GHP Investment Advisors Inc. Buys Shares of 2,586 Cenovus Energy Inc. (NYSE:CVE)

GHP Investment Advisors Inc. purchased a new stake in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 2,586 shares of the oil and gas company’s stock, valued at approximately $43,000.

A number of other institutional investors have also made changes to their positions in CVE. NBC Securities Inc. bought a new stake in shares of Cenovus Energy in the 3rd quarter valued at approximately $34,000. KB Financial Partners LLC bought a new stake in shares of Cenovus Energy in the 1st quarter valued at approximately $40,000. CWM LLC increased its holdings in shares of Cenovus Energy by 19.2% in the 3rd quarter. CWM LLC now owns 3,336 shares of the oil and gas company’s stock valued at $69,000 after acquiring an additional 537 shares during the last quarter. Operose Advisors LLC bought a new stake in shares of Cenovus Energy in the 3rd quarter valued at approximately $79,000. Finally, Macquarie Group Ltd. bought a new stake in shares of Cenovus Energy in the 2nd quarter valued at approximately $80,000. 51.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Royal Bank of Canada restated an “outperform” rating and set a $28.00 price objective on shares of Cenovus Energy in a research note on Friday, January 26th. StockNews.com upgraded Cenovus Energy from a “hold” rating to a “buy” rating in a research note on Thursday. Morgan Stanley upped their price objective on Cenovus Energy from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Finally, UBS Group upgraded Cenovus Energy from a “neutral” rating to a “buy” rating in a research note on Friday, February 23rd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $26.67.

Cenovus Energy Trading Down 0.7 %

NYSE:CVE opened at $20.95 on Friday. Cenovus Energy Inc. has a 1 year low of $14.69 and a 1 year high of $21.90. The stock has a market cap of $39.10 billion, a price-to-earnings ratio of 13.26 and a beta of 2.15. The business has a fifty day moving average of $18.50 and a 200-day moving average of $17.99. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.91 and a current ratio of 1.56.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings results on Thursday, February 15th. The oil and gas company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.04. Cenovus Energy had a return on equity of 14.85% and a net margin of 7.88%. The company had revenue of $9.65 billion during the quarter, compared to analysts’ expectations of $9.73 billion. During the same quarter in the prior year, the business posted $0.29 earnings per share. Equities analysts predict that Cenovus Energy Inc. will post 1.73 earnings per share for the current year.

Cenovus Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.1033 dividend. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.10. The ex-dividend date was Thursday, March 14th. This represents a $0.41 annualized dividend and a dividend yield of 1.97%. Cenovus Energy’s dividend payout ratio is presently 25.95%.

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.