Cenovus Energy Inc (CVE) Short Interest Update
Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) was the recipient of a significant increase in short interest in September. As of September 15th, there was short interest totalling 39,804,088 shares, an increase of 15.7% from the August 31st total of 34,393,424 shares. Currently, 3.9% of the company’s stock are short sold. Based on an average daily volume of 5,014,755 shares, the short-interest ratio is presently 7.9 days.
A number of equities analysts recently commented on CVE shares. Canaccord Genuity reiterated a “buy” rating and set a $14.00 target price on shares of Cenovus Energy in a research note on Tuesday, September 5th. Morgan Stanley downgraded shares of Cenovus Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 19th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a $8.00 target price on shares of Cenovus Energy in a research note on Thursday, June 22nd. Zacks Investment Research downgraded shares of Cenovus Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, National Bank Financial started coverage on shares of Cenovus Energy in a research note on Tuesday, June 27th. They set a “sector perform” rating for the company. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. Cenovus Energy has an average rating of “Hold” and an average price target of $17.11.
Cenovus Energy (NYSE:CVE) opened at 9.88 on Friday. Cenovus Energy has a 1-year low of $6.76 and a 1-year high of $16.82. The firm has a market cap of $12.14 billion, a P/E ratio of 4.03 and a beta of 0.60. The firm has a 50-day moving average of $8.77 and a 200 day moving average of $9.03.
Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.24. The company had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.40 billion. Cenovus Energy had a net margin of 63.93% and a return on equity of 65.90%. During the same period last year, the business earned ($0.05) EPS. On average, analysts predict that Cenovus Energy will post $0.48 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a dividend of $0.039 per share. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Thursday, September 14th. Cenovus Energy’s dividend payout ratio (DPR) is currently 8.89%.
A number of hedge funds have recently made changes to their positions in CVE. Wells Fargo & Company MN grew its holdings in Cenovus Energy by 16.1% during the 1st quarter. Wells Fargo & Company MN now owns 81,531 shares of the oil and gas company’s stock worth $921,000 after acquiring an additional 11,313 shares in the last quarter. First Trust Advisors LP grew its holdings in Cenovus Energy by 17.8% during the 1st quarter. First Trust Advisors LP now owns 43,183 shares of the oil and gas company’s stock worth $488,000 after acquiring an additional 6,521 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in Cenovus Energy by 2.3% during the 1st quarter. UBS Asset Management Americas Inc. now owns 2,208,908 shares of the oil and gas company’s stock worth $24,927,000 after acquiring an additional 49,076 shares in the last quarter. Karp Capital Management Corp acquired a new position in shares of Cenovus Energy in the 1st quarter valued at about $1,538,000. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Cenovus Energy by 21.8% in the 1st quarter. Ameriprise Financial Inc. now owns 117,706 shares of the oil and gas company’s stock valued at $1,326,000 after buying an additional 21,046 shares during the period. 56.17% of the stock is owned by institutional investors.
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About Cenovus Energy
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