Traders Purchase High Volume of Cenovus Energy Call Options (NYSE:CVE)

Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) was the target of unusually large options trading activity on Tuesday. Traders acquired 14,351 call options on the stock. This is an increase of approximately 142% compared to the typical daily volume of 5,921 call options.

Cenovus Energy Stock Down 0.5 %

NYSE:CVE opened at $16.63 on Thursday. The stock’s fifty day moving average price is $18.70 and its two-hundred day moving average price is $19.45. The company has a market cap of $30.91 billion, a price-to-earnings ratio of 9.24 and a beta of 2.05. Cenovus Energy has a 52-week low of $14.69 and a 52-week high of $21.90. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.00 and a current ratio of 1.66.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings results on Thursday, August 1st. The oil and gas company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.13). The firm had revenue of $10.88 billion during the quarter, compared to the consensus estimate of $9.78 billion. Cenovus Energy had a net margin of 8.56% and a return on equity of 16.61%. On average, analysts anticipate that Cenovus Energy will post 1.85 EPS for the current year.

Cenovus Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a dividend of $0.132 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Friday, September 13th. Cenovus Energy’s dividend payout ratio (DPR) is 29.44%.

Analyst Ratings Changes

Several brokerages have recently commented on CVE. Scotiabank reduced their target price on Cenovus Energy from $35.00 to $34.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. StockNews.com cut Cenovus Energy from a “strong-buy” rating to a “buy” rating in a report on Friday, July 26th. Finally, Raymond James raised Cenovus Energy to a “moderate buy” rating in a report on Tuesday, May 28th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $30.67.

Hedge Funds Weigh In On Cenovus Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Banque Cantonale Vaudoise bought a new stake in shares of Cenovus Energy during the 1st quarter valued at $30,000. Wolff Wiese Magana LLC grew its stake in shares of Cenovus Energy by 71.4% during the first quarter. Wolff Wiese Magana LLC now owns 2,400 shares of the oil and gas company’s stock worth $48,000 after purchasing an additional 1,000 shares during the period. Massmutual Trust Co. FSB ADV increased its holdings in Cenovus Energy by 124.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,558 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 1,417 shares during the last quarter. American National Bank acquired a new position in Cenovus Energy in the first quarter valued at about $52,000. Finally, Lindbrook Capital LLC lifted 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 period. 51.19% of the stock is owned by 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.