25,963 Shares of Cenovus Energy Inc $CVE Acquired by Sigma Planning Corp

Sigma Planning Corp bought a new stake in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 25,963 shares of the oil and gas company’s stock, valued at approximately $807,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Orion Capital Management LLC bought a new position in Cenovus Energy in the second quarter worth approximately $25,000. Versant Capital Management Inc increased its holdings in shares of Cenovus Energy by 990.9% during the third quarter. Versant Capital Management Inc now owns 1,080 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 981 shares in the last quarter. Gables Capital Management Inc. bought a new stake in shares of Cenovus Energy during the second quarter valued at approximately $35,000. GK Wealth Management LLC bought a new stake in shares of Cenovus Energy during the third quarter valued at approximately $59,000. Finally, Allworth Financial LP acquired a new position in shares of Cenovus Energy during the second quarter worth approximately $68,000. 51.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Wall Street Zen raised shares of Cenovus Energy from a “buy” rating to a “strong-buy” rating in a research report on Sunday, October 11th. Desjardins upgraded shares of Cenovus Energy to a “moderate buy” rating in a research note on Thursday, July 16th. Jefferies Financial Group restated a “buy” rating on shares of Cenovus Energy in a report on Sunday, October 18th. Royal Bank Of Canada upped their price objective on shares of Cenovus Energy from $47.00 to $51.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Cenovus Energy in a research note on Wednesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $39.00.

Cenovus Energy Price Performance

CVE stock opened at $32.76 on Friday. The company has a market capitalization of $59.51 billion, a P/E ratio of 12.60 and a beta of 0.46. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.04 and a current ratio of 1.63. Cenovus Energy Inc has a 52-week low of $15.63 and a 52-week high of $34.16. The business has a 50-day simple moving average of $32.22 and a two-hundred day simple moving average of $27.39.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last issued its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $1.11 EPS for the quarter, hitting analysts’ consensus estimates of $1.11. The firm had revenue of $14.59 billion during the quarter, compared to analyst estimates of $11.87 billion. Cenovus Energy had a return on equity of 21.08% and a net margin of 12.37%. The company’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.45 EPS. Research analysts expect that Cenovus Energy Inc will post 4.12 EPS for the current fiscal year.

Cenovus Energy Company Profile

Cenovus Energy Inc (NYSE:CVE) is an integrated Canadian energy company engaged in the exploration, development, production, transportation, and marketing of crude oil and natural gas. Its upstream operations include oil sands projects in northern Alberta, as well as conventional oil and natural gas assets in Canada.

The company also operates oil sands upgraders, refineries, and related infrastructure. Through its downstream business, Cenovus produces and markets refined petroleum products, including gasoline, diesel, jet fuel, asphalt, and other products.