Yaupon Capital Management LP Invests $19.74 Million in Cenovus Energy Inc $CVE

Key Points

• Yaupon Capital Management LP has acquired 1,418,730 shares of Cenovus Energy Inc, valued at approximately $19,735,000, representing about 0.08% ownership of the company.
• Five different institutional investors have increased their stakes in Cenovus Energy during the first quarter, highlighting a growing interest among large investors in this oil and gas company.
• Cenovus Energy recently announced a quarterly dividend of $0.20 per share, resulting in an annualized yield of 5.0%, with the dividend payout ratio sitting at 57.43%.

Yaupon Capital Management LP purchased a new stake in shares of Cenovus Energy Inc (NYSE:CVE - Free Report) TSE: CVE during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,418,730 shares of the oil and gas company's stock, valued at approximately $19,735,000. Yaupon Capital Management LP owned 0.08% of Cenovus Energy as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bruce G. Allen Investments LLC purchased a new stake in Cenovus Energy during the 1st quarter valued at $38,000. Caitong International Asset Management Co. Ltd purchased a new stake in Cenovus Energy during the 1st quarter valued at $42,000. Cromwell Holdings LLC raised its holdings in Cenovus Energy by 1,165.1% during 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 during the period. Clarius Group LLC purchased a new stake in Cenovus Energy during the 1st quarter valued at $150,000. Finally, SeaBridge Investment Advisors LLC raised its holdings in Cenovus Energy by 10.0% during the 1st quarter. SeaBridge Investment Advisors LLC now owns 11,000 shares of the oil and gas company's stock valued at $153,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 51.19% of the company's stock.

Cenovus Energy Stock Down 0.1%

CVE stock traded down $0.01 during trading on Friday, reaching $16.89. 28,727,279 shares of the company traded hands, compared to its average volume of 14,035,722. Cenovus Energy Inc has a 12 month low of $10.23 and a 12 month high of $18.61. The business has a 50 day simple moving average of $15.31 and a 200 day simple moving average of $13.89. The company has a market capitalization of $30.38 billion, a price-to-earnings ratio of 16.72 and a beta of 0.99. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.78 and a current ratio of 1.32.

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 earnings per share for the quarter, beating 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 company had revenue of $10.66 billion for the quarter, compared to the consensus estimate of $10.64 billion. During the same quarter last year, the company earned $0.62 earnings per share. The firm's revenue for the quarter was down 12.6% compared to the same quarter last year. On average, equities research analysts anticipate that Cenovus Energy Inc will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Monday, September 15th. Cenovus Energy's dividend payout ratio (DPR) is currently 56.44%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CVE. National Bankshares reiterated an "outperform" rating on shares of Cenovus Energy in a research note on Wednesday. Royal Bank Of Canada increased their target price on Cenovus Energy from $25.00 to $26.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Jefferies Financial Group reiterated a "buy" rating on shares of Cenovus Energy in a research note on Tuesday, September 2nd. National Bank Financial upgraded Cenovus Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 22nd. Finally, UBS Group reiterated a "buy" rating on shares of Cenovus Energy in a research note on Monday, August 25th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target 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.