Cenovus Energy Inc. (NYSE:CVE) Position Boosted by Clarius Group LLC

Clarius Group LLC lifted its stake in shares of Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) by 19.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,871 shares of the oil and gas company’s stock after purchasing an additional 2,876 shares during the period. Clarius Group LLC’s holdings in Cenovus Energy were worth $298,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Cerity Partners LLC bought a new position in shares of Cenovus Energy during the fourth quarter worth about $256,000. GHP Investment Advisors Inc. acquired a new stake in Cenovus Energy during the fourth quarter worth about $43,000. Sequoia Financial Advisors LLC raised its stake in Cenovus Energy by 37.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 25,604 shares of the oil and gas company’s stock worth $426,000 after acquiring an additional 6,959 shares during the period. International Assets Investment Management LLC raised its stake in Cenovus Energy by 21.6% during the fourth quarter. International Assets Investment Management LLC now owns 25,567 shares of the oil and gas company’s stock worth $426,000 after acquiring an additional 4,547 shares during the period. Finally, Stratos Wealth Partners LTD. raised its stake in Cenovus Energy by 0.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 156,345 shares of the oil and gas company’s stock worth $2,603,000 after acquiring an additional 774 shares during the period. Institutional investors own 51.19% of the company’s stock.

Cenovus Energy Price Performance

Shares of NYSE:CVE opened at $20.95 on Monday. The firm’s 50 day moving average is $18.50 and its two-hundred day moving average is $17.97. Cenovus Energy Inc. has a 52 week low of $14.69 and a 52 week high of $21.90. The firm has a market capitalization of $39.10 billion, a P/E ratio of 13.26 and a beta of 2.15. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.25.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings results on Thursday, February 15th. The oil and gas company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.25 by $0.04. Cenovus Energy had a net margin of 7.88% and a return on equity of 14.85%. The company had revenue of $9.65 billion for the quarter, compared to analyst estimates of $9.73 billion. During the same quarter last year, the business earned $0.29 earnings per share. Analysts anticipate that Cenovus Energy Inc. will post 1.73 earnings per share for the current year.

Cenovus Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $0.1033 per share. This represents a $0.41 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Cenovus Energy’s previous quarterly dividend of $0.10. Cenovus Energy’s dividend payout ratio (DPR) is currently 25.95%.

Wall Street Analysts Forecast Growth

CVE has been the topic of several research reports. StockNews.com upgraded shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research note on Thursday. Morgan Stanley increased their price objective on shares of Cenovus Energy from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Royal Bank of Canada reiterated an “outperform” rating and set a $28.00 price objective on shares of Cenovus Energy in a research note on Friday, January 26th. Finally, UBS Group upgraded shares of Cenovus Energy from a “neutral” rating to a “buy” rating in a research note on Friday, February 23rd. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $26.67.

About Cenovus Energy

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.