Vontobel Holding Ltd. Invests $933,000 in Cenovus Energy Inc. (NYSE:CVE)

Vontobel Holding Ltd. bought a new position in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) in the 4th quarter, HoldingsChannel.com reports. The firm bought 56,000 shares of the oil and gas company’s stock, valued at approximately $933,000.

Other institutional investors have also recently made changes to their positions in the company. Commonwealth Equity Services LLC grew its position in Cenovus Energy by 1.6% during the third quarter. Commonwealth Equity Services LLC now owns 29,149 shares of the oil and gas company’s stock valued at $448,000 after buying an additional 472 shares during the period. CWM LLC grew its position in Cenovus Energy by 19.2% during the third quarter. CWM LLC now owns 3,336 shares of the oil and gas company’s stock valued at $69,000 after buying an additional 537 shares during the period. Private Advisor Group LLC boosted its position in Cenovus Energy by 2.7% during the third quarter. Private Advisor Group LLC now owns 22,453 shares of the oil and gas company’s stock worth $467,000 after purchasing an additional 598 shares during the period. Schechter Investment Advisors LLC boosted its position in Cenovus Energy by 1.6% during the third quarter. Schechter Investment Advisors LLC now owns 39,350 shares of the oil and gas company’s stock worth $819,000 after purchasing an additional 611 shares during the period. Finally, Lorne Steinberg Wealth Management Inc. boosted its position in Cenovus Energy by 1.1% during the third quarter. Lorne Steinberg Wealth Management Inc. now owns 57,715 shares of the oil and gas company’s stock worth $1,205,000 after purchasing an additional 630 shares during the period. Institutional investors own 51.19% of the company’s stock.

Analyst Upgrades and Downgrades

CVE has been the subject of a number of research reports. Morgan Stanley increased their target price on shares of Cenovus Energy from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Royal Bank of Canada reiterated an “outperform” rating and set a $28.00 target price on shares of Cenovus Energy in a research report on Friday, January 26th. StockNews.com upgraded shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th. Finally, UBS Group upgraded shares of Cenovus Energy from a “neutral” rating to a “buy” rating in a research report on Friday, February 23rd. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $26.67.

Cenovus Energy Trading Up 0.9 %

Shares of Cenovus Energy stock opened at $20.85 on Monday. Cenovus Energy Inc. has a 12-month low of $14.69 and a 12-month high of $21.90. The company has a market cap of $38.89 billion, a price-to-earnings ratio of 13.20 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. The company’s 50-day moving average price is $18.97 and its 200-day moving average price is $17.99.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings results on Thursday, February 15th. The oil and gas company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Cenovus Energy had a net margin of 7.88% and a return on equity of 14.85%. The firm had revenue of $9.65 billion for the quarter, compared to the consensus estimate of $9.73 billion. During the same period in the prior year, the firm posted $0.29 earnings per share. On average, equities analysts expect that Cenovus Energy Inc. will post 1.88 earnings per share for the current fiscal year.

Cenovus Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $0.1033 dividend. This represents a $0.41 dividend on an annualized basis and a dividend yield of 1.98%. This is an increase from Cenovus Energy’s previous quarterly dividend of $0.10. The ex-dividend date was Thursday, March 14th. 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.