Callan Family Office LLC Makes New Investment in Cenovus Energy Inc $CVE

Callan Family Office LLC bought a new stake in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 23,877 shares of the oil and gas company’s stock, valued at approximately $592,000.

Several other large investors have also recently made changes to their positions in the business. J.W. Cole Advisors Inc. grew its stake in shares of Cenovus Energy by 3.9% in the 4th quarter. J.W. Cole Advisors Inc. now owns 13,407 shares of the oil and gas company’s stock worth $227,000 after buying an additional 500 shares during the last quarter. Gateway Investment Advisers LLC raised its stake in Cenovus Energy by 0.6% during the fourth quarter. Gateway Investment Advisers LLC now owns 93,986 shares of the oil and gas company’s stock valued at $1,590,000 after buying an additional 523 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Cenovus Energy by 0.9% in the fourth quarter. International Assets Investment Management LLC now owns 65,248 shares of the oil and gas company’s stock worth $1,104,000 after acquiring an additional 565 shares in the last quarter. OLD National Bancorp IN boosted its holdings in Cenovus Energy by 5.2% in the first quarter. OLD National Bancorp IN now owns 12,597 shares of the oil and gas company’s stock worth $334,000 after acquiring an additional 618 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of Cenovus Energy by 24.4% in the fourth quarter. Farther Finance Advisors LLC now owns 3,307 shares of the oil and gas company’s stock worth $56,000 after acquiring an additional 649 shares during the last quarter. 51.19% of the stock is currently owned by hedge funds and other institutional investors.

Cenovus Energy Stock Performance

Shares of CVE opened at $30.83 on Wednesday. The firm has a market capitalization of $57.02 billion, a P/E ratio of 11.86 and a beta of 0.34. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.63 and a quick ratio of 1.04. Cenovus Energy Inc has a one year low of $15.63 and a one year high of $33.40. The business has a fifty day moving average of $28.02 and a 200 day moving average of $26.67.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results on Wednesday, July 29th. The oil and gas company reported $1.11 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.11. The company had revenue of $14.59 billion for the quarter, compared to the consensus estimate of $11.87 billion. Cenovus Energy had a return on equity of 21.08% and a net margin of 12.37%.Cenovus Energy’s revenue was up 47.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 earnings per share. As a group, sell-side analysts anticipate that Cenovus Energy Inc will post 3.2 EPS for the current year.

Cenovus Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Tuesday, September 15th. Cenovus Energy’s dividend payout ratio is 24.62%.

Analyst Upgrades and Downgrades

CVE has been the subject of several recent analyst reports. Desjardins raised Cenovus Energy to a “moderate buy” rating in a research report on Thursday, July 16th. Royal Bank Of Canada increased 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, July 30th. Scotiabank restated an “outperform” rating on shares of Cenovus Energy in a research note on Thursday, July 30th. Zacks Research cut shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Finally, Raymond James Financial downgraded shares of Cenovus Energy from a “strong-buy” rating to an “outperform” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Cenovus Energy has a consensus rating of “Moderate Buy” and a consensus target price of $36.25.

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.