Callan Family Office LLC Invests $592,000 in Cenovus Energy Inc $CVE

Callan Family Office LLC acquired 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 Form 13F filing with the SEC. The fund acquired 23,877 shares of the oil and gas company’s stock, valued at approximately $592,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Gables Capital Management Inc. bought a new stake in Cenovus Energy during the second quarter valued at about $35,000. Transamerica Financial Advisors LLC raised its stake in shares of Cenovus Energy by 1,302.7% in the fourth quarter. Transamerica Financial Advisors LLC now owns 1,543 shares of the oil and gas company’s stock worth $26,000 after buying an additional 1,433 shares during the period. NBC Securities Inc. raised its stake in shares of Cenovus Energy by 961.5% in the fourth quarter. NBC Securities Inc. now owns 1,656 shares of the oil and gas company’s stock worth $28,000 after buying an additional 1,500 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of Cenovus Energy during the 4th quarter valued at about $38,000. Finally, Allworth Financial LP purchased a new position in shares of Cenovus Energy during the 2nd quarter valued at about $68,000. 51.19% of the stock is currently owned by hedge funds and other institutional investors.

Cenovus Energy Trading Down 4.2%

Shares of Cenovus Energy stock opened at $30.83 on Wednesday. The firm has a market cap of $57.02 billion, a price-to-earnings ratio of 11.86 and a beta of 0.34. The business has a 50-day moving average price of $28.02 and a 200-day moving average price of $26.67. The company has a quick ratio of 1.04, a current ratio of 1.63 and a debt-to-equity ratio of 0.25. Cenovus Energy Inc has a twelve month low of $15.63 and a twelve month high of $33.40.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its earnings results on Wednesday, July 29th. The oil and gas company reported $1.11 EPS for the quarter, hitting 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%.During the same period in the previous year, the business earned $0.45 earnings per share. The firm’s revenue for the quarter was up 47.9% on a year-over-year basis. Equities research analysts anticipate that Cenovus Energy Inc will post 3.2 EPS for the current fiscal year.

Cenovus Energy Dividend Announcement

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

Analyst Ratings Changes

Several research firms recently issued reports on CVE. Raymond James Financial lowered shares of Cenovus Energy from a “strong-buy” rating to an “outperform” rating in a report on Wednesday, May 6th. Morgan Stanley reaffirmed an “overweight” rating on shares of Cenovus Energy in a report on Wednesday, August 19th. The Goldman Sachs Group reiterated a “buy” rating on shares of Cenovus Energy in a research report on Wednesday, May 13th. Lake Street Capital set a $36.00 price objective on shares of Cenovus Energy in a research note on Wednesday, May 13th. Finally, Weiss Ratings raised shares of Cenovus Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.25.

About Cenovus Energy

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.