Stock 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 on Monday. Traders bought 11,763 call options on the company. This represents an increase of 74% compared to the typical daily volume of 6,753 call options.

Cenovus Energy Stock Up 0.8 %

Shares of CVE stock traded up $0.15 on Monday, hitting $19.81. 3,058,370 shares of the stock were exchanged, compared to its average volume of 9,738,051. The company has a current ratio of 1.70, a quick ratio of 1.01 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $36.83 billion, a P/E ratio of 10.94 and a beta of 2.07. Cenovus Energy has a fifty-two week low of $14.69 and a fifty-two week high of $21.90. The business has a 50-day moving average of $19.98 and a 200 day moving average of $18.48.

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

Cenovus Energy Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently issued reports on CVE shares. StockNews.com cut shares of Cenovus Energy from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Raymond James upgraded shares of Cenovus Energy to a “moderate buy” rating in a research note on Tuesday, May 28th. Finally, Morgan Stanley upped their price objective on Cenovus Energy from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $29.00.

Institutional Investors Weigh In On Cenovus Energy

Hedge funds have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale boosted its holdings in shares of Cenovus Energy by 47.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 685,761 shares of the oil and gas company’s stock worth $13,536,000 after buying an additional 220,761 shares during the period. Boston Partners grew its position in shares of Cenovus Energy by 29.0% in the first quarter. Boston Partners now owns 37,540,511 shares of the oil and gas company’s stock valued at $750,435,000 after purchasing an additional 8,438,979 shares during the last quarter. Cetera Advisors LLC increased its stake in shares of Cenovus Energy by 5.2% during the first quarter. Cetera Advisors LLC now owns 16,347 shares of the oil and gas company’s stock worth $327,000 after purchasing an additional 801 shares during the period. Atria Investments Inc acquired a new stake in Cenovus Energy during the 1st quarter worth approximately $1,482,000. Finally, Virtu Financial LLC bought a new stake in Cenovus Energy in the 1st quarter valued at $1,048,000. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Cenovus Energy Company Profile

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.