Cenovus Energy Sees Unusually High Options Volume (NYSE:CVE)

Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) saw unusually large options trading activity on Monday. Traders acquired 11,763 call options on the company. This is an increase of 74% compared to the typical daily volume of 6,753 call options.

Cenovus Energy Trading Up 0.8 %

CVE traded up $0.15 during trading on Monday, hitting $19.81. 3,058,370 shares of the stock were exchanged, compared to its average volume of 9,738,051. Cenovus Energy has a 1 year low of $14.69 and a 1 year high of $21.90. The firm has a market cap of $36.83 billion, a price-to-earnings ratio of 10.94 and a beta of 2.07. The firm has a 50 day simple moving average of $19.98 and a 200 day simple moving average of $18.48. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.01 and a current ratio of 1.70.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.35 by $0.11. Cenovus Energy had a return on equity of 16.53% and a net margin of 8.73%. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.98 billion. As a group, equities analysts expect that Cenovus Energy will post 2.04 EPS for the current year.

Cenovus Energy Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were given a $0.0981 dividend. The ex-dividend date was Thursday, May 16th. This represents a $1.18 annualized dividend and a dividend yield of 5.94%. Cenovus Energy’s payout ratio is presently 28.89%.

Analyst Upgrades and Downgrades

CVE has been the subject of a number of recent analyst reports. Raymond James upgraded Cenovus Energy to a “moderate buy” rating in a report on Tuesday, May 28th. StockNews.com lowered shares of Cenovus Energy from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Finally, Morgan Stanley upped their price target on shares of Cenovus Energy from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $29.00.

Hedge Funds Weigh In On Cenovus Energy

Institutional investors have recently bought and sold shares of the business. SVB Wealth LLC raised its stake in shares of Cenovus Energy by 2.6% during the 1st quarter. SVB Wealth LLC now owns 19,710 shares of the oil and gas company’s stock worth $394,000 after acquiring an additional 507 shares in the last quarter. Lindbrook Capital LLC raised its stake in Cenovus Energy by 17.6% in the first quarter. Lindbrook Capital LLC now owns 4,240 shares of the oil and gas company’s stock valued at $85,000 after buying an additional 636 shares during the last quarter. Fifth Third Bancorp boosted its stake in Cenovus Energy by 80.3% in the 1st quarter. Fifth Third Bancorp now owns 1,453 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 647 shares in the last quarter. Spire Wealth Management boosted its stake in Cenovus Energy by 41.9% in the 4th quarter. Spire Wealth Management now owns 2,305 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 681 shares in the last quarter. Finally, Stratos Wealth Partners LTD. grew its position in Cenovus Energy by 0.5% during the 4th quarter. Stratos Wealth Partners LTD. now owns 156,345 shares of the oil and gas company’s stock worth $2,603,000 after purchasing an additional 774 shares during the last quarter. 51.19% of the stock is owned by hedge funds and other institutional investors.

About Cenovus Energy

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.