Sigma Planning Corp Buys New Position in Cenovus Energy Inc $CVE

Sigma Planning Corp bought a new stake in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 25,963 shares of the oil and gas company’s stock, valued at approximately $807,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Evergreen Capital Management LLC acquired a new position in shares of Cenovus Energy in the 3rd quarter worth approximately $202,000. Brookstone Capital Management bought a new stake in shares of Cenovus Energy in the 3rd quarter valued at $2,685,000. SBI Securities Co. Ltd. increased its position in shares of Cenovus Energy by 149.8% during the third quarter. SBI Securities Co. Ltd. now owns 2,336 shares of the oil and gas company’s stock worth $73,000 after buying an additional 1,401 shares during the period. Frank Rimerman Advisors LLC increased its position in shares of Cenovus Energy by 2.4% during the third quarter. Frank Rimerman Advisors LLC now owns 24,601 shares of the oil and gas company’s stock worth $765,000 after buying an additional 584 shares during the period. Finally, Penbrook Management LLC increased its position in shares of Cenovus Energy by 42.9% during the third quarter. Penbrook Management LLC now owns 42,700 shares of the oil and gas company’s stock worth $1,327,000 after buying an additional 12,820 shares during the period. Institutional investors own 51.19% of the company’s stock.

Cenovus Energy Price Performance

Cenovus Energy stock opened at $32.76 on Friday. The stock has a market capitalization of $59.51 billion, a price-to-earnings ratio of 12.60 and a beta of 0.46. Cenovus Energy Inc has a 52-week low of $15.63 and a 52-week high of $34.16. The stock’s 50 day moving average price is $32.22 and its two-hundred day moving average price is $27.39. 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 (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $1.11 EPS for the quarter, hitting the consensus estimate of $1.11. The company had revenue of $14.59 billion during the quarter, compared to the consensus estimate of $11.87 billion. Cenovus Energy had a net margin of 12.37% and a return on equity of 21.08%. The company’s quarterly revenue was up 47.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.45 EPS. On average, equities analysts predict that Cenovus Energy Inc will post 4.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CVE has been the subject of a number of analyst reports. Desjardins raised shares of Cenovus Energy to a “moderate buy” rating in a research note on Thursday, July 16th. Raymond James Financial reaffirmed an “outperform” rating on shares of Cenovus Energy in a research report on Wednesday, October 14th. UBS Group downgraded Cenovus Energy from a “buy” rating to a “hold” rating in a report on Wednesday, September 2nd. Scotiabank reiterated an “outperform” rating on shares of Cenovus Energy in a report on Monday, October 19th. Finally, JPMorgan Chase & Co. raised Cenovus Energy from a “neutral” rating to an “overweight” rating in a research report on Tuesday, September 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $39.00.

About Cenovus Energy

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.