Caitong International Asset Management Co. Ltd Invests $42,000 in Cenovus Energy Inc $CVE

Caitong International Asset Management Co. Ltd purchased a new position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,006 shares of the oil and gas company’s stock, valued at approximately $42,000.

Several other hedge funds also recently modified their holdings of the business. Public Employees Retirement System of Ohio increased its stake in shares of 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 worth $3,653,000 after purchasing an additional 762 shares during the last quarter. Guggenheim Capital LLC lifted its holdings in Cenovus Energy by 4.5% in the 4th quarter. Guggenheim Capital LLC now owns 20,974 shares of the oil and gas company’s stock worth $318,000 after purchasing an additional 908 shares during the last quarter. Meridian Investment Counsel Inc. lifted its holdings 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 worth $296,000 after purchasing an additional 1,000 shares during the last quarter. SeaBridge Investment Advisors LLC lifted its holdings 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 worth $153,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Arkadios Wealth Advisors lifted its holdings in Cenovus Energy by 11.4% in the 1st quarter. Arkadios Wealth Advisors now owns 19,943 shares of the oil and gas company’s stock worth $277,000 after purchasing an additional 2,035 shares during the last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.

Cenovus Energy Stock Down 0.6%

Shares of CVE stock opened at $15.04 on Monday. Cenovus Energy Inc has a 12 month low of $10.23 and a 12 month high of $20.03. The firm has a market cap of $27.05 billion, a PE ratio of 14.89 and a beta of 0.97. The stock has a 50 day moving average of $14.45 and a 200-day moving average of $13.69. The company has a quick ratio of 0.78, a current ratio of 1.32 and a debt-to-equity ratio of 0.24.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings results 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. The company had revenue of $10.66 billion during the quarter, compared to analyst estimates of $10.64 billion. Cenovus Energy had a return on equity of 9.06% and a net margin of 5.18%. The company’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.62 earnings per share. On average, equities analysts predict that Cenovus Energy Inc will post 1.49 EPS for the current year.

Cenovus Energy Increases Dividend

The company also recently announced a dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid a $0.20 dividend. The ex-dividend date was Friday, June 13th. This is a positive change from Cenovus Energy’s previous dividend of $0.11. This represents a dividend yield of 425.0%. Cenovus Energy’s dividend payout ratio is currently 57.43%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CVE shares. Wall Street Zen upgraded Cenovus Energy from a “sell” rating to a “hold” rating in a report on Sunday, August 3rd. National Bankshares restated a “sector perform” rating on shares of Cenovus Energy in a report on Friday, April 25th. Royal Bank Of Canada boosted their target price on Cenovus Energy from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. The Goldman Sachs Group reduced their target price on Cenovus Energy from $18.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Finally, Veritas lowered Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 14th. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $23.33.

About Cenovus Energy

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.