Cenovus Energy Inc (NYSE:CVE) Shares Purchased by Cetera Investment Advisers

Cetera Investment Advisers lifted its position in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 10.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,101 shares of the oil and gas company’s stock after acquiring an additional 5,005 shares during the quarter. Cetera Investment Advisers’ holdings in Cenovus Energy were worth $711,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CVE. Public Employees Retirement System of Ohio lifted its stake in Cenovus Energy by 0.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 241,113 shares of the oil and gas company’s stock valued at $3,653,000 after buying an additional 762 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Cenovus Energy by 0.7% in the 4th quarter. Alliancebernstein L.P. now owns 106,532 shares of the oil and gas company’s stock valued at $1,614,000 after purchasing an additional 779 shares in the last quarter. Guggenheim Capital LLC increased its holdings in Cenovus Energy by 4.5% in the 4th quarter. Guggenheim Capital LLC now owns 20,974 shares of the oil and gas company’s stock valued at $318,000 after purchasing an additional 908 shares in the last quarter. Meridian Investment Counsel Inc. grew its stake in shares of Cenovus Energy by 4.9% during the first quarter. Meridian Investment Counsel Inc. now owns 21,275 shares of the oil and gas company’s stock valued at $296,000 after acquiring an additional 1,000 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC grew its stake in shares of Cenovus Energy by 10.0% during the first quarter. SeaBridge Investment Advisors LLC now owns 11,000 shares of the oil and gas company’s stock valued at $153,000 after acquiring an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 51.19% of the company’s stock.

Cenovus Energy Trading Up 0.7%

Shares of NYSE:CVE opened at $15.16 on Friday. The stock has a market capitalization of $27.37 billion, a PE ratio of 15.01 and a beta of 0.97. The company has a current ratio of 1.32, a quick ratio of 0.78 and a debt-to-equity ratio of 0.24. Cenovus Energy Inc has a 1 year low of $10.23 and a 1 year high of $20.03. The firm has a fifty day moving average price of $14.42 and a 200 day moving average price of $13.70.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings data on Thursday, July 31st. The oil and gas company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.19. The business had revenue of $10.66 billion during the quarter, compared to analyst estimates of $10.64 billion. Cenovus Energy had a net margin of 5.18% and a return on equity of 9.06%. The firm’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 earnings per share. Analysts expect that Cenovus Energy Inc will post 1.49 EPS for the current fiscal year.

Cenovus Energy Increases Dividend

The company also recently disclosed a dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a dividend of $0.20 per share. This is a positive change from Cenovus Energy’s previous dividend of $0.11. This represents a yield of 425.0%. The ex-dividend date of this dividend was Friday, June 13th. Cenovus Energy’s payout ratio is currently 57.43%.

Analyst Ratings Changes

Several analysts have recently weighed in on CVE shares. Royal Bank Of Canada raised their target price on Cenovus Energy from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Wall Street Zen raised shares of Cenovus Energy from a “sell” rating to a “hold” rating in a report on Sunday, August 3rd. National Bankshares reissued a “sector perform” rating on shares of Cenovus Energy in a report on Friday, April 25th. Veritas lowered shares of Cenovus Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 14th. Finally, The Goldman Sachs Group dropped their price target on shares of Cenovus Energy from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $23.33.

Cenovus Energy Company 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.