Elevation Point Wealth Partners LLC acquired a new stake in Cenovus Energy Inc (NYSE:CVE – Free Report) (TSE:CVE) during the second quarter, according to its most recent filing with the SEC. The firm acquired 29,834 shares of the oil and gas company’s stock, valued at approximately $740,000.
Other institutional investors also recently bought and sold shares of the company. Gables Capital Management Inc. acquired a new stake in shares of Cenovus Energy in the 2nd quarter worth $35,000. Transamerica Financial Advisors LLC increased its stake in shares of Cenovus Energy by 1,302.7% during the fourth quarter. Transamerica Financial Advisors LLC now owns 1,543 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 1,433 shares during the period. NBC Securities Inc. increased its stake in shares of Cenovus Energy by 961.5% during the fourth quarter. NBC Securities Inc. now owns 1,656 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 1,500 shares during the period. Kestra Advisory Services LLC purchased a new position in Cenovus Energy during the fourth quarter worth about $38,000. Finally, Allworth Financial LP acquired a new stake in Cenovus Energy in the second quarter valued at about $68,000. 51.19% of the stock is owned by institutional investors and hedge funds.
Cenovus Energy Price Performance
NYSE:CVE opened at $32.17 on Tuesday. Cenovus Energy Inc has a 12-month low of $15.63 and a 12-month high of $33.40. The firm has a market cap of $59.50 billion, a price-to-earnings ratio of 12.37 and a beta of 0.34. The company’s 50-day moving average is $27.93 and its two-hundred day moving average is $26.60. The company has a current ratio of 1.63, a quick ratio of 1.04 and a debt-to-equity ratio of 0.25.
Cenovus Energy Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.7%. The ex-dividend date is Tuesday, September 15th. Cenovus Energy’s dividend payout ratio is presently 24.62%.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on CVE. Desjardins raised Cenovus Energy to a “moderate buy” rating in a research note on Thursday, July 16th. Lake Street Capital set a $36.00 price objective on Cenovus Energy in a report on Wednesday, May 13th. Raymond James Financial cut Cenovus Energy from a “strong-buy” rating to an “outperform” rating in a research report on Wednesday, May 6th. Wall Street Zen raised Cenovus Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Finally, Royal Bank Of Canada boosted their target price on shares of Cenovus Energy from $47.00 to $51.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.25.
Get Our Latest Report on Cenovus Energy
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.
Featured Stories
- Five stocks we like better than Cenovus Energy
- Visa Just Put Hims & Hers in the Penalty Box—Here’s Why It Matters
- Treasury Yields Are Surging Again: 3 Stocks That Could Feel the Pain
- Snowflake Could Be Headed for New Highs Despite Insider Selling
- MongoDB Is Surging—And the Next Catalyst Is Almost Here
Want to see what other hedge funds are holding CVE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cenovus Energy Inc (NYSE:CVE – Free Report) (TSE:CVE).
Receive News & Ratings for Cenovus Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cenovus Energy and related companies with MarketBeat.com's FREE daily email newsletter.
