Cenovus Energy Inc. (NYSE:CVE) Shares Purchased by Truist Financial Corp

Truist Financial Corp increased its position in shares of Cenovus Energy Inc. (NYSE:CVEGet Rating) (TSE:CVE) by 43.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,518 shares of the oil and gas company’s stock after acquiring an additional 4,392 shares during the quarter. Truist Financial Corp’s holdings in Cenovus Energy were worth $242,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. CWM LLC boosted its position in Cenovus Energy by 239.4% during the first quarter. CWM LLC now owns 1,680 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 1,185 shares during the last quarter. Blume Capital Management Inc. boosted its position in Cenovus Energy by 108.2% during the fourth quarter. Blume Capital Management Inc. now owns 4,810 shares of the oil and gas company’s stock worth $59,000 after acquiring an additional 2,500 shares during the last quarter. AlphaCentric Advisors LLC acquired a new stake in Cenovus Energy during the fourth quarter worth approximately $99,000. SeaBridge Investment Advisors LLC acquired a new stake in Cenovus Energy during the fourth quarter worth approximately $123,000. Finally, Meixler Investment Management Ltd. acquired a new position in shares of Cenovus Energy in the 4th quarter valued at $145,000. Institutional investors and hedge funds own 48.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CVE. The Goldman Sachs Group lifted their price target on shares of Cenovus Energy from $21.00 to $24.00 and gave the company a “buy” rating in a report on Friday, May 20th. National Bank Financial decreased their price target on shares of Cenovus Energy from C$41.00 to C$38.00 in a report on Monday, July 18th. Scotiabank lifted their price target on shares of Cenovus Energy from C$25.00 to C$34.00 in a report on Wednesday, June 8th. CIBC lifted their price target on shares of Cenovus Energy from C$28.00 to C$30.00 in a report on Thursday, April 14th. Finally, StockNews.com upgraded shares of Cenovus Energy from a “hold” rating to a “buy” rating in a report on Friday, April 29th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $26.13.

Cenovus Energy Stock Performance

Cenovus Energy stock opened at $19.08 on Friday. Cenovus Energy Inc. has a 12-month low of $7.20 and a 12-month high of $24.91. The company has a market capitalization of $37.20 billion, a price-to-earnings ratio of 25.11 and a beta of 2.46. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.60 and a quick ratio of 1.09. The firm’s fifty day moving average price is $19.94 and its 200 day moving average price is $17.75.

Cenovus Energy (NYSE:CVEGet Rating) (TSE:CVE) last released its quarterly earnings results on Wednesday, April 27th. The oil and gas company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.21). Cenovus Energy had a return on equity of 14.73% and a net margin of 3.56%. The firm had revenue of $14.18 billion for the quarter, compared to analysts’ expectations of $10.69 billion. On average, research analysts forecast that Cenovus Energy Inc. will post 3.02 EPS for the current fiscal year.

Cenovus Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be paid a dividend of $0.0814 per share. This represents a $0.33 annualized dividend and a yield of 1.71%. The ex-dividend date is Wednesday, September 14th. Cenovus Energy’s dividend payout ratio (DPR) is 43.42%.

About Cenovus Energy

(Get Rating)

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada, the United States, and the Asia Pacific region. The company operates through Oil Sands, Conventional, Offshore, Canadian Manufacturing, U.S. Manufacturing, and Retail segments.

Featured Stories

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:CVEGet Rating) (TSE:CVE).

Institutional Ownership by Quarter for Cenovus Energy (NYSE: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.