Fulton Bank N.A. Buys 3,411 Shares of Cenovus Energy Inc. (NYSE:CVE)

Fulton Bank N.A. increased its stake in Cenovus Energy Inc. (NYSE:CVE – Get Rating) (TSE:CVE) by 21.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,562 shares of the oil and gas company’s stock after buying an additional 3,411 shares during the quarter. Fulton Bank N.A.’s holdings in Cenovus Energy were worth $379,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CVE. SeaCrest Wealth Management LLC bought a new stake in shares of Cenovus Energy during the second quarter worth $34,000. Ronald Blue Trust Inc. bought a new stake in shares of Cenovus Energy during the second quarter worth $35,000. CWM LLC raised its holdings in shares of Cenovus Energy by 27.2% in the third quarter. CWM LLC now owns 2,697 shares of the oil and gas company’s stock valued at $41,000 after acquiring an additional 577 shares in the last quarter. Macquarie Group Ltd. bought a new stake in shares of Cenovus Energy in the second quarter valued at about $80,000. Finally, Covestor Ltd bought a new stake in shares of Cenovus Energy in the first quarter valued at about $88,000. 49.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CVE. StockNews.com began coverage on Cenovus Energy in a report on Thursday. They issued a “hold” rating for the company. The Goldman Sachs Group downgraded Cenovus Energy from a “buy” rating to a “neutral” rating and set a $23.00 price objective for the company. in a report on Monday, November 21st. BMO Capital Markets decreased their price objective on Cenovus Energy from C$33.00 to C$32.00 in a report on Friday, February 17th. CIBC decreased their price objective on Cenovus Energy from C$32.00 to C$31.00 in a report on Tuesday, January 17th. Finally, Raymond James lifted their target price on Cenovus Energy from C$32.00 to C$33.00 in a research note on Wednesday, December 7th.

Cenovus Energy Price Performance

CVE opened at $15.53 on Friday. Cenovus Energy Inc. has a 1 year low of $14.44 and a 1 year high of $24.91. The firm has a market capitalization of $29.62 billion, a PE ratio of 6.31 and a beta of 2.21. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.55 and a quick ratio of 1.01. The business’s 50-day moving average is $18.72 and its two-hundred day moving average is $18.75.

Cenovus Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be paid a dividend of $0.079 per share. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.03%. Cenovus Energy’s payout ratio is presently 12.60%.

About Cenovus Energy

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Cenovus Energy, Inc is a Canadian-based integrated energy company, which engages in the provision of gas and oil. It operates through the following segments: Oil Sands, Conventional, Offshore, Canadian Manufacturing, U.S. Manufacturing, and Corporate and Eliminations. The Oil Sands segment is involved in the development and production of bitumen and heavy oil in northern Alberta and Saskatchewan.