Cenovus Energy (CVE) Short Interest Update

Cenovus Energy (NYSE:CVE) (TSE:CVE) saw a large growth in short interest in the month of March. As of March 29th, there was short interest totalling 28,927,308 shares, a growth of 11.1% from the March 15th total of 26,032,114 shares. Based on an average daily trading volume, of 4,233,489 shares, the short-interest ratio is currently 6.8 days. Currently, 2.4% of the company’s shares are sold short.

CVE opened at $9.91 on Tuesday. The firm has a market capitalization of $12,410.78, a P/E ratio of -495.50, a P/E/G ratio of 12.95 and a beta of 0.71. Cenovus Energy has a 12 month low of $6.76 and a 12 month high of $11.52. The company has a current ratio of 1.13, a quick ratio of 0.82 and a debt-to-equity ratio of 0.48.

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Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Thursday, February 15th. The oil and gas company reported ($0.35) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.45). The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.95 billion. Cenovus Energy had a net margin of 18.92% and a return on equity of 0.53%. During the same period in the prior year, the firm posted $0.39 earnings per share. equities analysts forecast that Cenovus Energy will post 0.13 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Thursday, March 15th were given a $0.0398 dividend. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Wednesday, March 14th. Cenovus Energy’s payout ratio is currently -800.00%.

Several brokerages have recently issued reports on CVE. Zacks Investment Research lowered shares of Cenovus Energy from a “hold” rating to a “sell” rating in a report on Monday, March 5th. ValuEngine lowered shares of Cenovus Energy from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. Tudor Pickering raised shares of Cenovus Energy from a “hold” rating to a “buy” rating in a report on Wednesday, March 28th. Bank of America began coverage on shares of Cenovus Energy in a report on Thursday, April 5th. They issued a “neutral” rating and a $9.00 price target for the company. Finally, Morgan Stanley cut their price objective on shares of Cenovus Energy from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Monday. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $13.36.

A number of large investors have recently modified their holdings of the business. Stifel Financial Corp lifted its position in Cenovus Energy by 29.1% during the 3rd quarter. Stifel Financial Corp now owns 29,426 shares of the oil and gas company’s stock worth $293,000 after buying an additional 6,626 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Cenovus Energy by 5.0% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 165,600 shares of the oil and gas company’s stock worth $1,327,000 after buying an additional 7,900 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Cenovus Energy by 43.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 34,086 shares of the oil and gas company’s stock worth $391,000 after buying an additional 10,292 shares in the last quarter. D.A. Davidson & CO. lifted its position in Cenovus Energy by 20.8% during the 4th quarter. D.A. Davidson & CO. now owns 66,797 shares of the oil and gas company’s stock worth $610,000 after buying an additional 11,479 shares in the last quarter. Finally, First Allied Advisory Services Inc. bought a new stake in Cenovus Energy during the 3rd quarter worth about $125,000. 74.40% of the stock is currently owned by hedge funds and other institutional investors.

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Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada and the United States. The company's Oil Sands segment develops and produces bitumen and natural gas in northeast Alberta. This segment's bitumen assets include Foster Creek, Christina Lake, and Narrows Lake, as well as projects in the early stages of development, such as Telephone Lake.

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