First Trust Direct Indexing L.P. Invests $215,000 in Cenovus Energy Inc. (NYSE:CVE)

First Trust Direct Indexing L.P. purchased a new position in shares of Cenovus Energy Inc. (NYSE:CVEFree Report) (TSE:CVE) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,737 shares of the oil and gas company’s stock, valued at approximately $215,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Perspectives Inc bought a new position in shares of Cenovus Energy during the fourth quarter worth $28,000. Banque Cantonale Vaudoise bought a new position in shares of Cenovus Energy during the first quarter worth $30,000. Headlands Technologies LLC acquired a new stake in shares of Cenovus Energy during the fourth quarter worth $33,000. Spire Wealth Management raised its holdings in shares of Cenovus Energy by 41.9% during the fourth quarter. Spire Wealth Management now owns 2,305 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 681 shares during the period. Finally, GHP Investment Advisors Inc. acquired a new stake in shares of Cenovus Energy during the fourth quarter worth $43,000. 51.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CVE shares. StockNews.com upgraded shares of Cenovus Energy from a “buy” rating to a “strong-buy” rating in a report on Friday, July 5th. Morgan Stanley raised their price objective on shares of Cenovus Energy from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, Raymond James upgraded shares of Cenovus Energy to a “moderate buy” rating in a report on Tuesday, May 28th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $29.00.

View Our Latest Research Report on Cenovus Energy

Cenovus Energy Stock Down 1.6 %

Shares of CVE stock opened at $19.27 on Wednesday. The company has a current ratio of 1.70, a quick ratio of 1.01 and a debt-to-equity ratio of 0.25. Cenovus Energy Inc. has a 1 year low of $14.69 and a 1 year high of $21.90. The firm’s fifty day moving average price is $19.78 and its two-hundred day moving average price is $18.64. The firm has a market capitalization of $35.82 billion, a P/E ratio of 10.70 and a beta of 2.07.

Cenovus Energy (NYSE:CVEGet Free Report) (TSE:CVE) last issued its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.11. Cenovus Energy had a net margin of 8.73% and a return on equity of 16.53%. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.98 billion. On average, equities analysts predict that Cenovus Energy Inc. will post 2.04 EPS for the current fiscal year.

Cenovus Energy Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were paid a $0.0981 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.18 annualized dividend and a yield of 6.11%. Cenovus Energy’s payout ratio is currently 28.89%.

Cenovus Energy Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Cenovus Energy (NYSE:CVE)

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