Cerity Partners LLC Acquires New Holdings in Cenovus Energy Inc. (NYSE:CVE)

Cerity Partners LLC acquired a new stake in Cenovus Energy Inc. (NYSE:CVE) (TSE:CVE) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 15,388 shares of the oil and gas company’s stock, valued at approximately $256,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CVE. NBC Securities Inc. bought a new position in Cenovus Energy in the 3rd quarter valued at approximately $34,000. GHP Investment Advisors Inc. bought a new position in shares of Cenovus Energy during the fourth quarter valued at $43,000. CWM LLC raised its stake in shares of 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 acquiring an additional 537 shares during the last quarter. Operose Advisors LLC bought a new position in shares of Cenovus Energy during the third quarter valued at $79,000. Finally, Y.D. More Investments Ltd bought a new position in shares of Cenovus Energy during the third quarter valued at $104,000. Institutional investors own 51.19% of the company’s stock.

Cenovus Energy Price Performance

Shares of NYSE CVE opened at $21.46 on Monday. Cenovus Energy Inc. has a twelve month low of $14.69 and a twelve month high of $21.90. The firm has a fifty day simple moving average of $19.42 and a 200 day simple moving average of $18.03. The company has a market capitalization of $40.03 billion, a PE ratio of 13.58 and a beta of 2.15. The company has a quick ratio of 0.91, a current ratio of 1.56 and a debt-to-equity ratio of 0.25.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its earnings results on Thursday, February 15th. The oil and gas company reported $0.29 earnings per share 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 business had revenue of $9.65 billion during the quarter, compared to the consensus estimate of $9.73 billion. During the same quarter last year, the firm earned $0.29 earnings per share. On average, sell-side analysts forecast that Cenovus Energy Inc. will post 1.88 EPS for the current year.

Cenovus Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $0.1033 dividend. This represents a $0.41 dividend on an annualized basis and a yield of 1.93%. This is a boost from Cenovus Energy’s previous quarterly dividend of $0.10. The ex-dividend date was Thursday, March 14th. Cenovus Energy’s dividend payout ratio (DPR) is presently 25.95%.

Analyst Upgrades and Downgrades

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

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.