Arkadios Wealth Advisors Sells 3,044 Shares of Cenovus Energy Inc $CVE

Arkadios Wealth Advisors cut its stake in Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) by 15.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,899 shares of the oil and gas company’s stock after selling 3,044 shares during the period. Arkadios Wealth Advisors’ holdings in Cenovus Energy were worth $230,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Cenovus Energy by 8.8% in the first quarter. Vanguard Group Inc. now owns 54,483,601 shares of the oil and gas company’s stock worth $757,213,000 after purchasing an additional 4,401,045 shares during the period. Mackenzie Financial Corp increased its holdings in Cenovus Energy by 56.5% in the 1st quarter. Mackenzie Financial Corp now owns 19,481,233 shares of the oil and gas company’s stock valued at $270,742,000 after buying an additional 7,035,004 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Cenovus Energy by 33.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 17,363,386 shares of the oil and gas company’s stock valued at $241,513,000 after buying an additional 4,362,384 shares in the last quarter. Smead Capital Management Inc. lifted its holdings in shares of Cenovus Energy by 2.5% during the 1st quarter. Smead Capital Management Inc. now owns 15,495,912 shares of the oil and gas company’s stock worth $215,418,000 after acquiring an additional 372,680 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Cenovus Energy by 40.2% during the 1st quarter. Invesco Ltd. now owns 11,281,543 shares of the oil and gas company’s stock worth $156,926,000 after acquiring an additional 3,237,659 shares in the last quarter. 51.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on CVE shares. TD Securities restated a “buy” rating on shares of Cenovus Energy in a research report on Tuesday, September 30th. Royal Bank Of Canada lifted their price target on Cenovus Energy from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Raymond James Financial raised Cenovus Energy from an “outperform” rating to a “strong-buy” rating in a report on Thursday, October 9th. Zacks Research raised Cenovus Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Finally, National Bankshares reiterated an “outperform” rating on shares of Cenovus Energy in a research report on Wednesday, September 10th. Four analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $21.00.

Cenovus Energy Stock Performance

Cenovus Energy stock opened at $16.82 on Friday. The business has a 50 day moving average of $17.03 and a 200-day moving average of $15.07. The company has a market capitalization of $29.70 billion, a P/E ratio of 16.65 and a beta of 0.86. Cenovus Energy Inc has a 1 year low of $10.23 and a 1 year high of $18.60. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.32 and a quick ratio of 0.78.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last announced its quarterly earnings results on Friday, October 31st. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.12. The firm had revenue of $10.87 billion during the quarter, compared to analysts’ expectations of $12.51 billion. Cenovus Energy had a net margin of 5.18% and a return on equity of 9.06%. The company’s revenue was down 7.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 EPS. On average, equities research analysts predict that Cenovus Energy Inc will post 1.49 earnings per share for the current year.

Cenovus Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Monday, December 15th. Cenovus Energy’s dividend payout ratio (DPR) is currently 45.90%.

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.