32 and a quick ratio of 0.78. The company has a market capitalization of $30.53 billion, a P/E ratio of 16.91 and a beta of 0.99. Cenovus Energy Inc has a fifty-two week low of $10.23 and a fifty-two week high of $18.61.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last announced its quarterly earnings data on Thursday, July 31st. The oil and gas company reported $0.33 EPS for the quarter, topping analysts' consensus estimates 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 period last year, the company earned $0.62 earnings per share. The company's revenue was down 12.6% on a year-over-year basis. As a group, equities research analysts expect that Cenovus Energy Inc will post 1.49 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.7%. Cenovus Energy's payout ratio is presently 57.43%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. UBS Group reaffirmed a "buy" rating on shares of Cenovus Energy in a research report on Monday, August 25th. Wall Street Zen raised Cenovus Energy from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. National Bankshares reaffirmed an "outperform" rating on shares of Cenovus Energy in a research report on Wednesday, September 10th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Cenovus Energy in a research report on Tuesday, September 2nd. Finally, National Bank Financial raised Cenovus Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 22nd. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average 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.