1,418,730 Shares in Cenovus Energy Inc $CVE Bought by Yaupon Capital Management LP

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

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Public Employees Retirement System of Ohio increased its holdings in Cenovus Energy by 0.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 241,113 shares of the oil and gas company's stock valued at $3,653,000 after acquiring an additional 762 shares in the last quarter. NFP Retirement Inc. raised its position in shares of Cenovus Energy by 2.7% during the 1st quarter. NFP Retirement Inc. now owns 34,500 shares of the oil and gas company's stock worth $480,000 after purchasing an additional 900 shares during the last quarter. Meridian Investment Counsel Inc. lifted its stake in Cenovus Energy by 4.9% in the 1st quarter. Meridian Investment Counsel Inc. now owns 21,275 shares of the oil and gas company's stock valued at $296,000 after buying an additional 1,000 shares in the last quarter. SeaBridge Investment Advisors LLC lifted its stake in Cenovus Energy by 10.0% in 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 in the last quarter. Finally, Arkadios Wealth Advisors grew its holdings in Cenovus Energy by 11.4% during the 1st quarter. Arkadios Wealth Advisors now owns 19,943 shares of the oil and gas company's stock valued at $277,000 after buying an additional 2,035 shares during the last quarter. 51.19% of the stock is owned by institutional investors and hedge funds.

Cenovus Energy Trading Down 0.8%

Shares of NYSE CVE traded down $0.14 during trading on Thursday, hitting $16.91. 11,153,471 shares of the company traded hands, compared to its average volume of 13,998,030. The firm has a market capitalization of $30.41 billion, a P/E ratio of 16.74 and a beta of 0.99. 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 company has a 50-day moving average price of $15.25 and a 200-day moving average price of $13.87. Cenovus Energy Inc has a 1 year low of $10.23 and a 1 year high of $18.61.

Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE last issued its earnings results 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 firm had revenue of $10.66 billion for the quarter, compared to analysts' expectations of $10.64 billion. During the same quarter last year, the firm 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 analysts predict that Cenovus Energy Inc will post 1.49 EPS for the current year.

Cenovus Energy Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on CVE. Veritas downgraded Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Royal Bank Of Canada boosted their target price on shares of Cenovus Energy from $25.00 to $26.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. National Bank Financial raised shares of Cenovus Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 22nd. Wall Street Zen raised shares of Cenovus Energy from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Finally, UBS Group reissued a "buy" rating on shares of Cenovus Energy in a research note on Monday, August 25th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Cenovus Energy has a consensus rating of "Buy" and an average target price of $23.33.

Cenovus Energy 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.