Traders Buy Large Volume of Cenovus Energy Call Options (NYSE:CVE)

Cenovus Energy Inc. (NYSE:CVEGet Free Report) (TSE:CVE) saw some unusual options trading on Tuesday. Traders acquired 21,010 call options on the stock. This is an increase of approximately 83% compared to the average volume of 11,496 call options.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Quilter Plc bought a new position in shares of Cenovus Energy during the first quarter valued at about $866,944,000. NBC Securities Inc. bought a new position in shares of Cenovus Energy during the 3rd quarter valued at about $34,000. Financial Perspectives Inc purchased a new stake in Cenovus Energy during the 4th quarter valued at about $28,000. Headlands Technologies LLC purchased a new stake in Cenovus Energy in the 4th quarter worth approximately $33,000. Finally, KB Financial Partners LLC purchased a new position in shares of Cenovus Energy during the first quarter valued at about $40,000. Institutional investors and hedge funds own 50.01% of the company’s stock.

Cenovus Energy Price Performance

Shares of CVE opened at $19.07 on Wednesday. The firm has a market capitalization of $35.62 billion, a PE ratio of 12.07 and a beta of 2.13. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.56 and a quick ratio of 0.91. Cenovus Energy has a fifty-two week low of $14.69 and a fifty-two week high of $21.37. The company’s 50-day moving average is $16.77 and its 200-day moving average is $17.96.

Cenovus Energy (NYSE:CVEGet Free Report) (TSE:CVE) last posted its quarterly earnings data on Thursday, February 15th. The oil and gas company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. The firm had revenue of $9.65 billion for the quarter, compared to analysts’ expectations of $9.73 billion. Cenovus Energy had a return on equity of 14.85% and a net margin of 7.88%. During the same quarter last year, the business earned $0.29 EPS. Equities analysts forecast that Cenovus Energy will post 1.73 EPS for the current year.

Cenovus Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 15th will be issued a dividend of $0.1033 per share. This represents a $0.41 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Thursday, March 14th. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.10. Cenovus Energy’s dividend payout ratio is 25.95%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $28.00 target price on shares of Cenovus Energy in a research note on Friday, January 26th. UBS Group upgraded shares of Cenovus Energy from a “neutral” rating to a “buy” rating in a research note on Friday, February 23rd. Finally, lowered Cenovus Energy from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Cenovus Energy has an average rating of “Moderate Buy” and an average target price of $25.00.

Check Out Our Latest Analysis on CVE

About Cenovus Energy

(Get Free Report)

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.

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