Castle Rock Wealth Management LLC Sells 68,747 Shares of Cenovus Energy Inc $CVE

Castle Rock Wealth Management LLC lessened its holdings in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 67.6% during the 3rd quarter, Holdings Channel reports. The firm owned 32,925 shares of the oil and gas company’s stock after selling 68,747 shares during the quarter. Castle Rock Wealth Management LLC’s holdings in Cenovus Energy were worth $1,029,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Pacifica Partners Inc. increased its stake in shares of Cenovus Energy by 3.8% during the 3rd quarter. Pacifica Partners Inc. now owns 185,441 shares of the oil and gas company’s stock worth $5,849,000 after purchasing an additional 6,874 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Cenovus Energy by 23.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,993 shares of the oil and gas company’s stock valued at $155,000 after buying an additional 956 shares in the last quarter. Moody National Bank Trust Division purchased a new stake in Cenovus Energy in the 3rd quarter valued at approximately $203,000. Versant Capital Management Inc grew its holdings in Cenovus Energy by 990.9% during the 3rd quarter. Versant Capital Management Inc now owns 1,080 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 981 shares during the last quarter. Finally, Core Capital Management & Research inc. acquired a new stake in Cenovus Energy during the 2nd quarter valued at $496,000. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Cenovus Energy Trading Down 0.4%

CVE traded down $0.12 during trading on Friday, hitting $31.36. The company’s stock had a trading volume of 9,561,432 shares, compared to its average volume of 10,382,263. Cenovus Energy Inc has a twelve month low of $15.63 and a twelve month high of $34.16. The stock has a market cap of $57.14 billion, a PE ratio of 12.06 and a beta of 0.46. The firm’s 50 day moving average price is $31.54 and its 200-day moving average price is $28.83. 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 (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $1.11 EPS for the quarter, meeting analysts’ consensus estimates of $1.11. The business had revenue of $14.59 billion during 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%.The business’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.45 earnings per share. On average, analysts expect that Cenovus Energy Inc will post 4.04 earnings per share for the current year.

Cenovus Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th were paid a dividend of C$0.22 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.8%. Cenovus Energy’s dividend payout ratio is currently 24.23%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CVE. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Cenovus Energy in a report on Thursday, August 27th. JPMorgan Chase & Co. raised Cenovus Energy from a “neutral” rating to an “overweight” rating in a research note on Tuesday, September 8th. Royal Bank Of Canada lifted their price objective on Cenovus Energy from $47.00 to $51.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Weiss Ratings raised shares of Cenovus Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday. Finally, Scotiabank restated an “outperform” rating on shares of Cenovus Energy in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $39.00.

Cenovus Energy Profile

Cenovus Energy Inc (NYSE:CVE) is an integrated Canadian energy company headquartered in Calgary, Alberta. The company develops and produces crude oil, natural gas and natural gas liquids, with a significant focus on oil sands operations in Alberta. Its upstream activities include oil sands mining and in situ production, conventional oil and gas production, and the upgrading of heavy crude into synthetic crude oil.

Cenovus also operates in the downstream energy sector through crude oil refining, petroleum upgrading, marketing and distribution.