Quantbot Technologies LP acquired a new position in Cenovus Energy Inc (NYSE:CVE – Free Report) (TSE:CVE) in the second quarter, HoldingsChannel.com reports. The firm acquired 97,426 shares of the oil and gas company’s stock, valued at approximately $2,417,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in CVE. Transamerica Financial Advisors LLC boosted its stake in Cenovus Energy by 1,302.7% during the 4th quarter. Transamerica Financial Advisors LLC now owns 1,543 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 1,433 shares during the last quarter. NBC Securities Inc. raised its stake in shares of Cenovus Energy by 961.5% in the fourth quarter. NBC Securities Inc. now owns 1,656 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 1,500 shares during the last quarter. Gables Capital Management Inc. bought a new position in shares of Cenovus Energy during the second quarter valued at $35,000. Kestra Advisory Services LLC bought a new position in shares of Cenovus Energy during the fourth quarter valued at $38,000. Finally, Geneos Wealth Management Inc. lifted 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 valued at $44,000 after purchasing an additional 1,384 shares in the last quarter. 51.19% of the stock is owned by institutional investors.
Cenovus Energy Stock Performance
Shares of CVE opened at $32.99 on Monday. The firm has a market capitalization of $61.01 billion, a P/E ratio of 12.69 and a beta of 0.34. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.63 and a quick ratio of 1.04. Cenovus Energy Inc has a one year low of $15.44 and a one year high of $33.40. The business has a fifty day moving average of $27.83 and a 200 day moving average of $26.51.
Cenovus Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Cenovus Energy’s dividend payout ratio is currently 24.62%.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the company. The Goldman Sachs Group reiterated a “buy” rating on shares of Cenovus Energy in a report on Wednesday, May 13th. Scotiabank restated an “outperform” rating on shares of Cenovus Energy in a research note on Thursday, July 30th. Lake Street Capital set a $36.00 price target on shares of Cenovus Energy in a report on Wednesday, May 13th. Zacks Research lowered shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Finally, Desjardins upgraded shares of Cenovus Energy to a “moderate buy” rating in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.25.
Read Our Latest Analysis on CVE
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.
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