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

Militia Capital Management LLC acquired a new stake in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 65,600 shares of the oil and gas company’s stock, valued at approximately $1,740,000.

A number of other large investors have also bought and sold shares of CVE. Parallel Advisors LLC boosted its position in Cenovus Energy by 19.8% during the first quarter. Parallel Advisors LLC now owns 20,376 shares of the oil and gas company’s stock worth $541,000 after purchasing an additional 3,370 shares during the period. Bank of America Corp DE raised its position in shares of Cenovus Energy by 111.2% in the first quarter. Bank of America Corp DE now owns 22,770,723 shares of the oil and gas company’s stock valued at $604,107,000 after purchasing an additional 11,990,405 shares during the period. Guardian Partners Inc. raised its position in shares of Cenovus Energy by 9.5% in the first quarter. Guardian Partners Inc. now owns 142,162 shares of the oil and gas company’s stock valued at $3,760,000 after purchasing an additional 12,358 shares during the period. Amundi lifted its stake in shares of Cenovus Energy by 1.4% during the 1st quarter. Amundi now owns 5,366,196 shares of the oil and gas company’s stock valued at $142,365,000 after buying an additional 71,891 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Cenovus Energy by 29.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 8,107 shares of the oil and gas company’s stock valued at $215,000 after buying an additional 1,843 shares in the last quarter. 51.19% of the stock is owned by hedge funds and other institutional investors.

Cenovus Energy Stock Performance

Shares of NYSE CVE opened at $30.14 on Monday. The stock’s 50-day moving average is $27.28 and its 200 day moving average is $25.28. The stock has a market cap of $56.07 billion, a price-to-earnings ratio of 11.59 and a beta of 0.34. Cenovus Energy Inc has a 1-year low of $14.48 and a 1-year high of $32.07. The company has a current ratio of 1.63, a quick ratio of 1.04 and a debt-to-equity ratio of 0.25.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released 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 net margin of 12.37% and a return on equity of 21.08%. The company had revenue of $14.59 billion for the quarter, compared to analyst estimates of $11.87 billion. During the same quarter last year, the firm earned $0.45 EPS. The firm’s quarterly revenue was up 47.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Cenovus Energy Inc will post 2.89 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.88 dividend on an annualized basis and a yield of 2.9%. Cenovus Energy’s dividend payout ratio is presently 23.46%.

Analysts Set New Price Targets

CVE has been the topic of a number of recent research reports. Desjardins raised Cenovus Energy to a “moderate buy” rating in a report on Thursday, July 16th. Weiss Ratings cut Cenovus Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, July 28th. Wall Street Zen downgraded shares of Cenovus Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 25th. Royal Bank Of Canada raised their price objective on shares of Cenovus Energy from $47.00 to $51.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Cenovus Energy in a report on Thursday. One 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 company. According to MarketBeat.com, Cenovus Energy currently has a consensus rating of “Moderate Buy” and an average target price of $36.25.

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.