Raymond James & Associates Buys 19,566 Shares of Cenovus Energy Inc. (NYSE:CVE)

Raymond James & Associates boosted its position in shares of Cenovus Energy Inc. (NYSE:CVE – Get Rating) (TSE:CVE) by 6.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 309,768 shares of the oil and gas company’s stock after purchasing an additional 19,566 shares during the period. Raymond James & Associates’ holdings in Cenovus Energy were worth $6,013,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CVE. Belpointe Asset Management LLC bought a new stake in Cenovus Energy during the 4th quarter worth approximately $51,000. Fiduciary Alliance LLC bought a new stake in Cenovus Energy during the 4th quarter worth about $63,000. Macquarie Group Ltd. acquired a new position in shares of Cenovus Energy during the second quarter worth approximately $80,000. Covestor Ltd bought a new stake in shares of Cenovus Energy during the first quarter valued at approximately $88,000. Finally, Keebeck Alpha LP acquired a new stake in shares of Cenovus Energy in the third quarter valued at approximately $174,000. Institutional investors and hedge funds own 49.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CVE shares. Scotiabank lowered Cenovus Energy from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, April 14th. BMO Capital Markets dropped their price target on shares of Cenovus Energy from C$33.00 to C$32.00 in a research note on Friday, February 17th. Finally, StockNews.com assumed coverage on shares of Cenovus Energy in a research note on Thursday. They issued a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Cenovus Energy presently has an average rating of “Hold” and an average price target of $32.00.

Cenovus Energy Trading Up 0.5 %

CVE opened at $16.51 on Monday. The firm’s fifty day moving average is $16.82 and its two-hundred day moving average is $18.40. The firm has a market cap of $31.46 billion, a PE ratio of 7.94 and a beta of 2.24. Cenovus Energy Inc. has a twelve month low of $14.44 and a twelve month high of $24.91. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.94 and a current ratio of 1.63.

Cenovus Energy (NYSE:CVE – Get Rating) (TSE:CVE) last released its quarterly earnings results on Thursday, February 16th. The oil and gas company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.19). Cenovus Energy had a return on equity of 20.38% and a net margin of 8.75%. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $9.77 billion. Equities research analysts anticipate that Cenovus Energy Inc. will post 1.91 EPS for the current year.

Cenovus Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be paid a dividend of $0.104 per share. This represents a $0.42 dividend on an annualized basis and a yield of 2.52%. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, June 14th. Cenovus Energy’s dividend payout ratio is presently 14.90%.

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.