USS Investment Management Ltd acquired a new position in Cenovus Energy Inc (NYSE:CVE – Free Report) (TSE:CVE) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 32,253 shares of the oil and gas company’s stock, valued at approximately $856,000.
A number of other large investors have also recently made changes to their positions in CVE. Jones Financial Companies Lllp lifted its holdings in shares of Cenovus Energy by 574.8% in the 1st quarter. Jones Financial Companies Lllp now owns 21,607 shares of the oil and gas company’s stock valued at $301,000 after acquiring an additional 18,405 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Cenovus Energy by 6.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 747,472 shares of the oil and gas company’s stock worth $10,397,000 after acquiring an additional 44,125 shares during the last quarter. Prudential Financial Inc. bought a new stake in Cenovus Energy during the second quarter worth approximately $525,000. EverSource Wealth Advisors LLC raised its position in Cenovus Energy by 57.8% during the second quarter. EverSource Wealth Advisors LLC now owns 4,912 shares of the oil and gas company’s stock valued at $67,000 after purchasing an additional 1,800 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Cenovus Energy during the second quarter valued at approximately $495,000. 51.19% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have recently commented on CVE shares. Raymond James Financial cut Cenovus Energy from a “strong-buy” rating to an “outperform” rating in a report on Wednesday, May 6th. Zacks Research downgraded Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Weiss Ratings downgraded Cenovus Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, June 18th. Scotiabank raised shares of Cenovus Energy to a “strong-buy” rating in a research note on Friday, June 26th. Finally, UBS Group reiterated a “buy” rating on shares of Cenovus Energy in a research report on Thursday, April 9th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Cenovus Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.25.
Cenovus Energy Stock Down 0.0%
NYSE:CVE opened at $24.64 on Friday. Cenovus Energy Inc has a twelve month low of $13.85 and a twelve month high of $32.07. The company has a market cap of $45.85 billion, a price-to-earnings ratio of 13.54 and a beta of 0.34. The stock has a fifty day simple moving average of $27.86 and a 200-day simple moving average of $23.67. The company has a current ratio of 1.57, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33.
Cenovus Energy (NYSE:CVE – Get Free Report) (TSE:CVE) last posted its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. The firm had revenue of $10.79 billion for the quarter, compared to analysts’ expectations of $9.47 billion. Cenovus Energy had a net margin of 9.53% and a return on equity of 15.29%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 earnings per share. Analysts anticipate that Cenovus Energy Inc will post 3.02 EPS for the current year.
Cenovus Energy Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a $0.22 dividend. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.88 annualized dividend and a yield of 3.6%. Cenovus Energy’s dividend payout ratio is presently 35.16%.
Cenovus Energy 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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