187,920 Shares in Cenovus Energy Inc $CVE Bought by Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc. purchased a new stake in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 187,920 shares of the oil and gas company’s stock, valued at approximately $2,557,000.

A number of other large investors also recently modified their holdings of CVE. Fulton Bank N.A. increased its position in shares of Cenovus Energy by 4.4% in the second quarter. Fulton Bank N.A. now owns 19,201 shares of the oil and gas company’s stock valued at $261,000 after acquiring an additional 809 shares during the last quarter. NFP Retirement Inc. increased its position in shares of Cenovus Energy by 2.7% during the 1st quarter. NFP Retirement Inc. now owns 34,500 shares of the oil and gas company’s stock worth $480,000 after purchasing an additional 900 shares during the last quarter. SeaBridge Investment Advisors LLC raised its stake in shares of Cenovus Energy by 10.0% during the 1st quarter. SeaBridge Investment Advisors LLC now owns 11,000 shares of the oil and gas company’s stock worth $153,000 after purchasing an additional 1,000 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Cenovus Energy by 39.9% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 4,205 shares of the oil and gas company’s stock valued at $57,000 after buying an additional 1,199 shares during the last quarter. Finally, Yousif Capital Management LLC grew its stake in shares of Cenovus Energy by 8.3% in the second quarter. Yousif Capital Management LLC now owns 17,539 shares of the oil and gas company’s stock valued at $239,000 after buying an additional 1,340 shares in the last quarter. 51.19% of the stock is currently owned by institutional investors and hedge funds.

Cenovus Energy Price Performance

Cenovus Energy stock opened at $17.44 on Friday. The company has a market capitalization of $30.79 billion, a price-to-earnings ratio of 17.26 and a beta of 0.86. The company has a current ratio of 1.32, a quick ratio of 0.78 and a debt-to-equity ratio of 0.24. Cenovus Energy Inc has a 12 month low of $10.23 and a 12 month high of $18.60. The stock’s 50 day moving average is $17.05 and its 200-day moving average is $15.10.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings results on Friday, October 31st. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.12. Cenovus Energy had a return on equity of 9.06% and a net margin of 5.18%.The business had revenue of $10.87 billion during the quarter, compared to the consensus estimate of $12.51 billion. During the same period in the previous year, the company posted $0.42 EPS. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. Equities research analysts expect that Cenovus Energy Inc will post 1.49 EPS for the current year.

Cenovus Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.80 annualized dividend and a dividend yield of 4.6%. Cenovus Energy’s dividend payout ratio is 45.90%.

Wall Street Analyst Weigh In

Several analysts have issued reports on CVE shares. Raymond James Financial raised shares of Cenovus Energy from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, October 9th. UBS Group reaffirmed a “buy” rating on shares of Cenovus Energy in a report on Monday, August 25th. TD Securities reiterated a “buy” rating on shares of Cenovus Energy in a research note on Tuesday, September 30th. National Bankshares reissued an “outperform” rating on shares of Cenovus Energy in a research report on Wednesday, September 10th. Finally, Royal Bank Of Canada raised their price objective on Cenovus Energy from $25.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Four investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $21.00.

Cenovus Energy Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.