Militia Capital Management LLC Makes New $1.74 Million Investment in Cenovus Energy Inc $CVE

Militia Capital Management LLC purchased a new stake in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 65,600 shares of the oil and gas company’s stock, valued at approximately $1,740,000.

Several other large investors have also made changes to their positions in CVE. Financial Management Professionals Inc. purchased a new stake in shares of Cenovus Energy during the fourth quarter worth about $25,000. Transamerica Financial Advisors LLC lifted its holdings in Cenovus Energy by 1,302.7% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,543 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 1,433 shares in the last quarter. NBC Securities Inc. boosted its stake in Cenovus Energy by 961.5% in the 4th quarter. NBC Securities Inc. now owns 1,656 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 1,500 shares during the period. Kestra Advisory Services LLC bought a new position in Cenovus Energy in the 4th quarter worth approximately $38,000. Finally, Advisory Services Network LLC bought a new position in Cenovus Energy in the 3rd quarter worth approximately $50,000. 51.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on CVE. Raymond James Financial cut shares of Cenovus Energy from a “strong-buy” rating to an “outperform” rating in a research report on Wednesday, May 6th. Scotiabank upgraded shares of Cenovus Energy to a “strong-buy” rating in a research report on Friday, June 26th. UBS Group reaffirmed a “buy” rating on shares of Cenovus Energy in a research note on Thursday, April 9th. Royal Bank Of Canada lifted their price target on shares of Cenovus Energy from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Tuesday, May 19th. Finally, Desjardins upgraded shares of Cenovus Energy to a “moderate buy” rating in a research note on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Cenovus Energy presently has a consensus rating of “Buy” and a consensus price target of $35.25.

Cenovus Energy Price Performance

Shares of Cenovus Energy stock opened at $29.04 on Thursday. The firm has a market cap of $54.03 billion, a PE ratio of 15.96 and a beta of 0.34. The stock has a 50 day moving average of $27.50 and a 200 day moving average of $24.65. The company has a current ratio of 1.57, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. Cenovus Energy Inc has a 12 month low of $13.98 and a 12 month high of $32.07.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Wednesday, May 6th. The oil and gas company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. The business had revenue of $10.79 billion for the quarter, compared to the consensus estimate of $9.47 billion. Cenovus Energy had a return on equity of 15.29% and a net margin of 9.53%.The company’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS. On average, research analysts expect that Cenovus Energy Inc will post 3.02 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.0%. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 15th. Cenovus Energy’s payout ratio is 35.16%.

Cenovus Energy 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.