Cenovus Energy Inc (CVE) Short Interest Update

Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 26,032,114 shares, a growth of 25.5% from the February 28th total of 20,746,234 shares. Based on an average trading volume of 3,809,559 shares, the days-to-cover ratio is presently 6.8 days. Approximately 2.1% of the shares of the stock are sold short.

Hedge funds and other institutional investors have recently modified their holdings of the stock. ConocoPhillips bought a new position in Cenovus Energy in the 4th quarter valued at approximately $1,899,040,000. Nexus Investment Management Inc. raised its holdings in Cenovus Energy by 131.7% in the 4th quarter. Nexus Investment Management Inc. now owns 1,210,050 shares of the oil and gas company’s stock valued at $11,098,000 after buying an additional 687,840 shares during the last quarter. Legal & General Group Plc raised its holdings in Cenovus Energy by 7.4% in the 3rd quarter. Legal & General Group Plc now owns 4,990,018 shares of the oil and gas company’s stock valued at $49,921,000 after buying an additional 343,344 shares during the last quarter. Cerebellum GP LLC bought a new position in Cenovus Energy in the 4th quarter valued at approximately $1,627,000. Finally, Timber Hill LLC raised its holdings in Cenovus Energy by 169.2% in the 4th quarter. Timber Hill LLC now owns 30,616 shares of the oil and gas company’s stock valued at $280,000 after buying an additional 19,242 shares during the last quarter. Institutional investors and hedge funds own 74.40% of the company’s stock.

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Shares of NYSE CVE opened at $8.54 on Friday. The company has a market capitalization of $10,493.87, a P/E ratio of -427.00, a price-to-earnings-growth ratio of 11.72 and a beta of 0.86. Cenovus Energy has a 1 year low of $6.76 and a 1 year high of $13.32. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.13 and a quick ratio of 0.82.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Thursday, February 15th. The oil and gas company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.45). The business 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 quarter last year, the business earned $0.39 EPS. analysts forecast that Cenovus Energy will post 0.12 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Thursday, March 15th were issued a $0.0398 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Wednesday, March 14th. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.04. Cenovus Energy’s dividend payout ratio (DPR) is -800.00%.

A number of research firms have recently commented on CVE. Zacks Investment Research cut shares of Cenovus Energy from a “hold” rating to a “sell” rating in a report on Monday, March 5th. ValuEngine cut 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. Desjardins reissued a “hold” rating on shares of Cenovus Energy in a report on Friday, January 12th. Finally, AltaCorp Capital raised shares of Cenovus Energy from a “sector perform” rating to an “outperform” rating in a report on Friday, February 16th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $14.42.

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About Cenovus Energy

Cenovus Energy Inc is a Canada-based integrated oil company. It operates in the business of developing, producing and marketing crude oil, Natural Gas Liquids (NGLs) and natural gas in Canada. The Company also conducts marketing activities and owns refining interests in the United States (U.S.). Its segments include: Oil Sands, which includes the development and production of bitumen and natural gas in northeast Alberta; Conventional, which includes the development and production of conventional crude oil, NGLs and natural gas in Alberta and Saskatchewan, including the heavy oil assets at Pelican Lake, the carbon dioxide (CO2) enhanced oil recovery (EOR) project at Weyburn and emerging tight oil opportunities; Refining and Marketing, which includes transporting and selling crude oil and natural gas and joint ownership of refineries in the U.S., as well as Corporate and Eliminations.

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