Zurcher Kantonalbank Zurich Cantonalbank Buys 102,918 Shares of Cenovus Energy Inc $CVE

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 12.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 928,129 shares of the oil and gas company’s stock after purchasing an additional 102,918 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cenovus Energy were worth $15,722,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Financial Management Professionals Inc. bought a new position in shares of Cenovus Energy during the fourth quarter worth approximately $25,000. Geneos Wealth Management Inc. increased its holdings in shares of Cenovus Energy by 74.1% during the second quarter. Geneos Wealth Management Inc. now owns 3,253 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 1,384 shares during the period. Advisory Services Network LLC bought a new position in shares of Cenovus Energy during the third quarter worth approximately $50,000. Allworth Financial LP increased its holdings in shares of Cenovus Energy by 32.2% during the third quarter. Allworth Financial LP now owns 3,025 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 737 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in shares of Cenovus Energy by 24.4% during the fourth quarter. Farther Finance Advisors LLC now owns 3,307 shares of the oil and gas company’s stock worth $56,000 after purchasing an additional 649 shares during the period. 51.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

CVE has been the topic of several recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cenovus Energy in a report on Tuesday, January 27th. Veritas raised shares of Cenovus Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, March 10th. The Goldman Sachs Group raised their target price on shares of Cenovus Energy from $22.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. UBS Group reiterated a “buy” rating on shares of Cenovus Energy in a research report on Thursday, April 9th. Finally, Royal Bank Of Canada increased their price target on shares of Cenovus Energy from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 18th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $29.67.

Cenovus Energy Stock Performance

NYSE CVE opened at $25.97 on Thursday. The company has a current ratio of 1.57, a quick ratio of 1.04 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $48.69 billion, a price-to-earnings ratio of 16.97 and a beta of 0.34. The firm’s 50 day simple moving average is $24.27 and its 200 day simple moving average is $20.05. Cenovus Energy Inc has a 1 year low of $11.60 and a 1 year high of $27.65.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings results on Thursday, February 19th. The oil and gas company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.08. The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $10.89 billion. Cenovus Energy had a net margin of 7.92% and a return on equity of 13.25%. During the same quarter last year, the business posted $0.07 EPS. As a group, research analysts expect that Cenovus Energy Inc will post 2.28 earnings per share for the current fiscal year.

Cenovus Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were given a dividend of $0.20 per share. The ex-dividend date was Friday, March 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.1%. Cenovus Energy’s dividend payout ratio (DPR) is currently 38.56%.

Cenovus Energy Company Profile

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.