Caldwell Investment Management Ltd. Purchases Shares of 110,800 Cenovus Energy Inc $CVE

Caldwell Investment Management Ltd. acquired a new stake in shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 110,800 shares of the oil and gas company’s stock, valued at approximately $1,914,000. Cenovus Energy accounts for 1.3% of Caldwell Investment Management Ltd.’s investment portfolio, making the stock its 15th largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fulton Bank N.A. raised its stake in Cenovus Energy by 4.4% during the 2nd quarter. Fulton Bank N.A. now owns 19,201 shares of the oil and gas company’s stock worth $261,000 after buying an additional 809 shares during the period. OMERS ADMINISTRATION Corp increased its holdings in shares of Cenovus Energy by 1.1% during the second quarter. OMERS ADMINISTRATION Corp now owns 101,257 shares of the oil and gas company’s stock valued at $1,375,000 after acquiring an additional 1,076 shares in the last quarter. Penbrook Management LLC raised its position in shares of Cenovus Energy by 3.8% during the third quarter. Penbrook Management LLC now owns 29,880 shares of the oil and gas company’s stock worth $508,000 after purchasing an additional 1,080 shares during the period. Allworth Financial LP lifted its holdings in shares of Cenovus Energy by 104.3% in the 2nd quarter. Allworth Financial LP now owns 2,288 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 1,168 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in Cenovus Energy by 39.9% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 4,205 shares of the oil and gas company’s stock valued at $57,000 after purchasing an additional 1,199 shares during the period. Institutional investors own 51.19% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on CVE shares. Weiss Ratings restated a “hold (c)” rating on shares of Cenovus Energy in a report on Thursday, October 30th. TD Securities reaffirmed a “buy” rating on shares of Cenovus Energy in a research report on Wednesday, December 3rd. BMO Capital Markets set a $29.00 price target on Cenovus Energy in a research note on Monday, November 17th. The Goldman Sachs Group assumed coverage on Cenovus Energy in a report on Friday, January 2nd. They set a “buy” rating and a $20.00 price objective for the company. Finally, Royal Bank Of Canada raised their target price on Cenovus Energy from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, November 17th. Four research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $27.00.

Cenovus Energy Stock Performance

CVE stock opened at $17.65 on Wednesday. The business has a 50 day moving average of $17.38 and a 200-day moving average of $16.48. The firm has a market cap of $33.25 billion, a PE ratio of 14.46 and a beta of 0.49. Cenovus Energy Inc has a 12-month low of $10.23 and a 12-month high of $18.75. The company has a quick ratio of 1.18, a current ratio of 1.73 and a debt-to-equity ratio of 0.25.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last posted its quarterly earnings data on Friday, October 31st. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.12. The business had revenue of $10.87 billion during the quarter, compared to the consensus estimate of $12.51 billion. Cenovus Energy had a net margin of 6.23% and a return on equity of 10.73%. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.42 earnings per share. As a group, sell-side analysts expect that Cenovus Energy Inc will post 1.49 earnings per share for the current year.

Cenovus Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were paid a $0.20 dividend. The ex-dividend date was Monday, December 15th. This represents a $0.80 annualized dividend and a dividend yield of 4.5%. Cenovus Energy’s payout ratio is presently 46.72%.

About Cenovus Energy

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.